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2552-2566 Hempstead Tpke 11,045 SF 100% Leased Retail Building East Meadow, NY 11554 $4,450,000 ($402.90/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Small strip retail on heavily trafficked road
EXECUTIVE SUMMARY
Built-in increases raise the base rent $20,000 over the next two years.
Taxes are protested and attorney expects to have them decreased.
Rents are low for this area.
Plenty of upside.
Taxes are protested and attorney expects to have them decreased.
Rents are low for this area.
Plenty of upside.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$398,293
|
$36.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$398,293
|
$36.06
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$131,192
|
$11.88
|
| Net Operating Income |
$267,101
|
$24.18
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $398,293 |
| Annual Per SF | $36.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $398,293 |
| Annual Per SF | $36.06 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $131,192 |
| Annual Per SF | $11.88 |
| Net Operating Income | |
|---|---|
| Annual | $267,101 |
| Annual Per SF | $24.18 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
11,045 SF
Building Class
C
Year Built
1950
Price
$4,450,000
Price Per SF
$402.90
Cap Rate
6%
NOI
$267,101
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.42
Lot Size
0.60 AC
Parking
25 Spaces (2.17 Spaces per 1,000 SF Leased)
Frontage
146’ on Hempstead Tpke
ABOUT 2552-2566 HEMPSTEAD TPKE , EAST MEADOW, NY 11554
ONE STORY MASONRY BUILDING - 9 STORES
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Funtazia World
- -
- 1,265 SF
- -
- -
- L.Lotus Day Spa
- -
- 1,265 SF
- -
- -
- Lucky China Fast Food Inc
- -
- 1,265 SF
- -
- -
- Raging Bull Pub Inc
- -
- 1,265 SF
- -
- -
- Tiffin Meals Indian Restaurant
- -
- 1,265 SF
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Funtazia World | - | 1,265 SF | - | - | ||
| L.Lotus Day Spa | - | 1,265 SF | - | - | ||
| Lucky China Fast Food Inc | - | 1,265 SF | - | - | ||
| Raging Bull Pub Inc | - | 1,265 SF | - | - | ||
| Tiffin Meals Indian Restaurant | - | 1,265 SF | - | - |
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
1 of 10
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2552-2566 Hempstead Tpke
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