Hempstead, NY 11001

Property

Ownership: For Sale
Type: mixed-use
Lot Size: 0.2 Acres

Financials

Price:$2,750,000
Annual Taxes:$29,479.65
6243 Northern Blvd
Phone:
Listing Courtesy of Kingsland Properties

113 119 Jericho Turnpike, Floral Park, NY Prime mixed use investment opportunity featuring two commercial units approximately 1, 200 SF each with full basements, two 2 bedroom apartments on the ...

Description

113–119 Jericho Turnpike, Floral Park, NY – Prime mixed-use investment opportunity featuring two commercial units (approximately 1,200 SF each with full basements), two 2-bedroom apartments on the second floor, and a 60' x 60' parking lot. The property generates approximately $141,600 in annual gross income, including $96,000 from commercial tenants and $45,600 from residential units. Annual property taxes are approximately $32,000, with approximately 70% of the tax burden allocated to the commercial tenants, resulting in a net operating income (NOI) of approximately $127,800 and a 4.7% cap rate based on the $2,750,000 asking price. Well-located on Jericho Turnpike, this asset offers stable income and long-term investment potential.

Amenities

  • Electricity Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.