Floral Park Retail for Sale - Western Nassau
This mixed-use property features two commercial units and two residential units, with the adjacent buildable lot offering a rare opportunity to develop multi-family residences, generating substantial additional income streams. Modern condos in high-demand areas appeal to both long-term tenants and short-term rental markets, providing strong and diversified returns for savvy investors. The landlord provides all rent roll information and is subject to verification. Buyer to perform their own due diligence to confirm accuracy.
Commercial Units:
119 Jericho Turnpike: 1,200 sq. ft. + full basement, currently rented for a Hair & Beauty Salon – $4,000/month
113 Jericho Turnpike: 1,200 sq. ft. + full basement, presently rented for a Massage Therapy Spa – $4,000/month
Residential Units:
115 Jericho Turnpike: Two-bedroom apartments, $1,850/month per unit
117 Jericho Turnpike: Two-bedroom apartments, $1,950/month per unit
All units are fully occupied, providing immediate cash flow. Tenants pay 70% of real estate taxes, and all units are currently below-market rent, offering strong value-add potential.
The property includes an adjacent parking lot with space for over 15 vehicles and is located in a solid neighborhood.
Gross Annual Income
Commercial
119 Jericho Turnpike: $4,000/month = $48,000/year
113 Jericho Turnpike: $4,000/month = $48,000/year
Commercial Total: $96,000/year
Residential
115 Jericho Turnpike: $1,950/month = $23,400/year
117 Jericho Turnpike: $1,850/month = $22,200/year
Residential Total: $45,600/year
Total Gross Annual Income: $141,600
Annual Expenses
Property Taxes (Owner's Share): $9,600
Insurance: $3,000
Vestibule Electric: $1,200
Total Annual Expenses: $13,800
Net Operating Income (NOI): $127,800
Cap Rate: 5.5%
