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Corner Mixed-Use with Immense Upside 2 Properties Offered at $7,499,000 in Franklin Square, NY
INVESTMENT HIGHLIGHTS
- Fully leased ±44,443 rentable square-foot mixed-use asset on two continuous parcels with a diverse tenancy and strong NOI.
- Asset features four office units, 15 retail units, 19 residential units, and off-street parking, providing convenience for tenants and customers.
- Strong demand drivers such as the UBS Arena, Belmont Park racetrack, various country clubs, Adelphi and Hofstra Universities, and more.
- Located on a signalized intersection, offering unrivaled exposure to over 32,000 daily vehicles on Hempstead Turnpike and 22,000 New Hyde Park Road
- In a densely populated area with an annual household income of $118,955, ideal for businesses seeking to capitalize on high disposable incomes.
- Central Nassau submarket is the fourth-largest on Long Island, which has seen low vacancy rates and growing rental rates for retail and multifamily.
EXECUTIVE SUMMARY
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.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
PROPERTY FACTS
| Price | $7,499,000 | Number of Properties | 2 |
| Price / SF | $158.62 / SF | Individually For Sale | 0 |
| Cap Rate | 8% | Total Building Size | 47,278 SF |
| Sale Type | Investment | Total Land Area | 0.86 AC |
| Status | Active |
| Price | $7,499,000 |
| Price / SF | $158.62 / SF |
| Cap Rate | 8% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 47,278 SF |
| Total Land Area | 0.86 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 942-956 Hempstead Tpke, Franklin Square, NY 11010 | Multifamily | 24,503 SF | 1923 | - |
| 4 New Hyde Park Rd, Franklin Square, NY 11010 | Office | 22,775 SF | 1928 | - |
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Corner Mixed-Use with Immense Upside
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