High-Visibility Retail
For Sale
Contact for pricing
516 Walt Whitman Road, Melville, NY 11747
Renovated retail building with vacant high-ceiling showroom space and approximately 130 feet of Route 110 frontage.
Property Size10,200 SF
Lot Size0.67 Acres
Price / SF$352.94
Days on Market88
Property Features for 516 Walt Whitman Road
General Information
Standard status
Active
Size
10,200 SF
Total Parking Spaces
22
Lot size
0.67 Acres
Property subtype
Retail
Zoning
C8 (Town of Huntington)
Investment Type
Owner/User
Site & Location
Traffic Count
42,567 vehicles/day
Road Access
Yes
Building Details
Year Built
1969
Year Renovated
2015
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
RIPCO Real Estate
Listed By:
Jason Sobel · License #10401286654
(347) 865-4524
Source:
Crexi
Added: Jun 12
Changed: Aug 22
Last Checked: Sep 5 at 7:28PM
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 RIPCO Real Estate
Investment Insights
Based on property information with market context.
516 Walt Whitman Road is a highly visible retail building on a 0.67-acre lot. Originally constructed in 1969 and renovated in 2015, the property offers a total of 10,200 square feet, including approximately 8,700 square feet of vacant retail showroom space with high ceilings.
The building is currently occupied by Dunkin’ Donuts. The property provides approximately 130 feet of frontage on Route 110, along with pylon signage exposure described as reaching over 42,567 vehicles per day.
Situated in Melville, the property is approximately half a mile from Walt Whitman Shops and the Whole Foods-anchored Huntington Shopping Center. The surrounding retail environment is described as including major national retailers.
The building is currently occupied by Dunkin’ Donuts. The property provides approximately 130 feet of frontage on Route 110, along with pylon signage exposure described as reaching over 42,567 vehicles per day.
Situated in Melville, the property is approximately half a mile from Walt Whitman Shops and the Whole Foods-anchored Huntington Shopping Center. The surrounding retail environment is described as including major national retailers.
Key Highlights
- 10,200 SF retail building on a 0.67‑acre lot, originally built in 1969 and renovated in 2015
- Approximately 130 ft of frontage on Route 110 with pylon signage exposure to over 42,567 vehicles per day
- Dunkin' Donuts currently occupied; 8,700 SF of high‑ceiling vacant retail showroom space
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
$199,420
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
5.54%
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%
$3,988,400
$4.0M
Cap Rate 7%
$2,848,857
$2.8M
Cap Rate 9%
$2,215,778
$2.2M
Market Conditions
NOI Build-Up for 10,200 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
$306.0K $30.00/SF
− Vacancy
−$21.1K −$2.07/SF
EGI
$284.9K $27.93/SF
− OpEx
−$85.5K −$8.38/SF
NOI
$199.4K $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%
$3,988,400
Cap Rate 7%
$2,848,857
Cap Rate 9%
$2,215,778
Alternative Uses
Best Use
Retail
$2.85M
$2.49M – $3.32M
NOI $199,420 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,518 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
42,567 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
199k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 31%
Shops & Services 30%
Groceries 19%
Home Improvements & Furnishings 12%
Whole Foods Market
Groceries
37,381 visits/mo
0.4 miles
Michaels
Shops & Services
25,199 visits/mo
0.5 miles
Bethpage Federal Credit Union
Shops & Services
21,463 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
20,365 visits/mo
0.3 miles
Starbucks
Dining
15,431 visits/mo
0.2 miles
Demographics for 11747, NY
20,133
Population
7,871
Households
2.6
Avg Household Size
51
Median Age
62%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,598
Density / Sq Mi
$154,914
Median Household Income
$78,688
Median Earnings
$3,501
Median Rent
$747,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Renovated retail building with vacant high-ceiling showroom space and approximately 130 feet of Route 110 frontage.
Where is this retail space located?
The property is located at 516 Walt Whitman Road Melville, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 10,200 SF retail building on a 0.67‑acre lot, originally built in 1969 and renovated in 2015; Approximately 130 ft of frontage on Route 110 with pylon signage exposure to over 42,567 vehicles per day; Dunkin' Donuts currently occupied; 8,700 SF of high‑ceiling vacant retail showroom space
