Occupied Neighborhood Retail
For Sale
$1,500,000
Pending
249-50 Jericho Tpke, Bellerose, NY 11001
Fully leased retail center with multiple storefronts, customer parking, and a location along Jericho Turnpike.
Property Size4,300 SF
Days on Market90
Property Features for 249-50 Jericho Tpke
General Information
Standard status
Pending
Size
4,300 SF
Property subtype
Commercial
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$21,000
Amenities
front parking lot
Building Details
Building Size
4,300 SF
Year Built
1964
Tenancy
Multi
Listing Agency:
NY SPACE FINDERS INC
(516) 707-1311
Listed By:
Maximilian Pugliese
(516) 707-1311
Source:
Elliman
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 31 at 4:50PM
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 NY SPACE FINDERS INC
Investment Insights
Based on property information with market context.
This neighborhood strip mall contains multiple retail storefronts and was built in 1964. The property is reported as 100% occupied, providing an established tenant profile within a functioning retail setting. Front parking serves customers and supports convenient access to the storefronts.
The property is located at 249-50 Jericho Turnpike in Bellerose, NY, along a commercial corridor with neighboring businesses and regular vehicular activity. Its position on Jericho Turnpike provides direct corridor exposure, while the retail configuration supports a range of storefront-oriented commercial uses. The Nassau County location places the asset within an established suburban business environment.
The property is located at 249-50 Jericho Turnpike in Bellerose, NY, along a commercial corridor with neighboring businesses and regular vehicular activity. Its position on Jericho Turnpike provides direct corridor exposure, while the retail configuration supports a range of storefront-oriented commercial uses. The Nassau County location places the asset within an established suburban business environment.
Key Highlights
- 100% occupancy across the retail strip
- Multiple retail storefronts within one neighborhood center
- Front customer parking included on the property
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
$76,755
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
5.12%
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%
$1,535,100
$1.5M
Cap Rate 7%
$1,096,500
$1.1M
Cap Rate 9%
$852,833
$852.8K
Market Conditions
NOI Build-Up for 4,300 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
$129.0K $30.00/SF
− Vacancy
−$19.4K −$4.50/SF
EGI
$109.7K $25.50/SF
− OpEx
−$32.9K −$7.65/SF
NOI
$76.8K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
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%
$1,535,100
Cap Rate 7%
$1,096,500
Cap Rate 9%
$852,833
Alternative Uses
Best Use
Retail
$1.10M
$959.4K – $1.28M
NOI $76,755 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,901 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
73k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Dining 9%
Electronics 3%
Beauty & Spa 1%
Mobil
Shops & Services
15,379 visits/mo
0.2 miles
Chase Bank
Shops & Services
12,814 visits/mo
0.1 miles
7-Eleven
Shops & Services
8,926 visits/mo
0.5 miles
Conoco
Shops & Services
8,472 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,919 visits/mo
0.4 miles
Demographics for 11001, NY
27,662
Population
8,923
Households
3.1
Avg Household Size
43
Median Age
53%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
12,574
Density / Sq Mi
$144,755
Median Household Income
$66,053
Median Earnings
$2,196
Median Rent
$714,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail center with multiple storefronts, customer parking, and a location along Jericho Turnpike.
Where is this strip mall located?
The property is located at 249-50 Jericho Tpke Bellerose, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 100% occupancy across the retail strip; Multiple retail storefronts within one neighborhood center; Front customer parking included on the property
