1174 Jericho Tpke Commack, NY 11725-3003
- Banks
- 0.72 lot acres
Current Use by Public Records
- Savings Bank Brooklyn Federal / Bank / Atm
Property Details for 1174 Jericho Tpke
- Lot size
- 0.72 lot acres
- Property type
- Banks
- APN
- 0800-093.00-03.00-002.000
- APU
- 800093000300002000
Description
This exceptional investment opportunity presents a 2,200 square foot bank building situated on a 0.75-acre lot at 1174 Jericho Turnpike in Commack, NY 11725. The property boasts a strong net operating income (NOI) of $216,435, yielding a 6.10% capitalization rate. The building features 24 parking spaces and benefits from over 150 feet of frontage on a highly visible, lighted T-intersection with an average daily traffic count exceeding 22,451 vehicles. The property is zoned for Neighborhood Business use and enjoys a prime location in a high-income, high-traffic area. The current tenant, a corporate-backed bank with 150 branches in NY/NJ, holds a 20-year lease with five years remaining and four 5-year options. This branch holds $44 million in deposits and is the second largest of seven Investors Bank branches in Suffolk County. Lease renewals include a 13% increase. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term potential. The asking price is $3,550,000, translating to $1,613.64 per square foot.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,715,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,670,000
- 6.5%
- $3,120,000
- 7%
- $2,670,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,165,000
- Geo Method
- $2,960,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,695,000
- Retail
- $2,315,000
- Mixed-Use
- $2,320,000
- Hospitality
- $3,015,000
- Educational
- $2,995,000
- Residential Income
- $2,300,000
- Energy
- $2,565,000
- Income-Based Land
- $3,035,000
- Food Service
- $2,305,000
Location Insight
- Map
- Local Demand
- City
- Commack
- County
- Suffolk
- State
- New York
- Longitude
- -73.2665
- Latitude
- 40.8459
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
