Listing Agency: The Corcoran Group | East Side Show Phone

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

Source: Moodyscre

Added: Jul 30 Changed: Sep 6 Last Checked: Sep 18 at 8:47AM

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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 = 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

$70,579

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

4.21%

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%

$1,411,580 $1.4M

Cap Rate 7%

$1,008,271 $1.0M

Cap Rate 9%

$784,211 $784.2K

Market Conditions

NOI Build-Up for 3,610 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

$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 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%

$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.

Property Analytics

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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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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