113-119 Jericho Turnpike, Hempstead, NY, 11001
$2,750,000
activeLot Size
6,710 sqft
Year Built
2006
Type
Commercial
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
113–119 Jericho Turnpike, Floral Park, NY – Prime mixed-use investment opportunity featuring two commercial units (approximately 1,200 SF each with full basements), two 2-bedroom apartments on the second floor, and a 60' x 60' parking lot. The property generates approximately $141,600 in annual gross income, including $96,000 from commercial tenants and $45,600 from residential units. Annual property taxes are approximately $32,000, with approximately 70% of the tax burden allocated to the commercial tenants, resulting in a net operating income (NOI) of approximately $127,800 and a 4.7% cap rate based on the $2,750,000 asking price. Well-located on Jericho Turnpike, this asset offers stable income and long-term investment potential.
Listed by Sergey Babayev M, Kingsland Properties
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