24-26 Main StHempstead, NY 11550

This exceptional mixed-use property, located at 24-26 Main St, Hempstead, NY 11550, presents a compelling value-add opportunity. The 25,806 square foot building, constructed in 1948, features a desirable mix of retail and traditional office space, currently occupied by three tenants. The building boasts high ceilings and a full basement. The current Net Operating Income (NOI) stands at $262,954, yielding a 7.52% cap rate on the $3,499,000 asking price. The property is zoned for commercial use and sits on a 21,179 square foot lot. The lease structure includes a month-to-month tenant and a restaurant tenant with a lease expiring in 2027, featuring 3% annual rent increases. This prime location offers excellent visibility and accessibility, situated near major roadways including Front St, Peninsula Blvd, and Fulton Ave, and surrounded by numerous national retail tenants such as Bank of America, Harbor Freight, Bethpage Federal Credit Union, TJ Maxx, McDonald's, and Five Below. This is a fee simple ownership opportunity with significant upside potential for an opportunistic investor. The property is classified as Class C with a gross lease type. The price per square foot is $135.59.