Ground-Floor Takeout Restaurant
930 Hempstead Turnpike Hempstead, NY 11010
930 Hempstead Turnpike, Hempstead, NY, 11010
$598,000
For Sale
$598,000
Turnkey ground-floor restaurant with a finished basement, currently operating as a takeout concept.
Property Size1,408 SF
Price / SF$424.72
Days on Market117
Property Features for 930 Hempstead Turnpike
General Information
- Standard status
- Active
- Size
- 1,408 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1923
Listing agency
Chase Global Realty Corp
(718) 313-7899
Listed by
Wei Lin · License #10301217764
(718) 313-7899
Source
Xome
Added: Mar 28 Updated: Jul 22 at 2:08PM Checked: Jul 22 at 2:08PM
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 Chase Global Realty Corp
Investment Insights
Based on property information with market context.
This turnkey ground-floor commercial space is configured for restaurant use and includes 1,408 square feet plus a fully finished basement. The basement offers additional room for storage, prep, or potential expansion, supporting day-to-day restaurant operations. The property is presented as move-in ready and currently operates as a takeout restaurant.
Public remarks describe the unit as located in a high-visibility, high-traffic area in the heart of Franklin Square, Long Island, at 930 Hempstead Turnpike. The listing states there is three years remaining on the current lease, with an option to terminate the existing lease to bring a new concept to life.
Overall, the offering combines an operational restaurant setup with additional finished lower-level space and a lease structure designed to accommodate either continued takeout operations or a change in concept.
Public remarks describe the unit as located in a high-visibility, high-traffic area in the heart of Franklin Square, Long Island, at 930 Hempstead Turnpike. The listing states there is three years remaining on the current lease, with an option to terminate the existing lease to bring a new concept to life.
Overall, the offering combines an operational restaurant setup with additional finished lower-level space and a lease structure designed to accommodate either continued takeout operations or a change in concept.
Key Highlights
- Ground‑floor commercial space with 1,408 SF plus a fully finished basement
- Currently operating as a takeout restaurant
- Central air cooling and heating system listed as '3'
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.9k | $21.96 |
| − Vacancy | −$2.1k | −$1.52 |
| EGI | $28.8k | $20.44 |
| − OpEx | −$8.6k | −$6.13 |
| NOI | $20.2k | $14.31 |
1,408 SF · lease $21.96/SF/yr · vacancy 6.90% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$930.9K
$814.6K – $1.09M
NOI $65,166 @ 7.0% cap · market cap 10.90%
Second Best
Industrial
$287.9K
$251.9K – $335.8K
NOI $20,150 @ 7.0% cap · market cap 3.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Turnkey ground-floor restaurant with a finished basement, currently operating as a takeout concept.
Where is this conventional restaurant located?
The property is located at 930 Hempstead Turnpike Hempstead, NY.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: Ground‑floor commercial space with 1,408 SF plus a fully finished basement; Currently operating as a takeout restaurant; Central air cooling and heating system listed as '3'
