Storefront with Private
For Sale
$1,150,000
308 Jericho Turnpike, New Hyde Park, NY 11040
An unfinished basement adds storage space to a layout with a reception area, staff break room, and half bathroom.
Property Size3,790 SF
Price / SF$303.43
Days on Market110
Property Features for 308 Jericho Turnpike
General Information
Standard status
Active
Size
3,790 SF
Property subtype
Commercial
Site & Location
Neighborhood
Hillcrest
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,182
Building Details
Building Size
3,790 SF
Year Built
1920
Listed By:
Gail Leone
(914) 723-8228
Source:
Clairedleone
Added: Jul 7
Changed: Oct 23
Last Checked: Oct 23 at 5:02PM
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 Gail Leone
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront property, built in 1920, is arranged with three private offices and a reception area. A lunchroom provides a separate staff break space, and the interior also includes a half bathroom. The unfinished basement offers additional storage space.
The property is located on Jericho Turnpike in New Hyde Park and has rear access to a spacious lot.
The property is located on Jericho Turnpike in New Hyde Park and has rear access to a spacious lot.
Key Highlights
- Three private offices, a reception area, lunchroom, and half bathroom
- Unfinished basement for storage
- Rear access to a spacious lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,053
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,501,060
$1.5M
Cap Rate 7%
$1,072,186
$1.1M
Cap Rate 9%
$833,922
$833.9K
Market Conditions
NOI Build-Up for 3,790 SF
Gross rent
$113.7K $30.00/SF
− Vacancy
−$6.5K −$1.71/SF
EGI
$107.2K $28.29/SF
− OpEx
−$32.2K −$8.49/SF
NOI
$75.1K $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%
$1,501,060
Cap Rate 7%
$1,072,186
Cap Rate 9%
$833,922
Alternative Uses
Best Use
Retail
$1.07M
$938.2K – $1.25M
NOI $75,053 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.51M
$2.19M – $2.92M
NOI $175,411 @ 7.0% cap · market cap 15.25%
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,456
Businesses Nearby
55k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 34%
Home Improvements & Furnishings 5%
Dunkin' Donuts
Dining
13,453 visits/mo
0.1 miles
7-Eleven
Shops & Services
10,047 visits/mo
0.5 miles
Bank of America
Shops & Services
8,746 visits/mo
0.2 miles
TD Bank
Shops & Services
5,739 visits/mo
0.3 miles
BP
Shops & Services
4,465 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - An unfinished basement adds storage space to a layout with a reception area, staff break room, and half bathroom.
Where is this storefront property located?
The property is located at 308 Jericho Turnpike New Hyde Park, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three private offices, a reception area, lunchroom, and half bathroom; Unfinished basement for storage; Rear access to a spacious lot
