Jericho Turnpike Investment
For Sale
$2,588,888
2172 Jericho Tpke, Garden City Park, NY 11040
Mixed-use property with retail, office, and residential income potential.
Property Size8,600 SF
Lot Size0.12 Acres
Days on Market151
Property Features for 2172 Jericho Tpke
General Information
Standard status
Active
Size
8,600 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$43,509
Building Details
Building Size
8,600 SF
Listing Agency:
Posh Homes Realty Inc
(718) 749-6983
Listed By:
Inderjeet Khaneja · License #10401200808
(718) 749-6983
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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 Posh Homes Realty Inc
Investment Insights
Based on property information with market context.
This investment property is located on Jericho Turnpike in New Hyde Park, Nassau County, NY, situated within a high-traffic retail zone. The property features two residential units, three retail spaces, and office space. It is located on a 5450 square foot lot and includes a separate, detached garage/warehouse building. The property offers opportunities for residential, commercial retail, parking, and storage income. It may be suitable for a 1031(c) exchange.
Key Highlights
- High‑traffic location on Jericho Turnpike in New Hyde Park.
- Mixed‑use property: 2 residential units, 3 retail spaces, and office space.
- Includes a separate garage/warehouse building.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$170,306
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,406,120
$3.4M
Cap Rate 7%
$2,432,943
$2.4M
Cap Rate 9%
$1,892,289
$1.9M
Market Conditions
NOI Build-Up for 8,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$258.0K $30.00/SF
− Vacancy
−$14.7K −$1.71/SF
EGI
$243.3K $28.29/SF
− OpEx
−$73.0K −$8.49/SF
NOI
$170.3K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,406,120
Cap Rate 7%
$2,432,943
Cap Rate 9%
$1,892,289
Alternative Uses
Best Use
Retail
$2.43M
$2.13M – $2.84M
NOI $170,306 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$2.19M
$1.92M – $2.56M
NOI $153,402 @ 7.0% cap · market cap 5.93%
Theoretical Best
Specialty Retail
$5.69M
$4.98M – $6.63M
NOI $398,030 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 11040, NY
43,075
Population
14,608
Households
2.9
Avg Household Size
45
Median Age
56%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
8,974
Density / Sq Mi
$153,511
Median Household Income
$70,649
Median Earnings
$2,388
Median Rent
$795,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail, office, and residential income potential.
Where is this mixed-use property located?
The property is located at 2172 Jericho Tpke Garden City Park, NY.
What is the asking price?
The asking price for this property is $2,588,888.
What are key features of this property?
This property features: High‑traffic location on Jericho Turnpike in New Hyde Park.; Mixed‑use property: **2 residential units, 3 retail spaces, and office space.**; Includes a separate garage/warehouse building.
