A 7,560 square foot retail strip center at 6059-6063 Jericho Turnpike in Commack sold for $1.8 million at a 6.5% cap rate. The property was fully occupied at the time of sale. The buyer was Seaford-based Petrakis Properties. This transaction was covered by Long Island Business News.
A fully occupied strip center on Jericho Turnpike at a 6.5% cap — that’s a solid deal for a Suffolk County corridor with good traffic. If you own something similar on Long Island and are thinking about your options, give me a call.