Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    585 N Broadway Jericho, NY

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail spaces available within a historic shopping and dining complex.

    Type:LAND
    Property size:
    27,926 SF
    Lot size:
    2.46 Acres
    Added:
    Aug 11, 2025
    Days on Market:
    236
    Last Refresh:
    Apr 2 at 12:09 am

    Property Features for 585 N Broadway

    General Information

    Standard status
    Active
    Size
    27,926 SF
    Lot size
    2.46 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 585 N Broadway Contact us

    We can help!

    Listing Contact
    Robert Wachtler

    Listing agent Robert Wachtler

    Listing office Kimco Realty - Corporate

    Listing date Aug 11, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Kimco Realty - Corporate

    Overview

    Unique Retail Opportunity in Jericho

    The Milleridge complex offers retail spaces for rent. This complex includes the Inn at Milleridge, the Cottage, and the Shops. The Milleridge Inn is a historic landmark restaurant that has been serving meals for over 80 years. The Cottage is an events venue featuring a ballroom, atrium, and grand staircase. The Shops provide a pedestrian grouping of specialty shops with unique offerings. The property has a total size of 27926 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Law Firm Auto Repair Shop Auto Parts Store Department Store Kitchen & Bath Showroom Bar & Pub Garden Center Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Jericho Atrium — 500 N Broadway, Jericho, NY 11753
    • Jericho Commons — 429 N Broadway, Jericho, NY 11753

    Location Insight

    • Map
    • Local Demand
    City
    Jericho
    County
    Nassau
    State
    New York
    Longitude
    -73.4787
    Latitude
    40.7528

    Nearby Similar for Lease

    • Contact for pricing

      Jericho Warehouse and Industrial Space

      175,200 SF building with loading options and recent renovations.
      200 Robbins Lane, Jericho, NY, 11753
      View Details
    • Contact for pricing

      Modern Retail Space in Jericho

      Retail space with modern amenities and convenient access.
      2 Jericho Plaza, Jericho, NY
      View Details
    • $39/mo

      Retail Space on Jericho Turnpike

      Retail space available for lease on Jericho Turnpike.
      2 Jericho Tpke, Jericho, NY
      View Details
    • Contact for pricing

      Retail Space Near Broadway Commons

      Retail space available near H-Mart and Broadway Commons.
      305 N Broadway, Jericho, NY
      View Details
    • Contact for pricing

      Retail Space on Jericho Turnpike

      Single tenant retail space available for rent.
      391 Jericho Tpke, Jericho, NY 11753
      View Details
    • Contact for pricing

      Jericho Office Building For Rent

      Office building with banking, concierge, fitness center, and food court.
      1 Jericho Plz, Jericho, NY
      View Details
    • Contact for pricing

      Restaurant/Retail Space with Parking

      Restaurant/retail space featuring parking, dining rooms, and bar lounge.
      399 Jericho Tpke, Jericho, NY
      View Details
    • Contact for pricing

      Office Building with Open Layout

      Headquarters-type building featuring an open layout and abundant parking.
      200 Jericho Quadrangle, Jericho, NY
      View Details
    • Contact for pricing

      Jericho Turnpike Retail Space

      Retail space available for lease on Jericho Turnpike.
      84 Jericho Turnpike, Jericho, NY 11753
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 400 Jericho Turnpike, Jericho, NY.
      400 Jericho Turnpike, Jericho, NY 11753
      View Details
    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Jericho, New York.
      366 North Broadway, Jericho, NY 11753
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 333 Jericho Turnpike.
      333 Jericho Turnpike, Jericho, NY 11753
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail spaces available within a historic shopping and dining complex.
    Where is this shopping center located?
    The property is located at 585 N Broadway Jericho, NY.
    What are key features of this property?
    This property features: Historic landmark with over 80 years of operation.; Complex of restaurants and shops.; Includes the Milleridge Inn restaurant.
    (516) 869-9000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Wachtler
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!