Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    466-470 Franklin St Hempstead, NY 11550

    • Distribution centers
    • 2,928 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1569141
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Distribution centers

    Property Details for 466-470 Franklin St

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.16 lot acres
    Property size
    2,928 SF
    Property type
    Distribution centers
    APN
    36-005-00-0024
    APU
    36005000024

    Value Estimations

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6219
    Latitude
    40.6909
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,682
    $1,658
    $946
    $2,604
    -
    $0.00
    $0.00
    $260,400

    Comparable in this City

    • Value Estimation by Request
      7,957 SF

      459 Peninsula Blvd

      DISTRIBUTION WAREHOUSE • 7,957 SF
      459 Peninsula Blvd, Hempstead, NY 11550-5412
      View Details
    • Value Estimation by Request
      1,050 SF

      63 Sewell St

      DISTRIBUTION WAREHOUSE • 1,050 SF
      63 Sewell St, Hempstead, NY 11550-5417
      View Details
    • Value Estimation by Request
      2,240 SF

      65 Whitson St

      DISTRIBUTION WAREHOUSE • 2,240 SF
      65 Whitson St, Hempstead, NY 11550-5420
      View Details
    • Value Estimation by Request
      120 SF

      Brooklyn Dr

      DISTRIBUTION WAREHOUSE • 120 SF
      Brooklyn Dr, Hempstead, NY 11550
      View Details
    • Value Estimation by Request
      650 SF

      52 Chasner St

      DISTRIBUTION WAREHOUSE • 650 SF
      52 Chasner St, Hempstead, NY 11550-4820
      View Details
    • Value Estimation by Request
      3,361 SF

      37 Chasner St

      DISTRIBUTION WAREHOUSE • 3,361 SF
      37 Chasner St, Hempstead, NY 11550-4807
      View Details

    Similar Nearby for Sale

    • $3,500,000

      Hempstead Industrial Property - Prime Location

      Spacious industrial building, excellent Hempstead location.
      510 Franklin St, Hempstead, NY 11550
      View Details
    • $3,500,000

      Hempstead Industrial Property for Sale

      Industrial property available for purchase in Hempstead, New York.
      510 S Franklin St, Hempstead, NY 11550
      View Details
    • $600,000
      4,080 SF

      Hempstead Commercial/Industrial Opportunity

      Updated commercial/industrial building in Hempstead, move-in ready with modern amenities.
      95 Madison Ave, Hempstead, NY 11550
      View Details
    • $879,000
      4,428 SF

      Hempstead Mixed-Use Investment

      High-yield, dual-building property. Great potential.
      229 Franklin St, Hempstead, NY 11550
      View Details
    • $825,000
      5,530 SF

      Hempstead Mixed-Use Investment Opportunity

      High-Income Potential, Two Buildings on .23 Acres
      220 Franklin St, Hempstead, NY 11550
      View Details
    • $799,000
      Pending

      New Construction Colonial-Style Two-Family Home

      New construction two-family home in the heart of Hempstead.
      248 Main St, Hempstead, NY 11550
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      5,000 SF

      Hempstead Commercial Space For Rent

      Commercial space for rent in central Hempstead location.
      72 Fulton Ave, Hempstead, NY 11550
      View Details
    • $14 SF/Yr
      17,500 SF

      Hempstead Warehouse Space Available

      17,500 SF warehouse space for lease in Hempstead, NY.
      32-44 Intersection St, Hempstead, NY 11550
      View Details
    • $22 SF/Yr
      1,900 SF

      West Hempstead Mixed-Use Space

      Mixed-use space with loading doors and high ceilings for rent.
      393 S Franklin St, West Hempstead, NY 11550
      View Details
    • Contact for pricing

      Prime Retail/Office Space Available

      Versatile space in a vibrant commercial district, Hempstead, NY.
      290 Peninsula Blvd, Hempstead, NY 11550
      View Details
    • Contact for pricing
      10,000 SF

      Ground Floor Space For Rent

      Prime ground floor space suitable for school, medical, or office.
      820 Front St, Hempstead, NY 11550
      View Details
    • $18,000 /Mo

      Corner Plot on Busy Street

      Large corner plot available for long-term lease.
      126 Henry St, Hempstead, NY 11550
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    466-470 Franklin St
    Hempstead, NY 11550
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.