2374 Jericho Tpke - Freestanding FOR SALE


New Hyde Park, NY 11040- Garden City Park
$1,880,000 USD
516-587-9113
2374 Jericho Tpke, New Hyde Park, NY for Sale
$1,880,000 USD
Freestanding - FOR SALE
1/9
null | 5.1% Cap Rate

2374 Jericho Tpke
New Hyde Park, NY 11040
Garden City Park


HIGHLIGHTS

  • Strategically situated on Jericho Turnpike—one of Long Island’s busiest commercial corridors—across from a major shopping plaza, ensuring strong foot
  • Single-story brick structure built in 1960, comprising two separate retail storefronts
  • Fully leased to long-standing, reliable tenants, with leases featuring annual 3% rent escalations, ensuring predictable rent growth
  • Current gross rental income: $9,938/month (~$119,256/year)
  • Low operating expenses: tenants pay all utilities, reducing landlord responsibilities
  • Yearly property taxes: $19,769 (~$1,647/month)

OVERVIEW

Prime investment opportunity on highly visible Jericho Turnpike in the heart of New Hyde Park. This freestanding commercial building features two well-maintained retail storefronts, both occupied by long-standing, reliable tenants with stable tenancy histories. The property currently produces $9,938/month in rental income, with leases that include scheduled 3% annual rent increases—ensuring steady growth. Tenants are responsible for all utility expenses, creating a low-maintenance, high-efficiency investment. The site benefits from excellent foot and vehicle traffic and is located directly across from a major shopping plaza, adding to its strong commercial presence. With low property taxes ($19,769/year) and a current 5.1% cap rate, this asset is ideal for 1031 exchange buyers or investors seeking consistent cash flow in a high-demand Nassau County location. Convenient access to LIRR, major highways, bus lines, and surrounding residential neighborhoods adds further value to this exceptional offering.

FOR SALE DETAILS

PRICE

$1,880,000 USD

PRICE/SF

$696 USD /SF

CAP RATE

5.1%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

-

APN/PARCEL ID

2289-33-160-00-0052-0

ASK ABOUT THIS PROPERTY

Fei GuoSkylux Realty, IncMore Info
516-587-9113

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Fei GuoSkylux Realty, IncMore Info
516-587-9113

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