Three-Story Office
575 Jericho Tpke Jericho, NY 11753
For Sale
Contact for pricing
Three-story office building on a 2.13-acre parcel with 132 dedicated parking spaces.
Property Size32,400 SF
Lot Size2.13 Acres
Price / SF$277.78
Days on Market95
Property Features for 575 Jericho Tpke
General Information
- Standard status
- Active
- Size
- 32,400 SF
- Lot size
- 2.13 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1969
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5196
Listed By:
Michael Tuccillo · License #NY 10401244358
Source:
Crexi
Added: Apr 22
Changed: Jul 23
Last Checked: Jul 25 at 11:56AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
575 Jericho Turnpike is a professional office building consisting of approximately 32,400 square feet across three stories, situated on a 2.13-acre parcel. The property is currently 93% occupied, with one remaining vacancy.
The building includes 132 dedicated surface parking spaces, supporting a parking ratio of 4.07 spaces per 1,000 square feet. The listing also notes direct access to the Long Island Expressway and Northern State Parkway, along with major east-west arterials.
From a tenant and layout standpoint, the asset is positioned as a suburban office property with multiple floors and dedicated on-site parking designed to support day-to-day employee and client access.
The building includes 132 dedicated surface parking spaces, supporting a parking ratio of 4.07 spaces per 1,000 square feet. The listing also notes direct access to the Long Island Expressway and Northern State Parkway, along with major east-west arterials.
From a tenant and layout standpoint, the asset is positioned as a suburban office property with multiple floors and dedicated on-site parking designed to support day-to-day employee and client access.
Key Highlights
- Three‑story professional office building built in 1969 with approx. 32,400 SF
- Located on a 2.13‑acre parcel in Jericho, NY
- Currently 93% occupied with one remaining vacancy (stable in‑place income plus lease‑up upside)
Financial Insights For Office B
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 | $905.9k | $27.96 |
| − Vacancy | −$163.1k | −$5.03 |
| EGI | $742.8k | $22.93 |
| − OpEx | −$185.7k | −$5.73 |
| NOI | $557.1k | $17.20 |
32,400 SF · lease $27.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.96M
$6.96M – $9.29M
NOI $557,131 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.42M
$18.74M – $24.99M
NOI $1,499,553 @ 7.0% cap · market cap 16.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
megan woolley
Law Firm
Ehrlich Jeffrey
Law Firm
Markowitz Stewart
Law Firm
Forward Thinking Systems
(Bike/Boat/Book/etc) Store
Premier Plus Education ...
Tutoring Service
FAQs
What type of property is this?
Office building - Three-story office building on a 2.13-acre parcel with 132 dedicated parking spaces.
Where is this office building located?
The property is located at 575 Jericho Tpke Jericho, NY.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: Three‑story professional office building built in 1969 with approx. 32,400 SF; Located on a 2.13‑acre parcel in Jericho, NY; Currently 93% occupied with one remaining vacancy (stable in‑place income plus lease‑up upside)
