Four-Story Mixed-Use
For Sale
$45,500,000
25177 Jericho Turnpike, Bellerose, NY 11426
Commercial Sale, Bellerose, NY
Property Size84,300 SF
Lot Size0.58 Acres
Price / SF$539.74
Days on Market62
Property Features for 25177 Jericho Turnpike
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C8-1
Parking features
Open
Elementary school district
Contact Agent
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Active
APN
08668-0108
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
913026
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
Private Underground Parking Garage
2 Large Storage Areas
4 Small Storage Areas
Elevator
2 Strategically Placed Curb Cuts
Signalized Intersection
3 Phase Power
All New LED Lighting
CAC
Building Details
Year built
2015
Number of units
20
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Added: Jun 26
Changed: Aug 19
Last Checked: Aug 26 at 5:06PM
MLS# 1019082
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2015, this four-story, 84,300+ square foot commercial property combines retail, office, storage, and parking uses in a 20-unit configuration. Improvements include 15-foot ceilings, an elevator, sprinklers, central air conditioning, three-phase power, new LED lighting, two large storage areas, four smaller storage areas, and a private underground parking garage with 120 spaces. The property also includes a rooftop antenna lease area and a playground associated with an existing occupant.
Positioned at the signalized corner of Jericho Turnpike and Little Neck Parkway in Bellerose, the building has 190 feet of frontage on Jericho Turnpike and 134 feet on Little Neck Parkway. The site is located only blocks from the Cross Island Parkway and records a daily traffic count of 32,000+ vehicles per day. Nearby businesses include Starbucks, Chase Bank, CVS, Dunkin’, UPS, Staples, and CityMD.
Positioned at the signalized corner of Jericho Turnpike and Little Neck Parkway in Bellerose, the building has 190 feet of frontage on Jericho Turnpike and 134 feet on Little Neck Parkway. The site is located only blocks from the Cross Island Parkway and records a daily traffic count of 32,000+ vehicles per day. Nearby businesses include Starbucks, Chase Bank, CVS, Dunkin’, UPS, Staples, and CityMD.
Key Highlights
- 84,300+ square foot, 20‑unit commercial building completed in 2015
- 190' of frontage on Jericho Tpke. and 134' of frontage on Little Neck Pkwy.
- Daily traffic count of 32,000+ vehicles per day
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
$2,775,476
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
6.10%
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%
$55,509,520
$55.5M
Cap Rate 7%
$39,649,657
$39.6M
Cap Rate 9%
$30,838,622
$30.8M
Market Conditions
NOI Build-Up for 84,300 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
$4.25M $50.40/SF
− Vacancy
−$548.1K −$6.50/SF
EGI
$3.70M $43.90/SF
− OpEx
−$925.2K −$10.97/SF
NOI
$2.78M $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$55,509,520
Cap Rate 7%
$39,649,657
Cap Rate 9%
$30,838,622
Alternative Uses
Best Use
Office B
$39.65M
$34.69M – $46.26M
NOI $2,775,476 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$21.50M
$18.81M – $25.08M
NOI $1,504,755 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$62.15M
$54.38M – $72.50M
NOI $4,350,285 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
32,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 11426, NY
19,343
Population
6,813
Households
2.8
Avg Household Size
43
Median Age
44%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
13,816
Density / Sq Mi
$107,591
Median Household Income
$57,622
Median Earnings
$2,158
Median Rent
$676,100
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 - Corner property offers retail, office, storage, and parking with C8-1 zoning in a multi-tenant configuration.
Where is this mixed-use property located?
The property is located at 25177 Jericho Turnpike Bellerose, NY.
What is the asking price?
The asking price for this property is $45,500,000.
What are key features of this property?
This property features: 84,300+ square foot, 20‑unit commercial building completed in 2015; 190' of frontage on Jericho Tpke. and 134' of frontage on Little Neck Pkwy.; Daily traffic count of 32,000+ vehicles per day
