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    456-488 Hempstead Tpke West Hempstead, NY 11552

    Sponsored
    For Lease
    $29 SF/Yr

    West Hempstead, NY Retail Center - 15 Suites

    Lot size:
    34,681 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Cherry Valley Plaza, located at 456-488 Hempstead Turnpike in West Hempstead, NY 11552, presents a compelling investment opportunity. This single-story, 34,681 square foot retail center, built in 1949, sits on a 1.98-acre lot and boasts a Class C rating. The property features 15 suites, with currently 325 square feet of vacant space available, offering potential for immediate income generation. Suite sizes range from 325 to 1,370 square feet, catering to a variety of retail businesses. Ample parking is provided with 165 spaces, including 117 at grade level and 48 in a lower-level garage. The center benefits from its high-traffic location on Hempstead Turnpike, a major thoroughfare, establishing it as a prominent retail destination in West Hempstead. Current tenants include notable businesses such as Pet Supplies Plus, GameStop, Tropical Smoothie, Fit Body Boot Camp, Liberty Tax, and European Wax Center, demonstrating strong tenant occupancy and a diverse mix of retail offerings. The property is well-maintained and professionally managed. This is an excellent opportunity to acquire a well-established retail center in a thriving community. The property offers a strong foundation for continued growth and profitability.

    Property Features for 456-488 Hempstead Tpke

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,681 SF
    Class
    C
    Total Rate
    83812.42

    Building Details

    Year Built
    1949
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Suite 3
    Size
    325 SF
    Rate per SF
    $74
    Space
    Suite 10
    Size
    1,370 SF
    Rate per SF
    $29

    HighLights

    • High‑visibility corner lot with pylon sign opportunity.
    • Excellent signage opportunities for high impact.
    • Strong tenant mix including diverse restaurants.
    • Tenant‑controlled HVAC systems for individual unit climate control.
    • Modern recessed lighting throughout the center.
    • High daytime pedestrian traffic generates significant customer flow.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.656305
    Latitude
    40.705998

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    FAQs

    What type of property is this?
    Retail property - West Hempstead, NY Retail Center - 15 Suites
    Where is this retail property located?
    The property is located at 456-488 Hempstead Tpke West Hempstead, NY.
    What is the lease rate?
    The lease rate is $29-$74 SF/Yr.
    What are key features of this property?
    This property features: High-visibility corner lot with pylon sign opportunity.; Excellent signage opportunities for high impact.; Strong tenant mix including diverse restaurants.
    Request Owner's contact information
    456-488 Hempstead Tpke West Hempstead, NY 11552
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    456-488 Hempstead Tpke West Hempstead, NY 11552
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