Seven-Store Shopping
For Sale
Contact for pricing
64 Echo Avenue, Miller Place, NY 11764
Retail property combining multiple storefronts with a separate freestanding building.
Property Size11,440 SF
Price / SF$520.10
Days on Market140
Property Features for 64 Echo Avenue
General Information
Standard status
Active
Size
11,440 SF
Property subtype
Retail
Additional Details
Gross Income
$435,673
Building Details
Tenancy
Multi
Listing Agency:
CENTURY 21 Sherlock Homes
(516) 459-5379
Listed By:
Roger Hart · License #NY
Source:
Crexi
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 30 at 2:19AM
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 CENTURY 21 Sherlock Homes
Investment Insights
Based on property information with market context.
This retail property includes a seven-store shopping center together with one freestanding building. The offering is located at 64 Echo Avenue in Miller Place, New York, within ZIP code 11764.
Key Highlights
- Seven‑store shopping center
- One separate freestanding building
- 64 Echo Avenue, Miller Place, NY 11764
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
$223,663
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
3.76%
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%
$4,473,260
$4.5M
Cap Rate 7%
$3,195,186
$3.2M
Cap Rate 9%
$2,485,144
$2.5M
Market Conditions
NOI Build-Up for 11,440 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
$343.2K $30.00/SF
− Vacancy
−$23.7K −$2.07/SF
EGI
$319.5K $27.93/SF
− OpEx
−$95.9K −$8.38/SF
NOI
$223.7K $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%
$4,473,260
Cap Rate 7%
$3,195,186
Cap Rate 9%
$2,485,144
Alternative Uses
Best Use
Retail
$3.20M
$2.80M – $3.73M
NOI $223,663 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $243,961 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
66k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 49%
Dining 30%
Shops & Services 16%
Electronics 4%
Marshalls
Apparel
32,493 visits/mo
0.4 miles
Applebee's
Dining
16,114 visits/mo
0.5 miles
Dollar Tree
Shops & Services
10,893 visits/mo
0.3 miles
Playa Bowls
Dining
2,858 visits/mo
0.5 miles
Verizon
Electronics
2,802 visits/mo
0.2 miles
Demographics for 11764, NY
12,566
Population
4,605
Households
2.7
Avg Household Size
43
Median Age
48%
College-Educated
94%
High-School Grad
9.2 sq mi
ZIP Area
1,366
Density / Sq Mi
$142,344
Median Household Income
$62,823
Median Earnings
$1,221
Median Rent
$589,400
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
- North Country Plaza — 275 NY-25A, Miller Place, NY 11764
- Miller Place Plaza — 451 NY-25A, Miller Place, NY 11764
- Park Ave. Plaza — 465 NY-25A, Miller Place, NY 11764
Frequently Asked Questions
What type of property is this?
Shopping center - Retail property combining multiple storefronts with a separate freestanding building.
Where is this shopping center located?
The property is located at 64 Echo Avenue Miller Place, NY.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Seven‑store shopping center; One separate freestanding building; 64 Echo Avenue, Miller Place, NY 11764
