Mixed-Use Building with
New
For Sale
$925,000
1500 Main St, Port Jefferson, NY 11777
Ground-floor retail is paired with an upstairs residence and separate utilities for the upper level.
Property Size2,500 SF
Days on Market2
Property Features for 1500 Main St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$17,541
Building Details
Building Size
2,500 SF
Units
2
Listing Agency:
Coldwell Banker American Homes
Listed By:
Kalliope Gemelas
(516) 241-4894
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:42PM
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 Coldwell Banker American Homes
Investment Insights
Based on property information with market context.
At 1500 Main St in Port Jefferson, this mixed-use property combines retail space on the ground floor with a two-bedroom, two-bathroom apartment above. A finished full basement provides storage, and the second-floor residential or office space has separate utilities. The property also includes its own parking.
The site is near the Long Island Rail Road, hospitals, and Port Jefferson Village’s upper business district. BikeScore is 52 (Bikeable), while WalkScore is 5 (Car-Dependent).
The site is near the Long Island Rail Road, hospitals, and Port Jefferson Village’s upper business district. BikeScore is 52 (Bikeable), while WalkScore is 5 (Car-Dependent).
Key Highlights
- Ground‑floor retail with a 2‑bedroom, 2‑bathroom apartment above
- Finished full basement with storage
- Separate utilities for the second‑floor residential or office space
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
$48,878
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
5.28%
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%
$977,560
$977.6K
Cap Rate 7%
$698,257
$698.3K
Cap Rate 9%
$543,089
$543.1K
Market Conditions
NOI Build-Up for 2,500 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
$75.0K $30.00/SF
− Vacancy
−$5.2K −$2.07/SF
EGI
$69.8K $27.93/SF
− OpEx
−$20.9K −$8.38/SF
NOI
$48.9K $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%
$977,560
Cap Rate 7%
$698,257
Cap Rate 9%
$543,089
Alternative Uses
Best Use
Retail
$698.3K
$611.0K – $814.6K
NOI $48,878 @ 7.0% cap · market cap 5.28%
Second Best
Mixed Use
$635.8K
$556.3K – $741.8K
NOI $44,505 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$761.6K
$666.4K – $888.6K
NOI $53,313 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Dining 12%
7-Eleven
Shops & Services
9,181 visits/mo
0.4 miles
Speedway
Shops & Services
7,181 visits/mo
0.5 miles
Sunoco
Shops & Services
4,099 visits/mo
0.3 miles
Gulf Oil
Shops & Services
3,742 visits/mo
0.4 miles
Carvel Ice Cream
Dining
3,498 visits/mo
0.4 miles
Demographics for 11777, NY
9,346
Population
3,893
Households
2.4
Avg Household Size
46
Median Age
69%
College-Educated
97%
High-School Grad
4.4 sq mi
ZIP Area
2,124
Density / Sq Mi
$148,519
Median Household Income
$72,042
Median Earnings
$2,261
Median Rent
$655,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is paired with an upstairs residence and separate utilities for the upper level.
Where is this mixed-use property located?
The property is located at 1500 Main St Port Jefferson, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Ground‑floor retail with a 2‑bedroom, 2‑bathroom apartment above; Finished full basement with storage; Separate utilities for the second‑floor residential or office space
