942-956 Hempstead Tpke Franklin Square, NY 11010
- Retail properties
- 41,000 SF
- 0.81 lot acres
Current Use by Public Records
- Retail properties
Property Details for 942-956 Hempstead Tpke
- Year built
- 1923
- Lot size
- 0.81 lot acres
- Property size
- 41,000 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional mixed-use investment opportunity presents a fully occupied, 41,000 square foot building situated on a 0.81-acre lot in Franklin Square, NY. The property, comprised of two buildings with a total of 39 units, boasts a strong NOI of $600,024 and an 8.00% cap rate, reflecting a stabilized investment with significant upside potential. The asset includes 5 office units, 15 retail units, and 19 residential units, catering to a diverse tenant base. Located at 942-956 Hempstead Turnpike, this strategically positioned property benefits from high traffic counts (32,806 cars daily) and proximity to neighborhood amenities and the Stewart Manor LIRR train station. Built in 1923/1928, the Class C property features 10 on-site parking spaces and is zoned for commercial use. The asking price is $7,499,000, translating to $182.90 per square foot. This fee-simple ownership opportunity includes a ground lease and is currently 100% occupied across its 37 tenants. The property's two buildings span two stories. APN: 2089-33-430-00-0144-0, 2089-33-430-00-0049-0.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Franklin Square
- County
- Nassau
- State
- New York
- Longitude
- -73.6757
- Latitude
- 40.7075
