Current Use by Public Records
- Retail properties & Spaces
Property Details for 197 Main St
- Year built
- 1922
- Lot size
- 0.06 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional retail property at 197 Main St, Hempstead, NY presents a unique investment opportunity. The 2,400-square-foot building boasts 100% occupancy with two established tenants: a restaurant and a bakery. The restaurant is secured by a newly signed 5-year lease, providing immediate and consistent income. The bakery has committed to a long-term 10-year lease, ensuring stable cash flow for years to come. This is a truly passive investment, as the landlord is responsible for all property taxes, insurance, water, roof maintenance, and structural repairs. The property sits on a 0.06-acre lot and includes a valuable 900-square-foot basement, offering additional storage or potential for expansion. A 900-square-foot yard provides ample space for outdoor activities or potential future development. The building's prime location on Main Street in Hempstead ensures high visibility and accessibility for both tenants and customers. This is a rare opportunity to acquire a fully leased, low-maintenance commercial property with significant long-term income potential. The building's strong tenant base and favorable lease terms make this an ideal investment for those seeking a secure and profitable addition to their portfolio. The property is priced at $549,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hempstead
- County
- Nassau County
- State
- New York
- Longitude
- -73.6269
- Latitude
- 40.7131
