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    Grocery Store with Deli & Window Title is generated by Realmo AI

    21 Broadway, Fair Harbor, NY 11706

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    For Sale
    $3,350,000

    Turnkey grocery business and retail property with deli service, walk-in refrigeration, and a breakfast/lunch/ice cream window.

    Type:Commercial
    Added:
    May 28, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 4 at 1:54 am

    Property Features for 21 Broadway

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    NATHANIEL J. LARSON

    Listing agent NATHANIEL J. LARSON

    Listing office DANIEL GALE SOTHEBYS INTL RLTY

    Listing date May 28, 2026

    Source Corcoran

    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 DANIEL GALE SOTHEBYS INTL RLTY

    HighLights

    • Fair Harbor Market grocery business has operated since 1968 in Fair Harbor’s downtown area on Fire Island
    • Business is seasonal, operating annually from May through October
    • Store layout includes 4 main grocery aisles, dedicated deli cases, and a large beverage section
    • Includes behind‑the‑deli walk‑in refrigeration box, walk‑in freezer, and dual walk‑in coolers
    • Commercial equipment includes new cooking hood with integrated fire suppression system, electric grill, and commercial ice machine
    • Second‑floor 2‑bedroom apartment plus an adjoining breakfast/lunch/ice cream window for added on‑site use

    Overview

    Fair Harbor Market is a turnkey grocery and convenience store built for efficient, high-volume seasonal operations. The layout includes four main grocery aisles, dedicated deli cases, and a large beverage section, complemented by extensive refrigerated merchandising for dairy, meat, beer, beverages, frozen foods, and ice cream. Behind the deli counter, a walk-in refrigeration box supports preparation and storage. The equipment set includes a computerized house account system, an ATM, a commercial ice machine, and a new cooking hood with an integrated fire suppression system. Additional refrigeration includes a walk-in freezer, dual walk-in coolers, multiple box freezers, and a high-capacity commercial ice maker.

    Located in the heart of Fair Harbor’s downtown at 21 Broadway, the property serves neighboring communities including Dunewood, Lonelyville, Atlantique, Saltaire, and Kismet. The business operates annually from May through October, supported by steady seasonal activity in one of Fire Island’s most active west-end communities.

    The site is designed for day-to-evening foot traffic, with an adjoining breakfast, lunch, and ice cream window. A second-floor two-bedroom apartment provides owner accommodations, staff housing, or potential rental income. Offered together as a long-established Fire Island institution since 1968, this is a practical option for an operator seeking an established grocery operation with an integrated, well-equipped retail facility.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Real Estate Agency Hotel & Motel Gym & Fitness Center Food Market Grocery & Convenience Store Wine and Liquor Store Supermarket

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Saltaire Market — 100 Broadway Rd, Saltaire, NY 11706

    Location Insight

    • Map
    • Local Demand
    City
    Fair Harbor
    County
    Suffolk
    State
    New York
    Longitude
    -73.2632
    Latitude
    40.7379

    FAQs

    What type of property is this?
    Grocery and convenience store - Turnkey grocery business and retail property with deli service, walk-in refrigeration, and a breakfast/lunch/ice cream window.
    Where is this grocery and convenience store located?
    The property is located at 21 Broadway Fair Harbor, NY.
    What is the asking price?
    The asking price for this property is $3,350,000.
    What are key features of this property?
    This property features: Fair Harbor Market grocery business has operated since 1968 in Fair Harbor’s downtown area on Fire Island; Business is seasonal, operating annually from May through October; Store layout includes 4 main grocery aisles, dedicated deli cases, and a large beverage section
    (631) 647-7013
    We can help!
    Listing Contact
    NATHANIEL J. LARSON
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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