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46-50 Fulton Ave
Hempstead, NY 11550
Retail Property For Sale
Investment Highlights
- Prime Location
- Synergistic Service-Oriented Tenant Mix
- Leasing Upside
- Heavily Trafficked Area
- 100% Occupancy With Long-Term Tenants
- NYC MSA
Executive Summary
Northmarq, as exclusive agent, is proud to offer for sale to qualified investors the opportunity to acquire the fee-simple interest in the two-building shopping center located at 46-50 Fulton Ave in Hempstead, NY.
The 17,500-square-foot property is 100% occupied and sits on a .95-acre corner lot with 50 dedicated customer parking spaces on a highly visible corner in a rapidly growing part of Hempstead, Long Island. With nearby national retailers including Home Depot, Chase Bank, Burger King, Wells Fargo Bank, Old Navy and Advance Auto Parts, and in close proximity to LIRR stations and the Southern State Parkway, the site boasts an optimal location with high foot traffic and vehicle counts.
Made up of a diverse and internet-resistant lineup of both food and service tenants, the asset provides an optimal mix of tenants that provide both stability and upside with many of the tenants being in place for over 20 years. These tenants serve a highly affluent and dense population with over 33,000 people in a 1-mile radius with an average household income of over $117,000.
The 17,500-square-foot property is 100% occupied and sits on a .95-acre corner lot with 50 dedicated customer parking spaces on a highly visible corner in a rapidly growing part of Hempstead, Long Island. With nearby national retailers including Home Depot, Chase Bank, Burger King, Wells Fargo Bank, Old Navy and Advance Auto Parts, and in close proximity to LIRR stations and the Southern State Parkway, the site boasts an optimal location with high foot traffic and vehicle counts.
Made up of a diverse and internet-resistant lineup of both food and service tenants, the asset provides an optimal mix of tenants that provide both stability and upside with many of the tenants being in place for over 20 years. These tenants serve a highly affluent and dense population with over 33,000 people in a 1-mile radius with an average household income of over $117,000.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
17,500 SF
Building Class
C
Year Built
1983
Price
$8,645,000
Price Per SF
$494
Cap Rate
7.50%
NOI
$648,347
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.42
Lot Size
0.95 AC
Zoning
C - Commercial
Parking
50 Spaces (2.86 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signalized Intersection
Property Taxes
| Parcel Numbers | Improvements Assessment | $11,243 | |
| Land Assessment | $10,817 | Total Assessment | $22,060 |
Property Taxes
Parcel Numbers
Land Assessment
$10,817
Improvements Assessment
$11,243
Total Assessment
$22,060
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