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Cherry Valley Shopping Center 490-520 Hempstead Tpke
15,000 SF of Retail Space Available in West Hempstead, NY 11552
Highlights
- Newly renovated with parking area to accommodate over 300 cars.
- Historic 60 feet tall arc known as the "1964/1965 New York World's Fair Arc" with illuminated billboard pylon sign.
- Part of the Cherry Valley Shopping Center at the corner of Hempstead Turnpike (traffic counts of 30,000+ cars daily) and Cherry Valley Avenue.
- Signalized intersection of Hempstead Turnpike and Cherry Valley Avenue.
- Upscale neighborhood shopping center, serves the area surrounding the densely populated.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 15,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
490-520 Hempstead Tpke - 1st Floor
Available now for immediate move in, Aldad and Associates offers a 15,000 square foot, partially built-out retail anchor space, formerly the Cherry Valley Supermarket. Prominently situated within the Cherry Valley Shopping Center, a landmark strip mall, the Center has surface parking for over three hundred cars (ratio 3.89/1,000 SF); a historic 60 feet tall arc (known as the "1964/1965 New York World's Fair Arc") and pylon signage at the signalized corner intersection of Hempstead Turnpike (traffic counts of 30,000+ cars daily) and Cherry Valley Avenue. The space does not have shelves or freezers but requires minimal cosmetic improvements to wall paint from a new tenant. Refer to the YouTube video for more information.
- Partially Built-Out as Standard Retail Space
- Located in-line with other retail
- Anchor Space
- Central Air Conditioning
- High Ceilings
- Former supermarket anchor space
- Equipment not included.
- High visibility retail opportunity
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT Cherry Valley Shopping Center
- Tenant
- Description
- US Locations
- Reach
- Cherry Valley Market Place
- Supermarket
- 1
- Local
- Larosa's Restaurant & Pizza
- Restaurant
- 1
- Local
- Rite Aid
- Drug Store
- 3,409
- National
- S K 168 Wine & Liquor
- Liquor
- 1
- Local
- Sunny Nail Spa Inc
- Nail Salon
- 1
- Local
- Wayback Burgers
- Fast-food
- 208
- International
| Tenant | Description | US Locations | Reach |
| Cherry Valley Market Place | Supermarket | 1 | Local |
| Larosa's Restaurant & Pizza | Restaurant | 1 | Local |
| Rite Aid | Drug Store | 3,409 | National |
| S K 168 Wine & Liquor | Liquor | 1 | Local |
| Sunny Nail Spa Inc | Nail Salon | 1 | Local |
| Wayback Burgers | Fast-food | 208 | International |
PROPERTY FACTS FOR 490-520 Hempstead Tpke , West Hempstead, NY 11552
| Center Type | Neighborhood Center | Gross Leasable Area | 98,570 SF |
| Parking | 410 Spaces | Total Land Area | 6.08 AC |
| Stores | 3 | Year Built | 1992 |
| Center Properties | 3 |
| Center Type | Neighborhood Center |
| Parking | 410 Spaces |
| Stores | 3 |
| Center Properties | 3 |
| Gross Leasable Area | 98,570 SF |
| Total Land Area | 6.08 AC |
| Year Built | 1992 |
About the Property
** FOR ADDITIONAL INFORMATION PLEASE VISIT: www.CherryValleyCenter.com The Center is strategically established on 4.87 acres of land and was built in 1992 with a 77,180 square feet retail and office space. With recent major renovations, it has a newly paved parking area in front of its retail operations to accommodate over three hundred cars (ratio 3.89/1,000 SF); two convenient major street entrances with dedicated turn lanes; and a historic 60 feet tall arc (known as the "1964/1965 New York World's Fair Arc") and a huge illuminated billboard pylon sign that lists the tenants' names. It is situated on the signalized corner intersection of a very busy road, Hempstead Turnpike (traffic counts of 30,000+ cars daily) and Cherry Valley Avenue. For public transportation convenience, it is on the direct bus line of Hempstead Turnpike and near the Long Island Rail Road train stops. Further, being on the border of both the Village of Garden City and the area of Franklin Square in West Hempstead, the Center caters to a variety of demographic populations. The current anchor tenants include the well-known Cherry Valley Supermarket, and Rite Aid pharmacy. Additional tenants include Raxx Sports Bar & Billiards, Wayback Burgers, Subway, Larosa's Restaurant & Pizzeria, Kumamoto Asian bistro, Nail Spa, Cohen's Fashion Optical, Liquor Store, Dry Cleaners and more.
DEMOGRAPHICS
Demographics
Nearby Major Retailers
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Cherry Valley Shopping Center | 490-520 Hempstead Tpke
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