Building Details

Building Size 1,500 SF

Listing Agency: Realty Masters North Shore l***@lindalugo.com Show Phone

Listed By: Linda Lugo CRS CRB CIPS E-PRO SRES · License #10311205033 Show Phone

Source: Elliman

Added: Mar 31 Changed: Aug 15 Last Checked: Aug 19 at 12:32PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Masters North Shore

Investment Insights

Based on property information with market context.

This well-maintained building is located in the heart of Centerport. Currently used as a hair salon, it presents an opportunity for either a user or an investor. The property benefits from low property taxes. A new roof is being installed, along with two new splitter units for heating and air conditioning. The building includes a partial basement with an outside entrance. The bike score is 11, indicating it is somewhat bikeable. The walk score is 24, indicating car-dependent surroundings. The transit score is 0, indicating no nearby transit.

Key Highlights

• Great opportunity for user or investor.
• SUPER LOW PROPERTY TAXES.
• New roof being installed.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$29,326

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.52%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$586,520 $586.5K

Cap Rate 7%

$418,943 $418.9K

Cap Rate 9%

$325,844 $325.8K

Market Conditions

NOI Build-Up for 1,500 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$45.0K $30.00/SF

− Vacancy

−$3.1K −$2.07/SF

EGI

$41.9K $27.93/SF

− OpEx

−$12.6K −$8.38/SF

NOI

$29.3K $19.55/SF

Area

Suffolk County, NY

Vacancy

6.90%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$586,520

Cap Rate 7%

$418,943

Cap Rate 9%

$325,844

Alternative Uses

Best Use

Retail

$418.9K

$366.6K – $488.8K (±1% cap)

NOI $29,326 @ 7.0% cap · market cap 4.52%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$457.0K

$399.9K – $533.1K (±1% cap)

NOI $31,988 @ 7.0% cap · market cap 4.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Halo Hair Hair Salon

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Hair Salon Parking Lot & Garage Building Supply Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

257

Businesses Nearby

2k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Jimmy's Pizza Dining

1,556 visits/mo 0.1 miles

Demographics for 11721, NY

6,318

Population

2,497

Households

2.5

Avg Household Size

47

Median Age

72%

College-Educated

99%

High-School Grad

2.5 sq mi

ZIP Area

2,527

Density / Sq Mi

$206,250

Median Household Income

$82,007

Median Earnings

$3,220

Median Rent

$704,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Well-maintained building in Centerport, ideal for user or investor.

Where is this retail space located?

The property is located at 107 Mill Dam Rd Center Port, NY.

What is the asking price?

The asking price for this property is $649,000.

What are key features of this property?

This property features: Great opportunity for user or investor.; SUPER LOW PROPERTY TAXES.; New roof being installed.