Building Details

Year Built 2024

Buildings 1

Stories 1

Units 1

Tenancy Single

Listing Agency: ParaSell Inc

Listed By: Scott Reid · License #RC51900187 Show Phone

Source: Crexi

Added: Jul 20 Changed: Sep 18 Last Checked: Sep 19 at 9:30AM

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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

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 = 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

$368,358

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

8.59%

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%

$7,367,160 $7.4M

Cap Rate 7%

$5,262,257 $5.3M

Cap Rate 9%

$4,092,867 $4.1M

Market Conditions

NOI Build-Up for 20,259 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

$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 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%

$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.

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this nnn 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?

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