229 Franklin St Hempstead, NY 11550
- Automotive properties
- 13,320 SF
- 0.68 lot acres
Current Use by Public Records
- Garden City Mazda / Mazda Dealer / Car Finance And Loan Company
Property Details for 229 Franklin St
- Year built
- 1951
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.68 lot acres
- Property size
- 13,320 SF
- Property type
- Automotive properties
- APN
- 34-178-00-0011
- APU
- 34178000011
Description
This exceptional investment opportunity presents a unique chance to acquire a mixed-use property located at 229 S Franklin St, Hempstead, NY. The property encompasses two buildings on a 0.15-acre lot, totaling 4,428 square feet. The first structure is a two-story detached building featuring a ground-floor retail space currently leased to a deli. This lease extends until 2031, with a single five-year renewal option and a 3% annual rent increase. The lease is semi-net, with the tenant responsible for specific repairs, maintenance, utilities, and liability insurance. Above the retail space are three residential units. The second structure is entirely residential, with month-to-month tenants. The property's potential gross income is estimated at $160,000 annually, with potential for increased income through light renovations to the residential units. Real estate taxes are $37,660 annually. Detailed income and expense statements are available upon request. Note that this listing is for 229 S Franklin St only
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
- Hempstead
- County
- Nassau
- State
- New York
- Longitude
- -73.6303
- Latitude
- 40.7137
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
