Mixed use property on Jericho Turnpike offering multiple income streams and strong visibility.


Property

Website: https://www.nestseekers.com/5133030
Address:
New York, NY 11426
Ownership: For Sale
Type: mixed-use
Bedrooms: Studio

Financials

Price:$1,290,000
Annual Taxes:$7,826

Description

Mixed-use property on Jericho Turnpike offering multiple income streams and strong visibility. The ground-floor commercial tenant is secured with 2 years remaining on the lease and 5% annual rent increases, providing stable and growing income. Above the retail space are two residential units: • Unit 1: 2 Bedrooms / 1 Bathroom • Unit 2: 1 Bedroom / 1 Bathroom (recently renovated with new kitchen and bathroom) Both units are currently month-to-month, offering flexibility and value-add potential for future rent adjustments. Additional income is generated from signage rental. Basement is vacant, a good value add. The property is in well-kept Condition B with no major deferred maintenance reported. There is also a concrete, fenced-in backyard providing private outdoor space or potential tenant use. Excellent location along an established commercial corridor close to transportation, shopping, schools, and community amenities. Please do not disturb tenants. Shown by appointment only.

Amenities

  • Natural Gas Connected
  • Sewer Connected
  • Water Connected

Contact

24-20 Jackson Ave Floor 3 Long Island City, NY 11101, USA
Listing Courtesy of RE/MAX Luxe