$925,000

171 S Franklin Street, Hempstead, NY 11550

  • 4,200 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1926
  • Property Lot Size Icon2,927sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $220/sqft
  • Property List Date Icon Listed 6 months ago

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!

Listing Status:
Active
Data Last Updated:
April 5, 2026 at 4:21AM
Listing Office:
Keller Williams Realty Greater : 516-873-7100
MLS ID:
911557
  • Basement: Full
  • A/C: Multi UnitsSeparate Meters
  • Heating: Natural Gas
  • Originating MLS: onekey2
  • County: Nassau County
  • Zoning: 2013-34-377-00-0387-0
  • Utilities: Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedTrash Collection PublicWater Connected
  • Water: Public
  • Sewer: Public Sewer
  • Source: onekey2

This listing courtesy of Keller Williams Realty Greater

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

P

Prospect Elementary School

265 Peninsula Blvd, Hempstead, NY, 11550

Grades PK-KG

0.31 miles away

A

Alverta B Gray Schultz Middle School

70 Greenwich St, Hempstead, NY, 11550

Grades 6-8

0.34 miles away

H

Hempstead High School

201 President St, Hempstead, NY, 11550

Grades 9-12

0.51 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.