Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    371 Smithtown Bypass Hauppauge, NY 11788

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in Hauppauge Shopping Center.

    Type:Retail
    Property size:
    134,000 SF
    Added:
    Aug 21, 2021
    Days on Market:
    1703
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 371 Smithtown Bypass

    General Information

    Standard status
    Active
    Size
    134,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 371 Smithtown Bypass Contact us

    We can help!

    Listing Contact
    Joe Byrnes

    Listing agent Joe Byrnes License #MD

    Listing office Federal Realty Investment Trust

    Listing date Aug 21, 2021

    Source Crexi

    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 Federal Realty Investment Trust

    Overview

    Hauppauge Retail Shopping Center Space

    Hauppauge Shopping Center, situated in Suffolk County at the intersection of Route 111 and Route 347 in Hauppauge, New York, offers retail spaces for rent. The property encompasses a total of 134,000 square feet and provides 603 parking spaces. Anchored by Shop Rite and Panera Bread, the center features a variety of shops and services, including fast casual dining, health and beauty options, and banking facilities.
    Location Intelligence

    Current Use by Public Records

    Aristocraft Opticians Ophthalmologist T.J. Maxx Clothing & Fashion Store Hauppauge Shopping Center Shopping Center & Mall ERICA JEAN SHUDER Physician Five Below (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Maple Commons Shopping Center — 290320 Maple Ave, Smithtown, NY 11787
    • Hauppauge Shopping Center — 371 Smithtown Bypass, Hauppauge, NY 11788
    • Hauppauge Plaza — 582 Veterans Memorial Hwy, Hauppauge, NY 11788

    Location Insight

    • Map
    • Local Demand
    City
    Hauppauge
    County
    Suffolk
    State
    New York
    Longitude
    -73.176249
    Latitude
    40.84209

    Nearby Similar for Lease

    • Contact for pricing

      Renovated Office Space Available

      Newly renovated office space with shared amenities in Hauppauge, NY.
      140 Adams Avenue, Hauppauge, NY 11788
      View Details
    • Contact for pricing

      NY, Hauppauge - Veterans Memorial Highway

      888 Veterans Memorial Hwy, Hauppauge, NY 11788
      View Details
    • Sponsored
      Contact for pricing

      150 Motor Parkway

      150 Motor Pkwy, Unit 401, Hauppauge, NY 11788
      View Details
    • $23/mo

      Hauppauge Office Building for Sale

      Well-located office building with ample parking and updated common areas.
      1300 Veterans Memorial Highway, Hauppauge, NY 11788
      View Details
    • $23/mo

      Hauppauge Office Space For Rent

      Office space with expressway visibility and ample parking available for rent.
      300 Wheeler Rd, Hauppauge, NY
      View Details
    • Contact for pricing

      Hauppauge Industrial Property For Lease

      Industrial property for lease featuring loading docks and high ceilings.
      65 Commerce Dr, Hauppauge, NY 11788
      View Details
    • Contact for pricing

      Office/Medical Space in Hauppauge Park

      Fully leased office and medical building with abundant parking.
      125 Kennedy Dr, Hauppauge, NY 11788
      View Details
    • $17/mo

      Hauppauge Flex/Industrial Space Available

      Flex/industrial space for rent in Hauppauge, NY.
      40 Oser Ave, Hauppauge, NY
      View Details
    • Contact for pricing

      Hauppauge Office Space For Rent

      16,000 sqft Hauppauge office space ideal for medical/professional use.
      99 Smithtown Bypass, Hauppauge, NY, 11788
      View Details
    • $22/mo

      Hauppauge Office Space Available

      Office space for rent in Hauppauge, NY.
      360 Motor Pkwy, Hauppauge, NY
      View Details
    • $15/mo

      Hauppauge Industrial Space Available

      5,000 square feet of industrial space for lease.
      651-661 Old Willets Path, Hauppauge, NY
      View Details
    • $24/mo

      Hauppauge Office Space Available

      Office space available for rent in Hauppauge, New York.
      750 Veterans Hwy, Hauppauge, NY
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in Hauppauge Shopping Center.
    Where is this shopping center located?
    The property is located at 371 Smithtown Bypass Hauppauge, NY.
    What are key features of this property?
    This property features: Anchored by Shop Rite and Panera Bread, attracting consistent customer traffic; Located at the intersection of Route 111 and Route 347 in Hauppauge, New York, providing high visibility and accessibility; Features a total of 134,000 square feet, offering substantial space for various businesses
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe Byrnes
    Real Estate License ID: MD
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!