236-242 Fulton Ave - Medical FOR SALE


Hempstead, NY 11550
$4,375,000 USD
516-737-3638
236-242 Fulton Ave, Hempstead, NY for Sale
$4,375,000 USD
Medical - FOR SALE
1/12
null | 8.74% Cap Rate

236-242 Fulton Ave
Hempstead, NY 11550


HIGHLIGHTS

  • Corner positioning provides exceptional visibility and signage exposure.
  • Strong daytime population generated by government offices, courts, transit users, healthcare workers, and surrounding businesses.
  • Transit-oriented asset supported by Long Island Rail Road commuters.
  • Opportunity to increase value through active management and lease renewals.
  • Downtown Hempstead continues to see public and private investment, supporting future tenant demand.

OVERVIEW

Prime corner mixed-use retail and office asset located at the signalized intersection of Fulton Avenue and North Franklin Street in the heart of Downtown Hempstead. Strong Recent Leasing Momentum Ownership has demonstrated its ability to successfully lease vacant space. Within the past several weeks: • Zoni Language Center, one of the property's largest tenants, executed a new 2-year lease extension. • RIA Money Transfer extended its lease through December 2027. • The former vacant 224 SF was leased to an Orthopedic Office at $900 per month on a new lease. Capital Investment by Tenant Health first One of the property's anchor tenants, Health first, invested over $1.1 million into its space, including the installation of new electrical panels, a new boiler system, and extensive interior improvements to their space. This significant capital commitment demonstrates the tenant's long-term investment in the property and substantially reduces future capital expenditure concerns for a new owner. Major Building Systems Already Updated The property's roof was completely replaced in 2017, providing investors with condence that one of the building's most signicant capital items has already been addressed. Combined with the recent electrical and mechanical upgrades, the asset oers a strong physical plant with limited near-term deferred maintenance. Approximately 19,926 SF consisting of street-level retail and second-floor office suites. Direct access to municipal parking immediately behind the property. Elevator-served building with strong visibility from multiple directions. One of the most recognizable commercial corners in Hempstead. Direct access to municipal parking immediately behind the property.

FOR SALE DETAILS

PRICE

$4,375,000 USD

PRICE/SF

$122 USD /SF

CAP RATE

8.74%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1938

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

C4

APN/PARCEL ID

2013-34-339-00-0101-0

ASK ABOUT THIS PROPERTY

Abraham AdjmiSilber Investment Properties, LTDMore Info
516-737-3638

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Abraham AdjmiSilber Investment Properties, LTDMore Info
516-737-3638

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.