This income generating commercial property features a double storefront on the ground floor, currently occupied by a grocery and deli, with two apartments above a two bedroom and a three ...


Property

Website:https://www.nestseekers.com/4923223
Address:
Hempstead, NY 11550
Ownership: For Sale
Type: Multi-Family
Lot Size: 0.1 Acres

Financials

Price:$925,000
Annual Taxes:$28,860

Description

This income-generating commercial property features a double storefront on the ground floor, currently occupied by a grocery and deli, with two apartments above—a two-bedroom and a three-bedroom. The building boasts a new roof with warranty, upgraded 200-amp electric, and new column supports in the basement. Situated on a corner across from new developments, with more projects underway and a new charter school just a block away, it’s in a vibrant area close to buses, schools, and the train, attracting long-term tenants. Current rents are $3,952 for the deli/grocery, $2,060 for the two-bedroom, and $2,700 for the three-bedroom, with room for increases. The basement and backyard offer additional income potential. At an asking price of $975,000, this property delivers a 7.5% cap rate with upside. Priced to sell—don’t miss out!

Amenities

  • Cable Connected
  • Electricity Connected
  • Natural Gas Connected
  • Phone Connected
  • Sewer Connected
  • Trash Collection Public
  • Water Connected

Contact

6243 Northern Blvd
Phone:
Listing Courtesy of Keller Williams Realty Greater