2374 Jericho Turnpike, New Hyde Park, NY 11040

Property Description

Prime investment opportunity on highly visible Jericho Turnpike in the heart of New Hyde Park. This freestanding commercial building features two well-maintained retail storefronts, both occupied by long-standing, reliable tenants with stable tenancy histories. The property currently produces $9,938/month in rental income, with leases that include scheduled 3% annual rent increases?ensuring steady growth. Tenants are responsible for all utility expenses, creating a low-maintenance, high-efficiency investment. The site benefits from excellent foot and vehicle traffic and is located directly across from a major shopping plaza, adding to its strong commercial presence. With low property taxes ($19,769/year) and a current 5.1% cap rate, this asset is ideal for 1031 exchange buyers or investors seeking consistent cash flow in a high-demand Nassau County location. Convenient access to LIRR, major highways, bus lines, and surrounding residential neighborhoods adds further value to this exceptional offering.

Property Features