Mixed-Use Retail/Office
For Sale
$1,849,000
228 East Main Street, Port Jefferson, NY 11777
Historic commercial space along Port Jefferson’s East Main Street corridor.
Property Size8,535 SF
Price / SF$216.64
Days on Market153
Property Features for 228 East Main Street
General Information
Standard status
Active
Size
8,535 SF
Property subtype
Retail - Street Retail
Additional Details
Public Transit
Yes
Building Details
Building Size
8,535 SF
Year Built
1900
Buildings
1
Listing Agency:
NAI Long Island
Listed By:
Lee Rosner, SIOR CCIM
Source:
Commercialcafe
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 30 at 4:13AM
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 NAI Long Island
Investment Insights
Based on property information with market context.
Located at 228 East Main Street in Port Jefferson, New York, this mixed-use commercial building contains 8,535 square feet, including the lower level. The property combines retail and office space within a structure dating to 1900, offering historic character alongside modern commercial utility.
The building sits in Port Jefferson’s downtown waterfront village, near Port Jefferson Harbor, Harborfront Park, and the Bridgeport/Port Jefferson Ferry. East Main Street provides access to the surrounding retail and dining district, while the Port Jefferson branch of the LIRR is located to the south. Stony Brook University and Hospital are within a 10-minute drive, and St. Charles Hospital is two miles east. The Long Island Museum and Belle Terre Beach are also nearby.
The building sits in Port Jefferson’s downtown waterfront village, near Port Jefferson Harbor, Harborfront Park, and the Bridgeport/Port Jefferson Ferry. East Main Street provides access to the surrounding retail and dining district, while the Port Jefferson branch of the LIRR is located to the south. Stony Brook University and Hospital are within a 10-minute drive, and St. Charles Hospital is two miles east. The Long Island Museum and Belle Terre Beach are also nearby.
Key Highlights
- 8,535 SF mixed‑use retail/office building, including the lower level
- Located at 228 East Main Street in Port Jefferson, NY 11777
- Building dates to 1900
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
$166,868
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
9.02%
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%
$3,337,360
$3.3M
Cap Rate 7%
$2,383,829
$2.4M
Cap Rate 9%
$1,854,089
$1.9M
Market Conditions
NOI Build-Up for 8,535 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
$256.1K $30.00/SF
− Vacancy
−$17.7K −$2.07/SF
EGI
$238.4K $27.93/SF
− OpEx
−$71.5K −$8.38/SF
NOI
$166.9K $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%
$3,337,360
Cap Rate 7%
$2,383,829
Cap Rate 9%
$1,854,089
Alternative Uses
Best Use
Retail
$2.38M
$2.09M – $2.78M
NOI $166,868 @ 7.0% cap · market cap 9.02%
Second Best
Mixed Use
$2.17M
$1.90M – $2.53M
NOI $151,940 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$2.60M
$2.28M – $3.03M
NOI $182,011 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,136
Businesses Nearby
Explore this area
Business Placement
Demographics for 11777, NY
9,346
Population
3,893
Households
2.4
Avg Household Size
46
Median Age
69%
College-Educated
97%
High-School Grad
4.4 sq mi
ZIP Area
2,124
Density / Sq Mi
$148,519
Median Household Income
$72,042
Median Earnings
$2,261
Median Rent
$655,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercial space along Port Jefferson’s East Main Street corridor.
Where is this mixed-use property located?
The property is located at 228 East Main Street Port Jefferson, NY.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: 8,535 SF mixed‑use retail/office building, including the lower level; Located at 228 East Main Street in Port Jefferson, NY 11777; Building dates to 1900
