Value Add Shopping Center - 46-50 Fulton Ave, Hempstead, NY
Retail | 7.50% CAP | 17,500 SqFt
Marketing description
Northmarq, as exclusive agent, is proud to offer for sale to qualified
investors the opportunity to acquire the fee-simple interest in the two building
shopping center located at 46-50 Fulton Ave in Hempstead, NY.
The 17,500 square-foot property is 100% occupied and sits on a .95-acre
corner lot with 50 dedicated customer parking spaces on a high visible
corner in a rapidly growing part of Hempstead, Long Island. With nearby
national retailers including Home Depot, Chase Bank, Burger King, Wells
Fargo Bank, Old Navy and Advanced Auto Parts and in close proximity
to LIRR stations and the Southern State Parkway, the site boasts an optimal
location with high foot traffic and vehicle counts.
Made up of a diverse and internet-resistant lineup of both food and
service tenants, the asset provides an optimal mix of tenants that provide
both stability and upside with many of the tenants being in place for over
20 years. These tenants serve a highly affluent and dense population with
over 33,000 people in a 1-mile radius with an average household income
of over $117,000.
Investment highlights
Prime Location
Located near multiple major national retailers, such as Home Depot, the LIRR, and more, the property's location is positioned for continued demand and success.
Heavily Trafficked Area
The center is prominently located off of Fulton ave which provides consistent foot and vehicle traffic.
Synergistic Service Oriented Tenant Mix
A mix of food & service-oriented retailers creates an appealing and internet-resistant lineup that perfectly compliments the nearby national retailers.
100% occupancy with long term tenants
The site is 100% occupied with many of the tenants being in place for over 20 years.
Leasing upside
Many of the tenants have no remaining options, providing multiple mark to market opportunities for new owners.
NYC MSA
The site is located on Long Island, less than 30 miles from New York City.
Strong Demographics
The property benefits from a population of over 36K people within a 1 mile radius and an average house hold income of over $100,000.
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