Retail & Medical Office Building in West Hempstead

444 Hempstead Turnpike, West Hempstead, NY

$1,650,000

Price

4.97%

Cap Rate

$81,980

NOI

Gallery
Street
Map
Overview
Cap Rate
4.97%
NOI
$81,980
Building Size
10,000 sqft
Lot Area
12,781 sqft
Occupancy
100%
Class
B
Lease Type
Modified Gross
Year Built
1958
Price Per Sqft
$165
Zoning
Commercial
Tenancy
Multiple
Parking Spots
55
Gross Leaseable Area
10000
Investment Strategy
Opportunistic
Description

At this location is a 5,000 SF building of retail/medical office space, plus a full-size basement. Tenants at this location pay annual rent increases. Near the building is a bustling shopping center and Cherry Valley Plaza. Additionally, this property is surrounded by a McDonald's, several restaurants, gas stations, and other neighborhood retail. The property sits on the busy Hempstead Turnpike which boasts strong traffic counts and accommodates the convenient n6 bus line.

Highlights
  • For Sale: Retail/Medical Office Building in West Hempstead, NY
  • Tenants Have 3% Annual Rent Increases
  • Close to Shopping Centers & Neighborhood Retail
  • Prime Location & Strong Traffic Counts
  • Building has 5,000 SF of Space on the Ground Level and 5,000 SF in the Basement
Documents
Title
West_Hempstead__444_Hempstead_Tpke__Offering_Memorandum__October23.pdf
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Location
Gallery