Prime Retail Location in
For Sale
$750,000
117 E Main St, Smithtown, NY 11787
Dynamic retail space in the heart of Smithtown for sale.
Property Size2,252 SF
Lot Size0.06 Acres
Price / SF$333.04
Days on Market164
Property Features for 117 E Main St
General Information
Standard status
Active
Size
2,252 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,691
Building Details
Building Size
2,252 SF
Stories
1
Units
1
Listing Agency:
(631) 858-2421
Listed By:
Louis Fisher
(631) 858-2421
Source:
Elliman
Added: Mar 11
Changed: Aug 16
Last Checked: Aug 20 at 11:58AM
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 Louis Fisher
Investment Insights
Based on property information with market context.
This corner retail location in Smithtown offers a space for a retail sales shop. The property has supported a retail business for over 30 years. It features hardwood plank floors, Bilco doors for deliveries to the full lower level, one bathroom, and an office. Interior upgrades include central air conditioning and upgraded 220 electric service. Oil heat and French drains are installed throughout. The property features five plate glass doors at the front. The main retail level offers 1126 square feet, with an additional 1126 square feet on the lower production level, totaling 2252 square feet of commercial space.
Key Highlights
- Prime corner retail location in the heart of Smithtown.
- Successful retail history of 30+ years.
- High visibility with five large plate glass doors for display windows.
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
$49,524
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
6.60%
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%
$990,480
$990.5K
Cap Rate 7%
$707,486
$707.5K
Cap Rate 9%
$550,267
$550.3K
Market Conditions
NOI Build-Up for 2,252 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
$75.7K $33.60/SF
− Vacancy
−$4.9K −$2.18/SF
EGI
$70.7K $31.42/SF
− OpEx
−$21.2K −$9.42/SF
NOI
$49.5K $21.99/SF
Area
Smithtown, NY
Vacancy
6.50%
Lease Rate
$33.60 /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%
$990,480
Cap Rate 7%
$707,486
Cap Rate 9%
$550,267
Alternative Uses
Best Use
Retail
$707.5K
$619.1K – $825.4K
NOI $49,524 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,611 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,933
Businesses Nearby
151k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Shops & Services 30%
Dining 9%
Home Improvements & Furnishings 6%
Uncle Giuseppe's
Groceries
50,551 visits/mo
0.4 miles
The Fresh Market
Groceries
14,378 visits/mo
0.2 miles
Bank of America
Shops & Services
8,420 visits/mo
0.3 miles
Pet Supplies Plus
Shops & Services
7,591 visits/mo
0.2 miles
Chase Bank
Shops & Services
7,392 visits/mo
0.3 miles
Demographics for 11787, NY
35,361
Population
12,147
Households
2.9
Avg Household Size
45
Median Age
51%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
2,373
Density / Sq Mi
$141,505
Median Household Income
$64,248
Median Earnings
$2,349
Median Rent
$642,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Dynamic retail space in the heart of Smithtown for sale.
Where is this storefront property located?
The property is located at 117 E Main St Smithtown, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime corner retail location in the heart of Smithtown.; Successful retail history of 30+ years.; High visibility with five large plate glass doors for display windows.
