Commercial Property on Main
For Sale
$650,000
119 E main St, Smithtown, NY 11787
Commercial property and business for sale on busy Main Street.
Property Size2,254 SF
Lot Size0.05 Acres
Days on Market149
Property Features for 119 E main St
General Information
Standard status
Active
Size
2,254 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,284
Building Details
Building Size
2,254 SF
Year Built
1975
Stories
1
Listing Agency:
(646) 901-3040
Listed By:
Louis M. Fisher
(646) 901-3040
Source:
Elliman
Added: Mar 25
Changed: Aug 10
Last Checked: Aug 19 at 12:04PM
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 M. Fisher
Investment Insights
Based on property information with market context.
Located on a busy Main Street in Smithtown, this commercial property is available for sale. The property currently houses a successful and profitable business that has been operating for 20 years. The business generates over a million dollars in annual sales, with net profits of approximately $300,000 per year. This presents an opportunity for an investor to acquire an established business with an extensive name and client base. The business specializes in firearms, fish, and tackle, offering potential for further development. Requirements for purchasing the property include obtaining a Federal Firearms License, the ability to hold a firearm license, and a consumer affairs second-hand merchandise license. Inventory includes firearms (new and pre-owned), ammunition, accessories, fishing tackle, and bait, sold through both walk-in and internet sales. The real estate is valued at $650,000. The business name, goodwill, license, and customer list are valued at $100,000, and the inventory is valued at $50,000. The buyer has the option to purchase only the real estate for $650,000, in which case the owner will handle the business and inventory separately.
Key Highlights
- Profitable business with $1,000,000+ in annual sales and approximately $300,000 net profit per year.
- Established 20‑year‑old business with an extensive name and client base.
- Prime location on a busy Main Street in Smithtown by a traffic light.
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
$49,568
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
7.63%
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%
$991,360
$991.4K
Cap Rate 7%
$708,114
$708.1K
Cap Rate 9%
$550,756
$550.8K
Market Conditions
NOI Build-Up for 2,254 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
$70.8K $31.42/SF
− OpEx
−$21.2K −$9.42/SF
NOI
$49.6K $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%
$991,360
Cap Rate 7%
$708,114
Cap Rate 9%
$550,756
Alternative Uses
Best Use
Retail
$708.1K
$619.6K – $826.1K
NOI $49,568 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,697 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
1k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Gulf Oil
Shops & Services
1,363 visits/mo
0.4 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 - Commercial property and business for sale on busy Main Street.
Where is this storefront property located?
The property is located at 119 E main St Smithtown, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Profitable business with $1,000,000+ in annual sales and approximately $300,000 net profit per year.; Established 20‑year‑old business with an extensive name and client base.; Prime location on a busy Main Street in Smithtown by a traffic light.
