Hempstead, NY
Commercial Real Estate Market Trends & Data

$439 Avg asking sale price
$1,116 Avg asking lease rate
16,669 SF Avg unit lease size
24,764 SF Avg building size for sale
7.37% Average cap rate

Hempstead's Demographic Profile

Hempstead has 16,107 households and a median income of $75,700, providing context for rent absorption and tenant demand across retail and multifamily assets. A -2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 58,551
# Households 16,107
Median age 37
Median household income $75,700
Avg household size 3.0
Renter-occupied housing units 9,822
5-year population change -2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Hempstead, NY

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Hempstead $470 21,942 SF 8.74%
West Hempstead $225 62,100 SF 7.59%
Garden City $361 20,523 SF 8.74%
Rockville Centre $445 4,196 SF 8.11%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Hempstead $272 40,703 SF 7.03%
Uniondale $519 56,921 SF 7.03%
Garden City $292 39,215 SF 7.03%
Nearby Retail Markets Avg Cost/SF Typical Size
Hempstead $268 14,777 SF
Uniondale $598 4,934 SF
West Hempstead $325 4,628 SF
Garden City $830 10,265 SF
Roosevelt $486 6,734 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Garden City $246 14,250 SF 5.31%
Mineola $246 14,250 SF 5.31%
Freeport $404 9,650 SF 5.70%

Commercial Properties For Sale in Hempstead

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

The Devon on Greenwich

Hempstead, NY 11550

  • 49,952 SF Multifamily
  • $12,950,000
For Sale

236-242 Fulton Ave

Hempstead, NY 11550

  • 36,000 SF Office Building
  • 8.74% Cap Rate
  • $4,375,000
For Sale

Plaza 230

Hempstead, NY 11550

  • 68,182 SF Office Building
  • $500,000
For Sale

# 9

Hempstead, NY 11550

  • 68,182 SF Office Building
  • $229,888
For Sale

Office Center at Mitchel Field

Garden City, NY 11530

  • 168,752 SF Office Building
  • $1,299,000
For Sale

145 N Franklin St

Hempstead, NY 11550

  • 45,045 SF Office Building
  • $17,995,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Hempstead pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Hempstead $439 24,764 SF
Uniondale $311 57,624 SF
West Hempstead $357 18,145 SF
Garden City $462 20,280 SF

Multifamily Properties For Sale in Hempstead

For Sale

The Devon on Greenwich

Hempstead, NY 11550

  • 49,952 SF Multifamily
  • $12,950,000

Regional Demographic Comparison

This comparison places Hempstead alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Hempstead or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Hempstead 58,551 16,107 37 $75,700 3 9,822 -2%
Uniondale 25,468 6,000 38 $99,073 4 1,717 -2%
West Hempstead 19,319 5,910 40 $138,495 3 889 -2%
Garden City South 3,617 1,224 44 $141,071 3 160 -4%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Hempstead, NY and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Hempstead

View All Commercial Real Estate For Sale in Hempstead
Is Hempstead a good market for a first-time commercial real estate investor?

Hempstead offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Hempstead?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Hempstead. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Hempstead?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Hempstead. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Hempstead compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Hempstead. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Hempstead acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Hempstead, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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