730 Fulton AveHempstead, NY 11550

Property Details for 730 Fulton Ave

Year built

1966

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.19 AC

Property size (Sq ft)

2,475 SF

Property type

Banks

APN

34-439-00-0248

APU

34439000248

Description

This exceptional investment opportunity presents a 4,208-square-foot, two-tenant retail property situated on Fulton Avenue in Hempstead, Long Island, NY. The property boasts a prime corner location with a drive-thru, situated on a 13,543-square-foot lot offering 19 parking spaces. Currently 100% occupied by Insomnia Cookies and Fresh Dining Concepts (Auntie Anne's and Cinnabon), both tenants are under brand-new, 10-year NNN leases with 3% annual rent increases. The leases commenced January 3, 2023, and expire March 30, 2034, providing a remaining lease term of 9.4 years. The property features a total of 4,208 net rentable square feet, with Insomnia Cookies occupying 800 square feet on the ground floor and Fresh Dining Concepts occupying 1,675 square feet on the ground floor and 1,733 square feet on the second floor (storage and offices). The asking price is $3,667,000, representing a price per square foot of $871.44 and a 6.00% cap rate based on a Net Operating Income (NOI) of $220,000. The property benefits from high traffic counts exceeding 54,000 vehicles per day on Fulton Avenue, one of Hempstead's busiest roadways. Its proximity to Hofstra University, with its 11,000+ student population, further enhances its desirability. The building, constructed in 1966, underwent renovations in 2023. The lease structure is true NNN, with tenants responsible for all taxes, insurance, and CAM expenses

• CAP approach

  CAP return

  Valuation

  6%

  $601,511

  6.5%

  $555,241

  7%

  $515,581

• Comparable approach

  Method

  Valuation

  Relative Method

  $814,926

  Geo Method

  $814,926

• Alternative Use

  Use

  Valuation

  Residential

  $468,367

  Hospitality

  $429,021

  Educational

  $356,941

  Medical

  $369,217

  Retail

  $555,241

Location Insight

City

Hempstead

County

Nassau

State

New York

Latitude

40.7127

Longitude

-73.6068

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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