229 Franklin St Hempstead, NY 11550

This exceptional investment opportunity presents a unique chance to acquire a mixed-use property located at 229 S Franklin St, Hempstead, NY. The property encompasses two buildings on a 0.15-acre lot, totaling 4,428 square feet. The first structure is a two-story detached building featuring a ground-floor retail space currently leased to a deli. This lease extends until 2031, with a single five-year renewal option and a 3% annual rent increase. The lease is semi-net, with the tenant responsible for specific repairs, maintenance, utilities, and liability insurance. Above the retail space are three residential units. The second structure is entirely residential, with month-to-month tenants. The property's potential gross income is estimated at $160,000 annually, with potential for increased income through light renovations to the residential units. Real estate taxes are $37,660 annually. Detailed income and expense statements are available upon request. Note that this listing is for 229 S Franklin St only