High-Visibility Retail
516 Walt Whitman Road Melville, NY 11747
516 Walt Whitman Road, Melville, NY, 11747
Contact for pricing
For Sale
Contact for pricing
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 Market42
Property Features for 516 Walt Whitman Road
General Information
- Standard status
- Active
- Size
- 10,200 SF
- Lot size
- 0.67 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1969
Listing agency
RIPCO Real Estate
(347) 865-4524
Listed by
Jason Sobel · License #10401286654
Source
Crexi
Added: Jun 12 Updated: Jul 22 at 5:11PM Checked: Jul 22 at 5:11PM
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
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $306.0k | $30.00 |
| − Vacancy | −$21.1k | −$2.07 |
| EGI | $284.9k | $27.93 |
| − OpEx | −$85.5k | −$8.38 |
| NOI | $199.4k | $19.55 |
10,200 SF · lease $30.00/SF/yr · vacancy 6.90% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dunkin'
Cafe & Coffee Shop
Bambi Baby Store
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
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
