Eight-Unit Retail Strip
For Sale
Contact for pricing
755 Franklin Avenue, Franklin Square, NY 11010
For sale retail strip center with eight store units and an existing rent roll listed at $343,935.
Property Size7,915 SF
Price / SF$536.96
Days on Market144
Property Features for 755 Franklin Avenue
General Information
Standard status
Active
Size
7,915 SF
Property subtype
Retail
Building Details
Tenancy
Multi
Listing Agency:
CENTURY 21 Sherlock Homes
Listed By:
Roger Hart · License #NY
(516) 459-5379
Source:
Crexi
Added: Apr 20
Changed: Aug 13
Last Checked: Sep 9 at 8:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Sherlock Homes
Investment Insights
Based on property information with market context.
This for-sale retail strip center includes eight store units within a single retail property. The rent roll is listed at $343,935, providing an established income snapshot for prospective buyers.
The property is located at 755 Franklin Avenue in Franklin Square, New York. For financial details, the seller requests inquiries by email.
The offering is presented as an 8-store retail strip center, offering a straightforward multi-unit configuration for ownership.
The property is located at 755 Franklin Avenue in Franklin Square, New York. For financial details, the seller requests inquiries by email.
The offering is presented as an 8-store retail strip center, offering a straightforward multi-unit configuration for ownership.
Key Highlights
- For sale 8‑store retail strip center on Franklin Avenue in Franklin Square
- Existing rent roll listed at $343,935
- Property includes eight store units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$156,741
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,134,820
$3.1M
Cap Rate 7%
$2,239,157
$2.2M
Cap Rate 9%
$1,741,567
$1.7M
Market Conditions
NOI Build-Up for 7,915 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$237.5K $30.00/SF
− Vacancy
−$13.5K −$1.71/SF
EGI
$223.9K $28.29/SF
− OpEx
−$67.2K −$8.49/SF
NOI
$156.7K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,134,820
Cap Rate 7%
$2,239,157
Cap Rate 9%
$1,741,567
Alternative Uses
Best Use
Retail
$2.24M
$1.96M – $2.61M
NOI $156,741 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.23M
$4.58M – $6.11M
NOI $366,326 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
132k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 37%
Beauty & Spa 3%
McDonald's
Dining
29,379 visits/mo
0.4 miles
Starbucks
Dining
22,834 visits/mo
0.2 miles
Valero Energy
Shops & Services
16,222 visits/mo
0.1 miles
Dunkin' Donuts
Dining
11,253 visits/mo
0.3 miles
7-Eleven
Shops & Services
10,445 visits/mo
0.4 miles
Demographics for 11010, NY
25,013
Population
8,577
Households
2.9
Avg Household Size
44
Median Age
40%
College-Educated
91%
High-School Grad
2.4 sq mi
ZIP Area
10,422
Density / Sq Mi
$140,686
Median Household Income
$58,584
Median Earnings
$2,096
Median Rent
$647,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - For sale retail strip center with eight store units and an existing rent roll listed at $343,935.
Where is this strip mall located?
The property is located at 755 Franklin Avenue Franklin Square, NY.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: For sale 8‑store retail strip center on Franklin Avenue in Franklin Square; Existing rent roll listed at $343,935; Property includes eight store units
