For Sale
$11,999,999

46 Fulton Ave Hempstead, NY 11550

Two Buildings, High Occupancy, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional investment opportunity presents two contiguous, fully-occupied freestanding retail buildings totaling 27,984 square feet situated on a 41,735 square foot lot in Hempstead, NY. The property boasts 100% occupancy with eleven tenants under gross leases, generating a strong net operating income (NOI) of $612,144 and a 5.10% cap rate. Built in 1983 and 2006, these single-story Class C buildings benefit from 35 on-site parking spaces and a prime location on Fulton Avenue, offering excellent visibility and frontage. Tenants contribute to water and sanitation costs. The property is zoned for commercial use and enjoys a strategic location near national retailers such as AutoZone, T-Mobile, Chase Bank, Burger King, Five Below, KFC, and Home Depot, as well as the West Hempstead LIRR train station. The asking price is $11,999,999, representing a compelling investment in a stabilized, multi-tenant retail portfolio with significant upside potential. The property features fee simple ownership and includes two separate APNs: 2013-34-295-00-0051-0 and 2013-34-295-00-0049-0.

Highlights

  • Two contiguous, fully-occupied retail buildings totaling 27,984 square feet on a 41,735 square foot lot in Hempstead, NY.
  • 35+ on-site parking spaces.
  • Tenants contribute to water and sanitation costs.
  • Excellent visibility and frontage on Fulton Avenue.
  • Prime location near national retailers including AutoZone, T-Mobile, Chase Bank, Burger King, Five Below, KFC, and Home Depot, and the West Hempstead LIRR station.
  • Walking distance to the West Hempstead LIRR train station.

Property Details for 46 Fulton Ave

Property type
Lifestyle centers, Power centers
Square Feet
27,984 SF
Class
C
Year Built
1983
Buildings
2
Stories
1

Location Insight

City
Hempstead
County
Nassau
State
New York
Latitude
40.705109
Longitude
-73.6350863
46 Fulton Ave, Hempstead, New York

FAQs

What type of property is this?
Lifestyle center - Two Buildings, High Occupancy, Strong NOI
Where is the lifestyle center located?
The property is located at 46 Fulton Ave Hempstead, NY.
What is the asking price?
The asking price for this property is $11,999,999.
What are key features of this property?
This property features: Two contiguous, fully-occupied retail buildings totaling 27,984 square feet on a 41,735 square foot lot in Hempstead, NY.; 35+ on-site parking spaces.; Tenants contribute to water and sanitation costs.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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46 Fulton Ave
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