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    Renovated Retail Building Near Mall Title is generated by Realmo AI

    2845 Middle Country Road, Lake Grove, NY 11755

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    For Sale
    $1,999,000

    Renovated retail building near Smith Haven Mall with high visibility.

    Type:Retail
    Property size:
    4,200 SF
    Price / SF:
    $475/SF
    Added:
    Nov 21, 2025
    Days on Market:
    181
    Last Refresh:
    Apr 5 at 10:37 pm

    Property Features for 2845 Middle Country Road

    General Information

    Standard status
    Active
    Size
    4,200 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Marian Campi-Conde
    Marian Campi-Conde

    Listing agent Marian Campi-Conde License #NY #10401290062

    Listing office NAI Long Island

    Listing date Nov 21, 2025

    Source Naiglobal

    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

    HighLights

    • High visibility corner location on Middle Country Road with 40,000+ daily traffic count, offering exceptional exposure.
    • Recently renovated in 2023, providing a modern and updated retail space.
    • Flexible J‑2 zoning allows for versatile retail use.
    • 7,000 SF freestanding building (4,200 SF building plus 2,800 SF of elevator accessible storage space).
    • Convenient access with 2 curb cuts and 22 parking spaces.
    • Proximity to Smith Haven Mall (one‑half mile) enhances customer draw.

    Overview

    Located at 2845 Middle Country Road, Lake Grove, NY, this renovated 7,000 square foot building, originally constructed in 1995 and refurbished in 2023, is suitable for retail or retail showroom use. The property is zoned J-2 and is located approximately one-half mile from Smith Haven Mall. The location benefits from high visibility on a corner property along Middle Country Road, with a traffic count exceeding 40,000 vehicles daily. The building features 22 parking spaces and two curb cuts for accessibility. Elevator service is available to all floors and the basement. The flexible J-2 zoning allows for versatile use. In addition to the 4,200 square foot building, there is 2,800 square feet of elevator-accessible storage space. The building is equipped with two newly outfitted high-efficiency HVAC units and 600 AMPS of power. Drive-in access to the showroom floor provides convenience.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Swarski Jewelry (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Classic Carpet of Lake Grove — 2858 Middle Country Rd, Lake Grove, NY 11755
    • Carpet Depot — 2970 Middle Country Rd, Lake Grove, NY 11755
    • CCP Home Improvements
    • Long Island Tile Works Inc — 20 Reizen Ave, Centereach, NY 11720
    • Carpet Your World — 2838 Middle Country Rd, Lake Grove, NY 11755

    Location Insight

    • Map
    • Local Demand
    City
    Lake Grove
    County
    Suffolk
    State
    New York
    Longitude
    -73.1144
    Latitude
    40.8607

    FAQs

    What type of property is this?
    Showroom - Renovated retail building near Smith Haven Mall with high visibility.
    Where is this showroom located?
    The property is located at 2845 Middle Country Road Lake Grove, NY.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: High visibility corner location on Middle Country Road with 40,000+ daily traffic count, offering exceptional exposure.; Recently renovated in 2023, providing a modern and updated retail space.; Flexible J‑2 zoning allows for versatile retail use.
    (631) 761-9628
    We can help!
    Listing Contact
    Marian Campi-Conde
    Marian Campi-Conde
    Real Estate License ID: NY #10401290062
    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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