MLS#911557
STATUSActive
PROPERTY TYPECommercial -
Property Description
This income-generating commercial property features a double storefront on the ground floor, currently occupied by a grocery and deli, with two apartments above-a two-bedroom and a three-bedroom. The building boasts a new roof with warranty, upgraded 200-amp electric, and new column supports in the basement. Situated on a corner across from new developments, with more projects underway and a new charter school just a block away, it's in a vibrant area close to buses, schools, and the train, attracting long-term tenants. Current rents are $3,952 for the deli/grocery, $2,060 for the two-bedroom, and $2,700 for the three-bedroom, with room for increases. The basement and backyard offer additional income potential. At an asking price of $975,000, this property delivers a 7.5% cap rate with upside. Priced to sell-don't miss out!
Property Features
Property Type: Commercial -
Basement: Full
Basement: Yes
Cooling: Multi Units, Separate Meters
Heating: Natural Gas
Lot Size: 0.07 Acres
Taxes: $28,860
Year Built: 1926
Feature Descriptions
Building Area Total: 4200
Days on Site: 202
Exterior: Cedar
On Market Date: 2025-09-11
Parcel Number: 2013-34-377-00-0387-0
Rental Term: Monthly
Sewer: Public Sewer
Units: 3
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Trash Collection Public, Water Connected
Water: Public
Listed By / Shown By
Listing By
Agency Name: Keller Williams Realty Greater
Agency Contact: 516-873-7100
Shown By
Agency Title: Coldwell Banker Choice Properties
Agency Phone: 833-88-CHOICE (2-4642)
Broker Headquarters, 621 Columbia St. Suite 800, Cohoes, NY 12047
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171 S Franklin Street | MLS# 911557
This commercial property located at 171 S Franklin Street, Hempstead, NY 11550 is currently listed for sale with an asking price of $925,000. Search Hempstead real estate on www.coldwellbankerchoice.com today.