328 BroadwayJericho, NY 11753

Property Details for 328 Broadway

Year built

1961

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.43 AC

Property size (Sq ft)

1,720 SF

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).

• CAP approach

  CAP return

  Valuation

  6%

  $352,616

  6.5%

  $325,491

  7%

  $302,242

• Comparable approach

  Method

  Valuation

  Relative Method

  $348,340

  Geo Method

  $348,340

• Alternative Use

  Use

  Valuation

  Residential

  $325,491

  Hospitality

  $298,148

  Educational

  $248,056

  Medical

  $256,587

  Retail

  $385,865

Location Insight

City

Jericho

County

Nassau

State

New York

Latitude

40.7803

Longitude

-73.5319

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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