Listing Agency: The Corcoran Group | East Side Show Phone

Listed By: Sheri Winter Parker · License #10301220476 Show Phone

Source: Moodyscre

Added: Jul 30 Changed: Oct 25 Last Checked: Nov 3 at 6:50AM

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Investment Insights

Based on property information with market context.

This 3,610-square-foot mixed-use property combines retail space with two apartments located above the commercial area. Both residential units are fully leased and generate income, providing an established residential component within the property’s overall configuration.

The property is zoned Hamlet Business, supporting its commercial orientation and retail use. The combination of ground-level retail space and leased apartments creates a single asset with both business and residential elements.

Key Highlights

• 3,610‑square‑foot mixed‑use property
• Retail space with two apartments above
• Both apartments are fully leased

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,579

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,411,580 $1.4M

Cap Rate 7%

$1,008,271 $1.0M

Cap Rate 9%

$784,211 $784.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,610 SF

Gross rent

$108.3K $30.00/SF

− Vacancy

−$7.5K −$2.07/SF

EGI

$100.8K $27.93/SF

− OpEx

−$30.2K −$8.38/SF

NOI

$70.6K $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 Rate 5%

$1,411,580

Cap Rate 7%

$1,008,271

Cap Rate 9%

$784,211

Alternative Uses

Best Use

Retail

$1.01M

$882.2K – $1.18M (±1% cap)

NOI $70,579 @ 7.0% cap · market cap 4.21%

Second Best

Multifamily LT 5

$995.9K

$871.4K – $1.16M (±1% cap)

NOI $69,710 @ 7.0% cap · market cap 4.16%

Theoretical Best

Office A

$1.10M

$962.3K – $1.28M (±1% cap)

NOI $76,984 @ 7.0% cap · market cap 4.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick HVAC Service Building Supply Garden Center Electrical Service Real Estate Agency Fish Market

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

47

Businesses Nearby

Explore this area Business Placement

Demographics for 11956, NY

405

Population

291

Households

1.4

Avg Household Size

57

Median Age

69%

College-Educated

98%

High-School Grad

1.3 sq mi

ZIP Area

312

Density / Sq Mi

$121,500

Median Household Income

$128,333

Median Earnings

$1,033,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Retail space is paired with two leased apartments, creating a combined commercial and residential configuration.

Where is this mixed-use property located?

The property is located at 16500 Main St New Suffolk, NY.

What is the asking price?

The asking price for this property is $1,675,000.

What are key features of this property?

This property features: 3,610‑square‑foot mixed‑use property; Retail space with two apartments above; Both apartments are fully leased