New search
Property profile & analytics
FOR LEASE
Office buildings
40 Main St, Hempstead, NY 11550
Entity Owned
28-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-0270161
For Lease
1 / 2
$720,000
40 Main St, Hempstead, NY 11550
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,925 SF
Lot
0.46 ac (20,212 SF)
APN
34-340-00-0012
UPID
US63-0270161
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Long Island Regional Immigration Assistance Center Government Office
-
Nassau County Housing Affairs County Government Office
-
Nassau County Legal Aid Law Firm
-
Nassau County Office of Hispanic Affairs (C.A.S.A.) County Government Office
-
Nassau County Office of Hispanic Affairs County Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$670k
CAP Approach
CAP
$545k
Comparable Approach
Comparable
$664k
Blend (final)
Blend
$720k
Owner & transaction history
Sggl Realty INC · 28 yrs held
Sggl Realty INC
since 1998
Last sale
$725,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+31.1%
Warehouse, storage
$970,000
+12.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hempstead submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hempstead submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$825,000
ML approach
$670,000
CAP Approach
CAP Return
Estimation
6%
$590,000
6.5%
$545,000
7%
$505,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$860,000
Current use
AUTO REPAIR, GARAGE
$1,125,000
Change: +31% · Conversion: Difficult
WAREHOUSE, STORAGE
$970,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$840,000
Change: -2% · Conversion: Easy
RETAIL STORES
$815,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$720k
Range $648k – $792k · ±10% · vs last sale $725k (Sep 22 2020)
Last sale anchor
$725k
Sep 22 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$374 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$215,993
Tax year 2023
Assessed value
$59,132
Assessed 2023
Previous assessed
$44,453
+33.0% YoY
Effective rate
365.27%
On assessed value
Assessed land
$7,080
Assessed improvement
$52,052
Total market value
$5,913,200
Applied tax rate
399.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
1,925 SF
Lot
0.46 ac (20,212 SF)
APN
34-340-00-0012
UPID
US63-0270161
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$970,000
COMMERCIAL (GENERAL)
Est. value
$840,000
RETAIL STORES
Est. value
$815,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.46 ac
Current owner
From public records · entity-resolved
Sggl Realty INC
Entity
Free & Clear · 28 yrs held
Mailing address
600 MAMARONECK AVE STE #302, HARRISON, NY 10528-1613
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 1998
$550,000
Sggl Realty INC
Cohen Hempstead Properties INC
Grant Deed
—
—
—
Three Arrows Hempstead LLC
—
Deed Of Trust
related
$2,396,162 · Wells Fargo Bk Northwest (ce)
—
—
Three Arrows Hempstead LLC
—
Deed Of Trust
related
$8,160,000 · Wells Fargo Bk Northwest (ce)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
