Listing Agency: RE/MAX City Square l***@gmail.com Show Phone

Listed By: Laurel O'Mara · License #10401306699 Show Phone

Source: Xome

Added: Sep 29, 2025 Changed: Aug 12 Last Checked: Aug 20 at 5:02AM

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Investment Insights

Based on property information with market context.

This for-sale Main Street retail storefront offers a character-filled setting in a building originally constructed in the 1800s. The property is sized to support a retail tenant seeking an authentic, historic shopfront presence.

Located at 425 Main St in Greenport, the shop benefits from a highly walkable Main Street position within Historic Greenport.

The offering is for the retail shop space only, with a property size of 1,800 square feet.

Key Highlights

• Main Street retail storefront shop built in the 1800s
• Located in the heart of Historic Greenport
• Heating: 3

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

$35,192

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

4.02%

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%

$703,840 $703.8K

Cap Rate 7%

$502,743 $502.7K

Cap Rate 9%

$391,022 $391.0K

Market Conditions

NOI Build-Up for 1,800 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

$54.0K $30.00/SF

− Vacancy

−$3.7K −$2.07/SF

EGI

$50.3K $27.93/SF

− OpEx

−$15.1K −$8.38/SF

NOI

$35.2K $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%

$703,840

Cap Rate 7%

$502,743

Cap Rate 9%

$391,022

Alternative Uses

Best Use

Retail

$502.7K

$439.9K – $586.5K (±1% cap)

NOI $35,192 @ 7.0% cap · market cap 4.02%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$548.4K

$479.8K – $639.8K (±1% cap)

NOI $38,385 @ 7.0% cap · market cap 4.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Dental Office Auto Repair Shop Auto Parts Store Building Supply Hair Salon Nail Salon

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

516

Businesses Nearby

9k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

7-Eleven Shops & Services

7,550 visits/mo 0.4 miles

M&T Bank Shops & Services

1,828 visits/mo 0.4 miles

Demographics for 11944, NY

4,801

Population

3,106

Households

1.5

Avg Household Size

48

Median Age

43%

College-Educated

86%

High-School Grad

4.1 sq mi

ZIP Area

1,171

Density / Sq Mi

$79,917

Median Household Income

$51,480

Median Earnings

$2,048

Median Rent

$822,200

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

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Frequently Asked Questions

What type of property is this?

Retail space - For sale storefront retail shop built in the 1800s in the heart of Historic Greenport.

Where is this retail space located?

The property is located at 425 MAIN ST East Moriches, NY.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: Main Street retail storefront shop built in the 1800s; Located in the heart of Historic Greenport; Heating: 3