Historic Main Street Retail
For Sale
$875,000
Pending
425 Main, Greenport, NY 11944
Charming retail shop in the heart of historic Greenport.
Property Size1,800 SF
Lot Size0.12 Acres
Days on Market164
Property Features for 425 Main
General Information
Standard status
Pending
Size
1,800 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,435
Building Details
Building Size
1,800 SF
Listing Agency:
ReMax Shores
(516) 209-9627
Listed By:
Laurel O'Mara · License #10401306699
(516) 209-9627
Source:
Elliman
Added: Mar 10
Changed: Aug 12
Last Checked: Aug 20 at 7:56AM
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 ReMax Shores
Investment Insights
Based on property information with market context.
This is a unique opportunity to own a retail shop on Main Street in the heart of historic Greenport. The property was built in the 1800s and is full of charm and history.
Key Highlights
- Main Street Retail Shop
- Located in the heart of Historic Greenport
- Unique opportunity
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
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
NOI $38,385 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 72%
Shops & Services 28%
IGA Greenport
Groceries
9,299 visits/mo
0.1 miles
Chase Bank
Shops & Services
3,533 visits/mo
0.2 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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bohemian World Flowers & Boutique — 208 Front St, Greenport, NY 11944
Frequently Asked Questions
What type of property is this?
Storefront property - Charming retail shop in the heart of historic Greenport.
Where is this storefront property located?
The property is located at 425 Main Greenport, 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 Shop; Located in the heart of Historic Greenport; Unique opportunity
