Mixed-Use Building in Franklin Square

942-956 Hempstead Turnpike, Franklin Square, NY

$8,249,000

Price

7.09%

Cap Rate

$584,844

NOI

Gallery
Street
Map
Overview
Cap Rate
7.09%
NOI
$584,844
Building Size
41,000 sqft
Lot Area
32,578 sqft
Occupancy
100%
Class
C
Units
39
Lease Type
Modified Gross
Year Built
1923 / 1928
Price Per Sqft
$201
Zoning
Commercial
Tenancy
Multiple
Floors
2
Parking Spots
10
Investment Strategy
Opportunistic
Description

At this location is a mixed-use building consisting of 5 office units, 15 retail units, and 19 residential units. This property is located on a signalized intersection and is surrounded by various other neighborhood retail & amenities. There are 10 on-site parking spaces located behind the building.

Highlights
  • Mixed-Use Building Composed of Commercial & Residential Units
  • There are 5 Office Units, 15 Retail Units, and 19 Residential Units
  • Located on a Signalized Intersection
  • High Traffic Counts: 32,806 Cars Per Day on Hempstead Tpke
  • Surrounded by Various Neighborhood Retail
  • Close Proximity to the Stewart Manor LIRR Train Station
  • There are 10 On-Site Parking Spaces Located Behind the Building
  • Two of the Four Offices have Bathrooms - The Other Two Offices use the Bathroom in the Hallway
Documents
Title
Franklin_Square__942-956_Hempstead_Tpke___4-20_New_Hyde_Park_Rd__Offering_Memorandum__April2024.pdf
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery