Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    206-208 Franklin St Hempstead, NY 11550

    • Investment properties
    • 3,640 SF
    • 0.12 lot acres
    OFF-MARKET
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3484858
    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

    • Investment properties

    Property Details for 206-208 Franklin St

    Year built
    1957
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.12 lot acres
    Property size
    3,640 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    34-366-00-0292
    APU
    34366000292

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $835,000
      6.5%
      $775,000
      7%
      $720,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $849,000
      Market price range: $74.3k - $1.49M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6228
    Latitude
    40.6991
    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
    $34,858
    $1,294
    $6,512
    $7,806
    -
    $0.00
    $0.00
    $780,600

    Comparable in this City

    • Value Estimation
      $950,000
      4,279 SF

      359 Clinton St, Unit 366

      OFFICE/RESIDENTIAL (MIXED USE) • 4,279 SF
      359 Clinton St, Hempstead, NY 11550-1731
      View Details
    • Value Estimation
      $585,000
      1,434 SF

      147 Graham Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,434 SF
      147 Graham Ave, Hempstead, NY 11550-6143
      View Details
    • Value Estimation by Request
      680 SF

      520 Hemp Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 680 SF
      520 Hemp Blvd, Hempstead, NY 11550-4364
      View Details
    • Value Estimation
      $1,440,000
      5,124 SF

      424 Clinton St, Unit 428

      OFFICE/RESIDENTIAL (MIXED USE) • 5,124 SF
      424 Clinton St, Hempstead, NY 11550-1738
      View Details
    • Value Estimation
      $515,000
      1,225 SF

      17 Un Pl

      OFFICE/RESIDENTIAL (MIXED USE) • 1,225 SF
      17 Un Pl, Hempstead, NY 11550-1407
      View Details
    • Value Estimation
      $680,000
      1,440 SF

      229 Franklin St, Unit 235

      OFFICE/RESIDENTIAL (MIXED USE) • 1,440 SF
      229 Franklin St, Hempstead, NY 11550-6135
      View Details

    Similar Nearby for Sale

    • $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
    • $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
    • $5,580,000
      Pending

      Hempstead Retail Investment Opportunity

      Prime retail strip mall in bustling Hempstead, NY.
      158 Main 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
    • $520,000
      Pending

      Mixed-Use Building in Hempstead, NY

      Two-level mixed-use building with commercial space and apartments.
      678 Fulton Ave, 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
    • $4,100 /Mo

      Renovated Apartment with Four Bedrooms

      Fully renovated, bright, and sunny four-bedroom apartment for rent.
      28 James L L Burrell Ave, Hempstead, NY 11550
      View Details
    • $3,500 /Mo
      5,685 SF

      Commercial Space in Hempstead, NY

      Versatile commercial space suitable for storage, warehouse, or e-commerce.
      72 Fulton Ave, Hempstead, NY 11550
      View Details
    • $9,999 /Mo
      12,537 SF

      Hempstead Showroom/Storage Space Available

      3,000 SF showroom/storage space in high-traffic Hempstead location.
      218 Front St, Hempstead, NY 11550
      View Details
    • Contact for pricing
      62,100 SF

      Hempstead Office Space Available

      62,100 SF office space for rent in Hempstead, NY.
      1 Fulton Ave, Hempstead, NY 11550
      View Details
    • $3,300 /Mo

      Renovated Three-Bedroom Apartment For Rent

      Renovated 3-bedroom apartment in a two-family home, convenient location.
      287-289 Stewart Ave, 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.
    206-208 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.

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!