Building Details

Year Built 2024

Buildings 1

Stories 1

Units 1

Tenancy Single

Listing Agency: ParaSell Inc

Listed By: Scott Reid · License #23763 Show Phone

Source: Crexi

Added: Jul 20 Changed: Nov 3 Last Checked: Nov 4 at 1:45PM

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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 ParaSell Inc

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Investment Insights

Based on property information with market context.

This NNN retail property encompasses 20,259 square feet and was constructed in 2024. The asset is identified with ALDI and is located at 215 Carleton Avenue in Central Islip, New York 11722.

Key Highlights

• 20,259‑square‑foot NNN retail property
• Constructed in 2024
• Identified with ALDI

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$368,358

Cap Rate

8.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,367,160 $7.4M

Cap Rate 7%

$5,262,257 $5.3M

Cap Rate 9%

$4,092,867 $4.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,259 SF

Gross rent

$527.5K $26.04/SF

− Vacancy

−$36.4K −$1.80/SF

EGI

$491.1K $24.24/SF

− OpEx

−$122.8K −$6.06/SF

NOI

$368.4K $18.18/SF

Area

Suffolk County, NY

Vacancy

6.90%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,367,160

Cap Rate 7%

$5,262,257

Cap Rate 9%

$4,092,867

Alternative Uses

Best Use

Retail

$5.66M

$4.95M – $6.60M (±1% cap)

NOI $396,084 @ 7.0% cap · market cap 9.23%

Second Best

Specialty Retail

$5.26M

$4.60M – $6.14M (±1% cap)

NOI $368,358 @ 7.0% cap · market cap 8.59%

Theoretical Best

Office A

$6.17M

$5.40M – $7.20M (±1% cap)

NOI $432,028 @ 7.0% cap · market cap 10.07%

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

Property Analytics

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Restaurant Auto Repair Shop Big Box & Wholesale Store

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

430

Businesses Nearby

176k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Superstores 48% Home Improvements & Furnishings 19% Shops & Services 17% Dining 8%

Target Superstores

85,028 visits/mo 0.4 miles

The Home Depot Home Improvements & Furnishings

33,980 visits/mo 0.2 miles

Dollar Tree Shops & Services

14,867 visits/mo 0.4 miles

Pet Supplies Plus Shops & Services

11,617 visits/mo 0.4 miles

TGI Fridays Dining

5,928 visits/mo 0.4 miles

Demographics for 11722, NY

37,491

Population

10,824

Households

3.5

Avg Household Size

35

Median Age

18%

College-Educated

77%

High-School Grad

7.0 sq mi

ZIP Area

5,356

Density / Sq Mi

$110,365

Median Household Income

$42,424

Median Earnings

$2,094

Median Rent

$407,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

NNN property - Grocery retail property constructed in 2024.

Where is this nnn property located?

The property is located at 215 Carleton Avenue Central Islip, NY.

What is the asking price?

The asking price for this property is $4,290,000.

What are key features of this property?

This property features: 20,259‑square‑foot NNN retail property; Constructed in 2024; Identified with ALDI