Two Retail Strip Centers for
For Sale
$11,896,000
193 Commack Rd, Commack, NY 11725
For-sale pair of retail strip centers with strong Commack Road frontage, ample on-site parking, and corridor exposure.
Property Size29,200 SF
Lot Size1.82 Acres
Price / SF$407.40
Days on Market51
Property Features for 193 Commack Rd
General Information
Standard status
Active
Size
29,200 SF
Lot size
1.82 Acres
Property subtype
Shopping Strip
Site & Location
Traffic Count
35,900 vehicles/day
Road Access
Yes
Additional Details
Cap Rate
6.07%
Amenities
193–225 Commack Road sits on a 1.20-acre parcel totaling roughly 20,800 SF, while 231–237 Commack Road occupies a 0.62-acre parcel with approximately 8,400 SF.
Both assets offer ample on-site parking and strong frontage in a corridor anchored by a deep lineup of national retailers.
The immediate trade area is supported by several major demand drivers, including Commack Commons, Mayfair Shopping Center, Costco, and the broader Veterans Memorial Highway retail cluster.
Building Details
Building Size
29,200 SF
Year Built
1990
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5196
Listed By:
Mike Tuccillo · License #License(s): NY: 10301217094, NY: 10491208938
(212) 430-5196
Source:
Marcusmillichap
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 11 at 4:42AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present 193–225 and 231–237 Commack Road, two well-located retail strip centers in Commack, New York. The offering consists of two separate parcels with retail square footage and strong roadway visibility, along with ample on-site parking for customer convenience.
Both properties are positioned along Commack Road, a major commercial artery carrying approximately 35,900 vehicles per day. The centers benefit from direct access to one of Long Island’s established retail corridors, with frontage that supports retail-oriented merchandising and customer traffic throughout the day. The surrounding shopping environment includes Commack Commons and Mayfair Shopping Center, along with retail activity tied to the broader Veterans Memorial Highway cluster.
This corridor is anchored by a deep lineup of national retailers and supported by a mix of consumer-focused uses, including retail, fitness, grocery, and service-oriented tenants. With more than 68,000 residents within a three-mile radius and an average household income exceeding $189,000, the area profile reflects a strong local demand base. The properties are offered for sale and may be well suited to buyers seeking retail strip-center exposure in a consistently trafficked, retail-heavy commercial corridor.
Both properties are positioned along Commack Road, a major commercial artery carrying approximately 35,900 vehicles per day. The centers benefit from direct access to one of Long Island’s established retail corridors, with frontage that supports retail-oriented merchandising and customer traffic throughout the day. The surrounding shopping environment includes Commack Commons and Mayfair Shopping Center, along with retail activity tied to the broader Veterans Memorial Highway cluster.
This corridor is anchored by a deep lineup of national retailers and supported by a mix of consumer-focused uses, including retail, fitness, grocery, and service-oriented tenants. With more than 68,000 residents within a three-mile radius and an average household income exceeding $189,000, the area profile reflects a strong local demand base. The properties are offered for sale and may be well suited to buyers seeking retail strip-center exposure in a consistently trafficked, retail-heavy commercial corridor.
Key Highlights
- Two well‑located retail strip centers on Commack Road, built in 1990
- 193–225 Commack Road: 1.20‑acre parcel with approx. 20,800 SF and strong Commack Road frontage
- 231–237 Commack Road: 0.62‑acre parcel with approx. 8,400 SF and strong Commack Road frontage
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
$570,889
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
4.80%
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%
$11,417,780
$11.4M
Cap Rate 7%
$8,155,557
$8.2M
Cap Rate 9%
$6,343,211
$6.3M
Market Conditions
NOI Build-Up for 29,200 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
$876.0K $30.00/SF
− Vacancy
−$60.4K −$2.07/SF
EGI
$815.6K $27.93/SF
− OpEx
−$244.7K −$8.38/SF
NOI
$570.9K $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%
$11,417,780
Cap Rate 7%
$8,155,557
Cap Rate 9%
$6,343,211
Alternative Uses
Best Use
Retail
$8.16M
$7.14M – $9.51M
NOI $570,889 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.90M
$7.78M – $10.38M
NOI $622,697 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
35,900 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,514
Businesses Nearby
496k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 43%
Shops & Services 28%
Dining 13%
Apparel 9%
Target
Superstores
133,051 visits/mo
0.4 miles
BJ's Wholesale Club
Superstores
78,272 visits/mo
0.3 miles
Michaels
Shops & Services
42,891 visits/mo
0.4 miles
Burlington
Apparel
42,601 visits/mo
0.5 miles
Five Below
Shops & Services
22,231 visits/mo
0.5 miles
Demographics for 11725, NY
28,838
Population
9,452
Households
3.1
Avg Household Size
45
Median Age
59%
College-Educated
97%
High-School Grad
9.7 sq mi
ZIP Area
2,973
Density / Sq Mi
$168,324
Median Household Income
$79,098
Median Earnings
$2,358
Median Rent
$643,000
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?
Strip mall - For-sale pair of retail strip centers with strong Commack Road frontage, ample on-site parking, and corridor exposure.
Where is this strip mall located?
The property is located at 193 Commack Rd Commack, NY.
What is the asking price?
The asking price for this property is $11,896,000.
What are key features of this property?
This property features: Two well‑located retail strip centers on Commack Road, built in 1990; 193–225 Commack Road: 1.20‑acre parcel with approx. 20,800 SF and strong Commack Road frontage; 231–237 Commack Road: 0.62‑acre parcel with approx. 8,400 SF and strong Commack Road frontage
