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238-248 Front St 13,850 SF 100% Leased Retail Building Hempstead, NY 11550 $4,975,000 ($359.21/SF) 6.13% Cap Rate
Investment Highlights
- 100% Leased Neighborhood Retail Asset
- Diversified Food & Service Tenant Mix
- Durable Cash Flow with 6.3-Year WALT
- Dense Nassau County Retail Corridor Location
Executive Summary
Cushman & Wakefield is pleased to exclusively present 238–248 Front Street in Hempstead, NY, a fully leased neighborhood retail strip totaling approximately 13,850 square feet. The property is leased to a diversified mix of service-oriented and food & beverage tenants generating immediate in-place cash flow supported by strong daily-needs demand.
With a weighted average lease term of approximately 6.3 years, the tenancy profile provides predictable income, limited near-term rollover exposure, and reduced cash flow volatility.
Located along Front Street in the Village of Hempstead, the property benefits from a dense surrounding residential population, strong neighborhood retail demand, and proximity to major institutional anchors including NYU Langone Hospital, Hofstra University, and Nassau Community College. The offering presents investors the opportunity to acquire a stabilized retail asset with durable income within an active Nassau County commercial corridor.
With a weighted average lease term of approximately 6.3 years, the tenancy profile provides predictable income, limited near-term rollover exposure, and reduced cash flow volatility.
Located along Front Street in the Village of Hempstead, the property benefits from a dense surrounding residential population, strong neighborhood retail demand, and proximity to major institutional anchors including NYU Langone Hospital, Hofstra University, and Nassau Community College. The offering presents investors the opportunity to acquire a stabilized retail asset with durable income within an active Nassau County commercial corridor.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
13,850 SF
Building Class
C
Year Built
1954
Price
$4,975,000
Price Per SF
$359.21
Cap Rate
6.13%
NOI
$304,760
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.66
Lot Size
0.48 AC
Zoning
Business (B) - Business (B) zoning allowing neighborhood retail, restaurant, and service uses within the Village of Hempstead commercial corridor.
Parking
15 Spaces (1.08 Spaces per 1,000 SF Leased)
Frontage
122’ on Front St
Amenities
- Signage
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- 500 Grados Mexican Grill
- Accommodation and Food Services
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99,999 SF
- -
-
Jan 0000
- AKI Express Inc
- Transportation and Warehousing
-
99,999 SF
- -
-
Jan 0000
- El Ajicito
- Accommodation and Food Services
-
99,999 SF
- -
-
Jan 0000
- Fredy's Deli Cafe
- Accommodation and Food Services
-
99,999 SF
- -
-
Jan 0000
- Randy Style Barber Shop
- Services
-
99,999 SF
- -
-
Jan 0000
- Real Taste Bakery
- Accommodation and Food Services
-
99,999 SF
- -
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| 500 Grados Mexican Grill | Accommodation and Food Services | 99,999 SF | - | Jan 0000 | ||
| AKI Express Inc | Transportation and Warehousing | 99,999 SF | - | Jan 0000 | ||
| El Ajicito | Accommodation and Food Services | 99,999 SF | - | Jan 0000 | ||
| Fredy's Deli Cafe | Accommodation and Food Services | 99,999 SF | - | Jan 0000 | ||
| Randy Style Barber Shop | Services | 99,999 SF | - | Jan 0000 | ||
| Real Taste Bakery | Accommodation and Food Services | 99,999 SF | - | Jan 0000 |
Walk Score®
Walker's Paradise (94)
Nearby Major Retailers
Property Taxes
| Parcel Number | 2013-35-328-01-0328-0 | Improvements Assessment | $5,488 |
| Land Assessment | $3,212 | Total Assessment | $8,700 |
Property Taxes
Parcel Number
2013-35-328-01-0328-0
Land Assessment
$3,212
Improvements Assessment
$5,488
Total Assessment
$8,700
Contacts
-
Daniel Abbondandolo -
Joegy Raju -
Victor Little -
Lincoln Cioffi -
Cushman & Wakefield
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238-248 Front St
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