Commercial Real Estate Market in Hempstead, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
147 active listings and 1,904 off-market properties in Hempstead, NY. Commercial property asks $239/SF to buy and $34.48/SF/Yr to lease.
Market Trends
Hempstead, NY spans 4.4 square miles in Nassau County, New York. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Hempstead, NY runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Hempstead, NY runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Hempstead, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in Hempstead, NY runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 89.8%
- Open space 2.6%
- Residential 2.2%
- Industrial 2%
- Commercial 0.5%
Largest Zones share of zoned land by district
Residence
Residence
Business
Residence
Residence
Residence (R-A)
The purpose of this district is for single family detached dwellings, public and parochial schools, churches and similar places of worship, parish houses, convents, libraries, colleges or universities
Market overview
Demographics & Economy
Hempstead, NY has 64,238 residents in 19,592 households. Density runs 14,440 people per square mile. Median household income here is $86,904 and median gross rent $1,647 a month.
64,238
Population
19,592
Households
3.3
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
4.4 sq mi
ZIP Area
14,440
Density / Sq Mi
$86,904
Median Household Income
$39,360
Median Earnings
$1,647
Median Rent
$446,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Garden City | — | $37.24 |
| Franklin Square | — | — |
Commercial property in Hempstead, NY asks $239/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hempstead?
Commercial property in Hempstead, NY asks an average of $239 per square foot. The 6 most recent recorded sales traded at a median of $764/SF.
How much does it cost to lease commercial space in Hempstead?
Asking lease rates in Hempstead, NY average $34.48 per square foot per year.
Where does Realmo's Hempstead market data come from?
Realmo compiles Hempstead, NY figures from 6 recent recorded sales, 96 active sale listings, 51 active lease listings, 1,904 tracked off-market properties, the current Hempstead zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 96 active for-sale and 51 active for-lease listings in Hempstead, NY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 2,368 zoned acres across 18 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
