2921-2953 Hempstead Tpke 54,110 SF 94% Leased Retail Building Levittown, NY 11756 $22,500,000 ($415.82/SF) 6.24% Cap Rate
INVESTMENT HIGHLIGHTS
- Incredible visibility and access on Hempstead Tpke.
- Extensive recent renovations for multiple restaurant users
- Shadow-anchored by Staples, PC Richard, Skechers, and Wren Kitchens
- Resilient and synergistic tenant mix including 7 restaurants!
- All municipal parking with extensive parking field in rear
EXECUTIVE SUMMARY
Prime Long Island multi-tenant retail property, on extremely busy retail and business corridor of Hempstead Tpke. in Levittown. The property is home to retail, food service, services, and entertainment tenants and is located in a combined development with shadow-anchors including Staples and PC Richard. Municipal parking lot, including huge rear parking field, maintained by town. Extensive bespoke improvements for recent tenants including IHop, Izumi, WingStop, and four additional restaurants.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
54,110 SF
Building Class
B
Year Built
1985
Price
$22,500,000
Price Per SF
$415.82
Cap Rate
6.24%
NOI
$1,404,155
Percent Leased
94%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.68
Lot Size
1.83 AC
Zoning
Commercial - Commercial
Parking
130 Spaces (2.46 Spaces per 1,000 SF Leased)
Frontage
360’ on Hempstead Turnpike
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Freeway Visibility
- Restaurant
- Security System
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Accent Lighting
- Storage Space
- Recessed Lighting
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Inline, retail. Call for rental rates.
| Space | Size | Space Use | Position | Available |
| 2947 Hempstead Tpke | 3,000 SF | Retail | In-Line | Now |
2947 Hempstead Tpke
| Size |
| 3,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Walk Score®
Very Walkable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2089-45-M-00-0024-0 | Improvements Assessment | $45,348 |
| Land Assessment | $20,042 | Total Assessment | $65,390 |
