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    565 Jericho Tpke Syosset, NY 11791
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    Property profile & analytics

    565 Jericho Tpke, Syosset, NY 11791

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    • Lifestyle centers
    • 21,795 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Healthquest Vitamins / (Bike/Boat/Book/etc) Store / Pharmacy
    • Petco Vaccination Clinic / Veterinary Clinic
    • Petco Grooming / Pet Grooming Service
    • Gunsberger Maurice MD / Pediatrician / Medical Clinic
    • Bagga Plaza / Business Service Center / Corporate Office

    Property Details for 565 Jericho Tpke

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional commercial property at 565 Jericho Turnpike in Syosset, New York offers a diverse range of office spaces ideal for various business needs. Located in Nassau County, this 21,795 square foot building presents a unique opportunity for businesses seeking flexible and adaptable work environments. The property is currently fully vacant, allowing for complete customization to suit a tenant's specific requirements. Multiple tenancy options are available, with spaces ranging from a minimum of 1,768 square feet to a maximum contiguous space of 13,700 square feet. The building's classification encompasses retail, office, executive office, medical office, commercial, fitness, and shopping center uses, providing significant versatility for potential tenants. Its prime location on Jericho Turnpike ensures high visibility and easy accessibility, making it an attractive option for businesses seeking a prominent presence in a thriving commercial area. The property's zoning and permitted uses offer a wide array of possibilities, catering to a broad spectrum of business types. With its ample square footage and flexible lease terms, this property presents a compelling opportunity for businesses of all sizes seeking a strategic location in Syosset, NY. The zip code is 11791.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Syosset
    County
    Nassau
    State
    New York
    Longitude
    -73.4966
    Latitude
    40.8118

    Comparable in this City

    • Value Estimation by Request
      1,983 SF

      601-641 Jericho Tpke

      Lifestyle centers
      601-641 Jericho Tpke, Syosset, NY 11791
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    • Value Estimation by Request
      200,000 SF

      317-392 Oyster Bay Rd

      Lifestyle centers
      317-392 Oyster Bay Rd, Syosset, NY 11791
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    • Value Estimation by Request
      4,272 SF

      271 Jericho Tpke

      Lifestyle centers
      271 Jericho Tpke, Syosset, NY 11791
      View Details
    • Value Estimation
      $16,360,000
      41,234 SF

      267 Jericho Tpke

      SHOPPING CENTER, STRIP CENTER
      267 Jericho Tpke, Syosset, NY 11791-4502
      View Details
    • Value Estimation
      $13,955,000
      10,324 SF

      103 Jackson Ave, Unit 125

      SHOPPING CENTER, STRIP CENTER
      103 Jackson Ave, Syosset, NY 11791-3624
      View Details
    • Value Estimation
      $8,265,000
      9,453 SF

      601 Jericho Tpke, Unit 641

      SHOPPING CENTER, STRIP CENTER
      601 Jericho Tpke, Syosset, NY 11791-4519
      View Details

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    • New
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      Retail Storefront Space

      Retail space available for lease at 347 Jericho Turnpike in Syosset, suited for neighborhood-serving concepts.
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    Syosset, NY 11791
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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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