Listed by Silber Investment Properties Ltd
$2,950,000
Mixed Use Retail Property | Hempstead, NY
Details
Property Type Retail, Mixed Use
Sub Type Shopping Center
Square Footage 10,100
Cap Rate 7.00%
NOI $208,815
Tenancy Multi
Lease Type NN
Price per SqFt $292
Buildings 1
Stories 2
Investment Type Value Add
Ground Lease No
Retail | 7.00% CAP | 10,100 SqFt
Marketing description
Positioned on Hempstead's primary retail corridor (11,917 VPD), walking distance to the LIRR station, at a below-replacement-cost basis of ~$292/SF in a supply-constrained submarket. More than 219,000 residents within 3 miles ($153K average household income), served by seven necessity-based, e-commerce-resistant tenants with staggered 2026–2031 expirations.
Investment highlights
- Value-Add Lease-Up Upside - Two vacant units (1300 SF) are carried at placeholder rents of $18.46/SF, well below the $32.23/SF center average. Leasing to market delivers immediate upside on top of the current return.
- Irreplaceable Transit-Oriented Main Street Location - Hard-corner positioning on Hempstead's primary retail corridor (11,917 VPD), walking distance to the LIRR station, at a below-replacement-cost basis of ~$292/SF in a supply-constrained submarket.
- Exceptional Demographics & Granular Tenancy - More than 219,000 residents within 3 miles ($153K average household income), served by seven necessity-based, e-commerce-resistant tenants with staggered 2026–2031 expirations.
- Surrounded by National Credit Retail - Home Depot, Aldi, TJ Maxx, Chase Bank, Wendy's, KFC, and Burger King all drive consistent foot traffic to the trade area.
Listing Contacts
Listed by Silber Investment Properties Ltd
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$208,815.00
$17,401.25/mo
Valuation Metrics
0
DSCR
7.08%
Cap Rate
7.08%
ROI
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