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    3695-3721 Hempstead Tpke Levittown, NY 11756

    • Lifestyle centers
    • 17,550 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 3695-3721 Hempstead Tpke

    Property size
    17,550 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity presents a 17,550 square foot shopping center located at 3695-3721 Hempstead Turnpike in Levittown, New York, within Nassau County (zip code 11756). The property features six individual suites, offering flexible space options ranging from a minimum of 1,350 square feet to a maximum contiguous space of 4,050 square feet. Currently, a significant portion of the center, totaling 12,150 square feet, is available for lease. This presents a unique chance for businesses seeking immediate occupancy and a prime location within a bustling commercial area. The center boasts ample parking with 100 spaces available for customers and tenants. The property is classified as a multi-tenant retail shopping center, ideal for a variety of retail uses. Its strategic location on Hempstead Turnpike ensures high visibility and accessibility for potential customers. This is an excellent opportunity to establish or expand your business in a thriving Nassau County market. The property's size and layout offer considerable flexibility for various retail concepts. Interested parties are encouraged to inquire for further details and leasing information.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Levittown
    County
    Nassau
    State
    New York
    Longitude
    -73.4994
    Latitude
    40.7259

    Comparable in this City

    • Value Estimation by Request

      2730 Hempstead Tpke

      Lifestyle centers
      2730 Hempstead Tpke, Levittown, NY 11756
      View Details
    • Value Estimation by Request
      9,584 SF

      297 Wantagh Ave, Unit 303

      SHOPPING CENTER, STRIP CENTER • 9,584 SF
      297 Wantagh Ave, Levittown, NY 11756-5310
      View Details
    • Value Estimation by Request
      35,105 SF

      128 Gardiners Ave, Unit 176

      SHOPPING CENTER, STRIP CENTER • 35,105 SF
      128 Gardiners Ave, Levittown, NY 11756-3707
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    • Value Estimation by Request
      8,097 SF

      3535 Hempstead Tpke

      SHOPPING CENTER, STRIP CENTER • 8,097 SF
      3535 Hempstead Tpke, Levittown, NY 11756-1368
      View Details
    • Value Estimation by Request
      14,070 SF

      3240 Hempstead Tpke, Unit 64

      SHOPPING CENTER, STRIP CENTER • 14,070 SF
      3240 Hempstead Tpke, Levittown, NY 11756-1345
      View Details
    • Value Estimation by Request
      9,040 SF

      3335 Hempstead Tpke

      SHOPPING CENTER, STRIP CENTER • 9,040 SF
      3335 Hempstead Tpke, Levittown, NY 11756-1310
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      17,550 SF

      Hempstead Turnpike Retail Center

      Levittown Shopping Center - 6 Suites Available
      3695-3721 Hempstead Tpke, Levittown, NY 11756
      View Details
    • $4,600 /Mo
      17,281 SF

      Levittown Retail Space For Rent

      Prime storefront in a busy, established shopping center with ample parking.
      3259 Hempstead Tpke, Levittown, NY 11756
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      5,000 SF

      Levittown Retail Space Available

      5,000 SF retail property for lease in Levittown, NY.
      3171 Hempstead Tpke, Levittown, NY 11756
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    • $25 SF/Yr
      95,450 SF

      Levittown Retail Space Available

      Prime Retail Space, Nassau County, NY
      3601 Hempstead Tpke, Levittown, NY 11756
      View Details
    • Contact for pricing
      6,956 SF

      Retail Space in Levittown

      Retail space with high visibility and accessibility in Levittown.
      3345-3371 Hempstead Tpke, Levittown, NY 11756
      View Details
    • Contact for pricing
      2,250 SF

      Retail Space on Hempstead Turnpike

      Retail space available in a densely populated Nassau County community.
      3601-3633 Hempstead Tpke, Levittown, NY 11756
      View Details
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    Levittown, NY 11756
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
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