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    84 Jericho Tpke Jericho, NY 11753
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    84 Jericho Tpke, Jericho, NY 11753

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    • Lifestyle centers
    • 22,053 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 84 Jericho Tpke

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional freestanding retail property, located at 84 Jericho Turnpike in Jericho, New York, presents a significant leasing opportunity. The entire building, totaling 22,053 square feet, is currently available for lease. Situated in Nassau County, this single-suite space offers unparalleled visibility and accessibility for businesses seeking a prominent location. The property's prime location on Jericho Turnpike ensures high traffic volume and excellent exposure to potential customers. The building's substantial size provides ample space for a variety of retail concepts, allowing for flexible layout and design to suit individual business needs. This is an ideal opportunity for a large-scale retailer or a business seeking a significant presence in a thriving commercial area. The property's freestanding nature offers distinct advantages, including ample parking and independent branding opportunities. With its strategic location and substantial square footage, this property represents a rare and compelling investment prospect for discerning businesses seeking to establish or expand their operations in a high-traffic area of Nassau County. The zip code for this property is 11753. This is a multiple tenancy property, currently with one available suite. The property type is retail, specifically a freestanding shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Jericho
    County
    Nassau
    State
    New York
    Longitude
    -73.5639
    Latitude
    40.7797

    Comparable in this City

    • Value Estimation by Request
      130,296 SF

      Broadway & Market St

      Lifestyle centers
      0 Broadway & Market St, Jericho, NY 11753
      View Details
    • Value Estimation by Request
      29,300 SF

      417 Broadway

      SHOPPING CENTER, STRIP CENTER
      417 Broadway, Jericho, NY 11753-2106
      View Details
    • Value Estimation
      $10,765,000
      17,474 SF

      410 Jericho Tpke

      SHOPPING CENTER, STRIP CENTER
      410 Jericho Tpke, Jericho, NY 11753-1318
      View Details
    • Value Estimation
      $8,610,000
      26,040 SF

      2 Jericho Tpke, Unit 24

      SHOPPING CENTER, STRIP CENTER
      2 Jericho Tpke, Jericho, NY 11753-1002
      View Details
    • Value Estimation
      $17,635,000
      47,416 SF

      336 Broadway

      SHOPPING CENTER, STRIP CENTER
      336 Broadway, Jericho, NY 11753-2031
      View Details
    • Value Estimation by Request
      238 SF

      141 Old Cedar Swamp Rd

      NURSERY, GREENHOUSE, FLORIST
      141 Old Cedar Swamp Rd, Jericho, NY 11753-1221
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Unique Retail Opportunity in Jericho

      Retail spaces available within a historic shopping and dining complex.
      585 N Broadway, Jericho, NY 11753
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    • Contact for pricing
      3,800 SF

      Restaurant/Retail Space with Parking

      Restaurant/retail space featuring parking, dining rooms, and bar lounge.
      399 Jericho Tpke, Jericho, NY 11753
      View Details
    • Contact for pricing
      2,225 SF

      Retail Space on Jericho Turnpike

      Retail space available for lease on Jericho Turnpike.
      2 Jericho Tpke, Jericho, NY 11753
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    • Contact for pricing
      2,016 SF

      Modern Retail Space in Jericho

      Retail space with modern amenities and convenient access.
      2 Jericho Plz, Jericho, NY 11753
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      745 SF

      Retail Space Near Broadway Commons

      Retail space available near H-Mart and Broadway Commons.
      305 N Broadway, Jericho, NY 11753
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    • Contact for pricing

      Retail Space on Jericho Turnpike

      Single tenant retail space available for rent.
      391 Jericho Tpke, Jericho, NY 11753
      View Details
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    Jericho, NY 11753
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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