248-51 Jericho Tpke

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.