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    Property profile & analytics

    179 Franklin St, Unit 185 Hempstead, NY 11550-1313

    • Investment properties
    • 2,700 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1810092
    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

    • Enterprise Car Sales / Car Dealership
    • Believing God's Word Church / Church
    • Curtis Riley Comm Devmt Corporation / Charitable Organization / Social Service Agency

    Property Details for 179 Franklin St

    Year built
    1994
    Lot size
    0.27 lot acres
    Property size
    2,700 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    34-290-00-0255
    APU
    34290000255

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,519,000
      Market price range: $549k - $1.63M
      AI Estimate
      $660,000
      Market price range: $55.1k - $1.10M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,180,000
      Current use
      AUTO REPAIR, GARAGE
      $1,580,000
      Change: +34% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,360,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $1,205,000
      Change: +2% Conversion: Easy
      RETAIL STORES
      $1,145,000
      Change: -3% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6293
    Latitude
    40.712
    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
    $29,467
    $6,061
    $1.00
    $6,062
    -
    $0.00
    $0.00
    $606,200

    Comparable in this City

    • Value Estimation
      $3,440,000
      11,257 SF

      301 Frnt St, Unit 307

      STORE/OFFICE (MIXED USE) • 11,257 SF
      301 Frnt St, Hempstead, NY 11550-4024
      View Details
    • Value Estimation
      $655,000
      4,125 SF

      416 Clinton St

      STORE/OFFICE (MIXED USE) • 4,125 SF
      416 Clinton St, Hempstead, NY 11550-1738
      View Details
    • Value Estimation by Request
      672 SF

      517 Franklin St

      STORE/OFFICE (MIXED USE) • 672 SF
      517 Franklin St, Hempstead, NY 11550-7618
      View Details
    • Value Estimation
      $920,000
      4,704 SF

      Greenwich St

      STORE/OFFICE (MIXED USE) • 4,704 SF
      Greenwich St, Hempstead, NY 11550
      View Details
    • Value Estimation
      $1,080,000
      4,240 SF

      458 Peninsula Blvd, Unit 462

      STORE/OFFICE (MIXED USE) • 4,240 SF
      458 Peninsula Blvd, Hempstead, NY 11550-5425
      View Details
    • Value Estimation
      $555,000
      2,997 SF

      476-478 So Franklin St

      STORE/OFFICE (MIXED USE) • 2,997 SF
      476-478 So Franklin St, Hempstead, NY 11550
      View Details

    Similar Nearby for Sale

    • $5,580,000
      Pending

      Hempstead Retail Investment Opportunity

      Prime retail strip mall in bustling Hempstead, NY.
      158 Main St, Hempstead, NY 11550
      View Details
    • $515,000
      1,950 SF

      Hempstead Duplex Sold As-Is

      Two-family home in Hempstead, sold as-is with tenants.
      106-108 Remsen Ave, Hempstead, NY 11550
      View Details
    • $925,000
      0.07 Acres

      Mixed-Use Property in Hempstead, NY

      Profitable commercial property with retail and residential units in Hempstead.
      171 S Franklin St, 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
    • $1,500,000

      Hempstead Waterfront Mixed-Use Gem

      Prime waterfront commercial & residential investment.
      70 Front St, Hempstead, NY 11550
      View Details

    Similar Nearby for Lease

    • $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
      800 SF

      Move-in Ready Commercial Space

      Second-floor commercial space with private offices and excellent visibility.
      32 Main St, Hempstead, NY 11550
      View Details
    • $12,000 /Mo
      2,850 SF

      Hempstead Commercial Space For Rent

      New commercial space suitable for daycare or school facility.
      533 Greenwich St, Hempstead, NY 11550
      View Details
    • $5,500 /Mo
      12,537 SF

      Hempstead Office Space For Rent

      2,575 SF office space with private entrance available for rent.
      218 Front St, Hempstead, NY 11550
      View Details
    • $2,900 /Mo

      Renovated Office Space in Hempstead

      Renovated office space with modern amenities in prime Hempstead location.
      43 W Columbia St, Hempstead, NY 11550
      View Details
    • Contact for pricing
      5,200 SF

      Retail Space in Hempstead, NY

      Downtown community strip center with high-volume tenants.
      270-320 Peninsula Blvd, Hempstead, NY 11550
      View Details
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    179 Franklin St, Unit 185
    Hempstead, NY 11550-1313
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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