113-119 Jericho Tpke - Storefront Retail/Residential FOR SALE


Floral Park, NY 11001
$2,800,000 USD
646-267-3979
113-119 Jericho Tpke, Floral Park, NY for Sale
$2,800,000 USD
Storefront Retail/Residential - FOR SALE
1/6
null | 5.5% Cap Rate

113-119 Jericho Tpke
Floral Park, NY 11001


HIGHLIGHTS

  • The adjacent buildable lot offers a rare opportunity to develop multi-family residences, generating substantial additional income streams.

OVERVIEW

This mixed-use property features two commercial units and two residential units, with the adjacent buildable lot offering a rare opportunity to develop multi-family residences, generating substantial additional income streams. Modern condos in high-demand areas appeal to both long-term tenants and short-term rental markets, providing strong and diversified returns for savvy investors. The landlord provides all rent roll information and is subject to verification. Buyer to perform their own due diligence to confirm accuracy. Commercial Units: 119 Jericho Turnpike: 1,200 sq. ft. + full basement, currently rented for a Hair & Beauty Salon – $4,000/month 113 Jericho Turnpike: 1,200 sq. ft. + full basement, presently rented for a Massage Therapy Spa – $4,000/month Residential Units: 115 Jericho Turnpike: Two-bedroom apartments, $1,850/month per unit 117 Jericho Turnpike: Two-bedroom apartments, $1,950/month per unit All units are fully occupied, providing immediate cash flow. Tenants pay 70% of real estate taxes, and all units are currently below-market rent, offering strong value-add potential. The property includes an adjacent parking lot with space for over 15 vehicles and is located in a solid neighborhood. Gross Annual Income Commercial 119 Jericho Turnpike: $4,000/month = $48,000/year 113 Jericho Turnpike: $4,000/month = $48,000/year Commercial Total: $96,000/year Residential 115 Jericho Turnpike: $1,950/month = $23,400/year 117 Jericho Turnpike: $1,850/month = $22,200/year Residential Total: $45,600/year Total Gross Annual Income: $141,600 Annual Expenses Property Taxes (Owner's Share): $9,600 Insurance: $3,000 Vestibule Electric: $1,200 Total Annual Expenses: $13,800 Net Operating Income (NOI): $127,800 Cap Rate: 5.5%

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$560 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

-

APN/PARCEL ID

2259-08-053-00-0156-0

ASK ABOUT THIS PROPERTY

Sergey BabayevKingsland PropertiesMore Info
646-267-3979

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Sergey BabayevKingsland PropertiesMore Info
646-267-3979

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.