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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2031 Hempstead Tpke East Meadow, NY 11554-1711

    • Strip malls
    • 8,520 SF
    • 0.56 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2022
    $3,200,000
    Value Estimations
    $3,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2168185
    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

    • Mattress Firm East Meadow / Bed Shop / Children'S Furniture Store

    Property Details for 2031 Hempstead Tpke

    Year built
    1951
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.56 lot acres
    Property size
    8,520 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    45-339-00-0029
    APU
    45339000029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,100,000
      ML approach
      $3,230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    East Meadow
    County
    Nassau
    State
    New York
    Longitude
    -73.5611
    Latitude
    40.725
    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
    $108,932
    $7,629
    $4,073
    $11,702
    -
    $0.00
    $0.00
    $1,170,200

    Comparable in this City

    • Value Estimation
      $640,000
      18,360 SF

      2304 Hempstead Tpke

      SHOPPING CENTER, STRIP CENTER • 18,360 SF
      2304 Hempstead Tpke, East Meadow, NY 11554-2029
      View Details
    • Value Estimation
      $5,630,000
      11,306 SF

      2047 Hempstead Tpke, Unit 2085

      SHOPPING CENTER, STRIP CENTER • 11,306 SF
      2047 Hempstead Tpke, East Meadow, NY 11554-1711
      View Details
    • Value Estimation
      $5,930,000
      14,212 SF

      1850 Frnt St, Unit 1870

      SHOPPING CENTER, STRIP CENTER • 14,212 SF
      1850 Frnt St, East Meadow, NY 11554-2444
      View Details
    • Value Estimation
      $21,430,000
      12,350 SF

      1900 Hempstead Tpke

      SHOPPING CENTER, STRIP CENTER • 12,350 SF
      1900 Hempstead Tpke, East Meadow, NY 11554-1724
      View Details
    • Value Estimation
      $6,750,000
      122,442 SF

      Hempstead Tpke

      SHOPPING CENTER, STRIP CENTER • 122,442 SF
      Hempstead Tpke, East Meadow, NY 11554
      View Details
    • Value Estimation
      $9,775,000
      24,680 SF

      2320 Hempstead Tpke

      SHOPPING CENTER, STRIP CENTER • 24,680 SF
      2320 Hempstead Tpke, East Meadow, NY 11554-2029
      View Details

    Similar Nearby for Sale

    • $360,000

      Turnkey Nail Salon Business

      East Meadow nail salon business for sale with steady clientele.
      1962 Hempstead Tpke, East Meadow, NY 11554
      View Details
    • $4,450,000
      11,500 SF

      East Meadow Retail Opportunity

      Retail property for sale in East Meadow, New York.
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      2,000 SF

      Retail Space with Full Basement

      2,000 SF retail space with a full basement.
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    • $579,000
      1,030 SF

      55+ Community Townhouse with Amenities

      Two-bedroom townhouse in a gated 55+ community with many amenities.
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    • $1,400,000
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      Medical Office Building For Sale

      Excellent investment opportunity in a desirable Long Island location.
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    • $1,150,000
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      East Meadow Office Building For Sale

      Office building in a highly desirable location with ample parking.
      1790 Hempstead Tpke, E Meadow, NY 11554
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Hempstead Turnpike Retail Center

      Prime East Meadow Retail Space Available
      2501 Hempstead Tpke, East Meadow, NY 11554
      View Details
    • Contact for pricing
      4,102 SF

      Prime East Meadow Retail Space

      4,102 SF Freestanding Retail Building
      1600 Hempstead Tpke, East Meadow, NY 11554
      View Details
    • Contact for pricing
      140,000 SF

      Prime Retail Space, Nassau County

      140,000 SF Retail Center - Spaces Available
      1897-1899 Front St, East Meadow, NY 11554
      View Details
    • Contact for pricing
      2,010 SF

      Retail Space on Hempstead Turnpike

      Retail space with high visibility on Hempstead Turnpike.
      2000 Hempstead Tpke, East Meadow, NY 11554
      View Details
    • $40 SF/Yr
      800 SF

      East Meadow Retail Space Available

      Retail space for lease in a great location.
      349-355 Newbridge Rd, East Meadow, NY 11554
      View Details
    • Contact for pricing
      8,360 SF

      Retail Space Near Nassau Hub

      Retail space with high visibility near amenities and undergoing renovations.
      1910-1961 Hempstead Tpke, E Meadow, NY 11554
      View Details
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    East Meadow, NY 11554-1711
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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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