Mixed-Use Building with Retail and
24605 JERICHO TPKE Jamaica, NY 11426
24605 JERICHO TPKE, Jamaica, NY, 11426
$1,290,000
For Sale
$1,290,000
Well-kept mixed-use building with ground-floor retail and two residential units above, plus a fenced backyard.
Property Size2,680 SF
Price / SF$481.34
Days on Market347
Property Features for 24605 JERICHO TPKE
General Information
- Standard status
- Active
- Size
- 2,680 SF
- Property subtype
- Mixed Use
Listing agency
RE/MAX Luxe
(718) 969-0444
Listed by
Gaurav Kerney
(718) 969-0444
Source
Xome
Added: Aug 9, 2025 Updated: Jul 21 at 1:54PM Checked: Jul 21 at 1:54PM
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 RE/MAX Luxe
Investment Insights
Based on property information with market context.
This well-kept mixed-use property offers a ground-floor commercial tenant and two residential units above. The retail tenant is secured with 2 years remaining on the lease and includes 5% annual rent increases. Both residential units are currently month-to-month; Unit 1 is a 2-bedroom, 1-bath layout, and Unit 2 is a 1-bedroom, 1-bath unit that has been recently renovated with a new kitchen and bathroom.
Additional income is generated from signage rental. A vacant basement is included and presents a value-add opportunity. The property also features a concrete, fenced-in backyard that provides private outdoor space or potential tenant use.
The building is reported in Condition B with no major deferred maintenance and is located along an established commercial corridor close to transportation, shopping, schools, and community amenities. Please do not disturb tenants; showings are by appointment only.
Additional income is generated from signage rental. A vacant basement is included and presents a value-add opportunity. The property also features a concrete, fenced-in backyard that provides private outdoor space or potential tenant use.
The building is reported in Condition B with no major deferred maintenance and is located along an established commercial corridor close to transportation, shopping, schools, and community amenities. Please do not disturb tenants; showings are by appointment only.
Key Highlights
- Mixed‑use building on Jericho Turnpike with ground‑floor retail and two residential units above
- Retail tenant has 2 years remaining on the lease with 5% annual rent increases
- Two residential units: Unit 1 is 2 bed/1 bath; Unit 2 is 1 bed/1 bath and recently renovated with new kitchen and bathroom
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $123.8k | $46.20 |
| − Vacancy | −$4.7k | −$1.76 |
| EGI | $119.1k | $44.44 |
| − OpEx | −$53.6k | −$20.00 |
| NOI | $65.5k | $24.44 |
2,680 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$935.9K
$818.9K – $1.09M
NOI $65,511 @ 7.0% cap · market cap 5.08%
Second Best
Retail
$683.4K
$598.0K – $797.3K
NOI $47,838 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,301 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Well-kept mixed-use building with ground-floor retail and two residential units above, plus a fenced backyard.
Where is this mixed-use property located?
The property is located at 24605 JERICHO TPKE Jamaica, NY.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Mixed‑use building on Jericho Turnpike with ground‑floor retail and two residential units above; Retail tenant has 2 years remaining on the lease with 5% annual rent increases; Two residential units: Unit 1 is 2 bed/1 bath; Unit 2 is 1 bed/1 bath and recently renovated with new kitchen and bathroom
