Main Street Retail Investment
For Sale
$810,000
1502 Main Street, Port Jefferson, NY 11777
Retail property for sale with existing tenant and income.
Property Size2,000 SF
Days on Market122
Property Features for 1502 Main Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,952
Building Details
Building Size
2,000 SF
Listing Agency:
Tiger Realty Group Inc
(917) 708-9966
Listed By:
Emily Hui Chen Liang
(917) 708-9966
Source:
Cohenandcohenrealty
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 9:25AM
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 Tiger Realty Group Inc
Investment Insights
Based on property information with market context.
Located on Main Street in Port Jefferson, Suffolk County, this investment property features an existing dry-cleaning tenant. The tenant currently pays $4,456 monthly, with a 3% yearly increase and three years remaining on the lease. The tenant is responsible for property taxes of $10,131.76, Village Tax of $1,410.32, and all utilities. The seller covers the building insurance of $3,650. The property generates a net income of $53,472 yearly, equating to a 6% cap rate. It includes a private driveway with five private parking spots for customer use. The walk score is 74, indicating the area is very walkable, and the bike score is 47, meaning it is somewhat bikeable.
Key Highlights
- Existing tenant provides stable income of $4,456 monthly with 3% yearly increase and three years remaining on the lease.
- Tenant pays property tax ($10,131.76) and Village Tax ($1,410.32) in addition to all utilities.
- Generates 6% plus cap rate with net annual income of $53,472.
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
$39,102
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
4.83%
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%
$782,040
$782.0K
Cap Rate 7%
$558,600
$558.6K
Cap Rate 9%
$434,467
$434.5K
Market Conditions
NOI Build-Up for 2,000 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
$60.0K $30.00/SF
− Vacancy
−$4.1K −$2.07/SF
EGI
$55.9K $27.93/SF
− OpEx
−$16.8K −$8.38/SF
NOI
$39.1K $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%
$782,040
Cap Rate 7%
$558,600
Cap Rate 9%
$434,467
Alternative Uses
Best Use
Retail
$558.6K
$488.8K – $651.7K
NOI $39,102 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$609.3K
$533.1K – $710.8K
NOI $42,650 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
30k
Monthly Visits Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Malkmes Florists & Ghses. — 70 Oakland Ave, Port Jefferson Station, NY 11776
- Slate Floral & Event Studio — 158 E Main St #2, Port Jefferson, NY 11777
Frequently Asked Questions
What type of property is this?
Storefront property - Retail property for sale with existing tenant and income.
Where is this storefront property located?
The property is located at 1502 Main Street Port Jefferson, NY.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: Existing tenant provides stable income of $4,456 monthly with 3% yearly increase and three years remaining on the lease.; Tenant pays property tax ($10,131.76) and Village Tax ($1,410.32) in addition to all utilities.; Generates 6% plus cap rate with net annual income of $53,472.
