171 S Franklin Street, Hempstead, NY 11550

• 4,200 sqft

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:

May 21, 2026 at 7:22AM

Listing Office:

Keller Williams Realty Greater : 516-873-7100

MLS ID:

911557

Interior

• Basement: Full
• A/C: Multi UnitsSeparate Meters
• Heating: Natural Gas

Location

• Originating MLS: onekey2
• County: Nassau County

Lot

• Zoning: 2013-34-377-00-0387-0

Utilities

• Utilities: Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedTrash Collection PublicWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2