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    328 N Broadway Jericho, NY 11753
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    Property profile & analytics

    328 N Broadway, Jericho, NY 11753

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    • Investment properties
    • 1,720 SF
    • 0.43 lot acres
    For Sale
    $2,750,000
    View Listing →
    Retail Building in Jericho, NY For Sale
    $2,750,000
    1,720 SF

    Retail Building in Jericho, NY

    Retail building for sale with on-site parking.

    328 N Broadway, Jericho, NY
    View Listing
    Property ID
    US63-2908955
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 328 N Broadway

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.43 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    11-395-00-0022
    APU
    11395000022

    Description

    This exceptional 1,720-square-foot vacant storefront, located at 328 N Broadway in Jericho, NY, presents a compelling value-add investment opportunity. The property, built in 1961, sits on a sizable 18,660-square-foot lot and offers 17 on-site parking spaces, a significant advantage in this high-traffic area. Currently vacant, this Class C building provides a blank canvas for a variety of retail uses. The asking price is $2,750,000, translating to $1,598.84 per square foot. The property is zoned for commercial use and benefits from its convenient location near major roadways including the Northern State Parkway, the Long Island Expressway, and the Jericho Turnpike, ensuring excellent visibility and accessibility. The fee-simple ownership provides complete control and potential for significant return on investment. This prime Jericho location is surrounded by other retail establishments, creating a synergistic environment for future tenants. The property's size and ample parking make it an attractive proposition for a wide range of retail businesses seeking a strong foothold in a thriving community. The property's vacant status allows for immediate customization and tenant selection, maximizing potential rental income. This is a rare opportunity to acquire a well-situated retail property in a desirable Nassau County location. The property's address is 2489-11-395-00-0022-0 (APN).

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $774,000
      Market price range: $520k - $1.84M
      AI Estimate
      $337,000
      Market price range: $34.5k - $933k

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jericho
    County
    Nassau
    State
    New York
    Longitude
    -73.5319
    Latitude
    40.7803
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,727
    $3,023
    $291
    $3,314
    -
    $0.00
    $0.00
    $331,400

    Comparable in this City

    • Value Estimation
      $740,000
      919 SF

      585 Broadway

      STORE/OFFICE (MIXED USE)
      585 Broadway, Jericho, NY 11753-2118
      View Details
    • Value Estimation
      $1,675,000
      6,590 SF

      301 Broadway

      STORE/OFFICE (MIXED USE)
      301 Broadway, Jericho, NY 11753-2030
      View Details
    • Value Estimation
      $15,735,000
      104,000 SF

      410 Jericho Tpke

      STORE/OFFICE (MIXED USE)
      410 Jericho Tpke, Jericho, NY 11753-1318
      View Details
    • Value Estimation
      $2,605,000
      12,035 SF

      50 Service Rd

      STORE/OFFICE (MIXED USE)
      50 Service Rd, Jericho, NY 11753-1048
      View Details
    • Value Estimation
      $1,960,000
      13,000 SF

      301 Broadway

      STORE/OFFICE (MIXED USE)
      301 Broadway, Jericho, NY 11753-2030
      View Details
    • Value Estimation
      $780,000
      3,840 SF

      40 Jericho Tpke

      STORE/OFFICE (MIXED USE)
      40 Jericho Tpke, Jericho, NY 11753-1037
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 333 Jericho Turnpike.
      333 Jericho Tpke, Jericho, NY 11753
      View Details
    • Contact for pricing
      103,544 SF

      Office Building with Open Layout

      Headquarters-type building featuring an open layout and abundant parking.
      200 Jericho Quadrangle, Jericho, NY 11753
      View Details
    • Contact for pricing

      Unique Retail Opportunity in Jericho

      Retail spaces available within a historic shopping and dining complex.
      585 N Broadway, 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
      View Details
    • Contact for pricing

      Retail Space on Jericho Turnpike

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