Commercial Real Estate Market in South Hempstead, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
141 active listings and 1,904 off-market properties in South Hempstead, NY. Commercial property asks $234/SF to buy and $28.58/SF/Yr to lease.
Market Trends
South Hempstead, NY spans 4.2 square miles in Nassau County, New York. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in South 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 South 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 South 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 South Hempstead, NY runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
South Hempstead, NY has 61,901 residents in 19,579 households. Density runs 14,707 people per square mile. Median household income here is $86,904 and median gross rent $1,647 a month.
61,901
Population
19,579
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
77%
High-School Grad
4.2 sq mi
ZIP Area
14,707
Density / Sq Mi
$86,904
Median Household Income
$40,662
Median Earnings
$1,647
Median Rent
$446,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Rockville Centre | — | $30.14 |
| Hempstead | — | $28.58 |
Commercial property in South Hempstead, NY asks $234/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in South Hempstead?
Commercial property in South Hempstead, NY asks an average of $234 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 South Hempstead?
Asking lease rates in South Hempstead, NY average $28.58 per square foot per year.
Where does Realmo's South Hempstead market data come from?
Realmo compiles South Hempstead, NY figures from 6 recent recorded sales, 93 active sale listings, 48 active lease listings, 1,904 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 93 active for-sale and 48 active for-lease listings in South 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.
- 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 · How Realmo checks market page data · Report a data issue
