Building Details

Building Size 8,600 SF

Buildings 2

Tenancy Multi

Listing Agency: Posh Homes Realty Inc Show Phone

Listed By: Alex Switalski

Source: Hedgestonehomes

Added: Oct 21 Changed: Oct 28 Last Checked: Oct 31 at 3:03AM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This mixed-use property contains two residential units alongside three retail spaces and office space. The main building is accompanied by a detached garage and warehouse building, creating a combination of residential, commercial, and storage space. The site measures 5,450 square feet, and the property contains 8,600 square feet of building area.

The property is on Jericho Turnpike in Garden City Park, Nassau County. The source describes the area as a high-traffic retail zone.

Key Highlights

• Two residential units and three retail spaces
• Office space included
• Separate detached garage and warehouse building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$170,306

Cap Rate

6.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,406,120 $3.4M

Cap Rate 7%

$2,432,943 $2.4M

Cap Rate 9%

$1,892,289 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,600 SF

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 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 (±1% cap)

NOI $170,306 @ 7.0% cap · market cap 6.58%

Second Best

Mixed Use

$1.70M

$1.48M – $1.98M (±1% cap)

NOI $118,680 @ 7.0% cap · market cap 4.58%

Theoretical Best

Specialty Retail

$5.69M

$4.98M – $6.63M (±1% cap)

NOI $398,030 @ 7.0% cap · market cap 15.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Larry's Design Center ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Hair Salon Law Firm Dental Office Skin Care Clinic Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,024

Businesses Nearby

108k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 49% Shops & Services 35% Office Supplies 13% Home Improvements & Furnishings 2%

McDonald's Dining

35,092 visits/mo 0.3 miles

Applebee's Dining

17,770 visits/mo 0.4 miles

Staples Office Supplies

14,566 visits/mo 0.4 miles

7-Eleven Shops & Services

11,436 visits/mo 0.4 miles

BP Shops & Services

11,322 visits/mo 0.3 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - The building combines residential units, retail suites, office space, and a separate garage and warehouse structure.

Where is this mixed-use property located?

The property is located at 2172 Jericho Turnpike 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: Two residential units and three retail spaces; Office space included; Separate detached garage and warehouse building