Greenport Commercial Property on
For Sale
$1,225,000
69465 Main Rd, Greenport, NY 11944
Highly visible commercial building with business opportunities in Greenport.
Property Size6,000 SF
Lot Size0.33 Acres
Price / SF$204.17
Days on Market163
Property Features for 69465 Main Rd
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.33 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,138
Building Details
Building Size
6,000 SF
Listing Agency:
Brown Harris Stevens Hamptons
(516) 315-6867
Listed By:
John P. Vitello
(516) 315-6867
Source:
Elliman
Added: Mar 12
Changed: Aug 21
Last Checked: Aug 21 at 11:23AM
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 Brown Harris Stevens Hamptons
Investment Insights
Based on property information with market context.
This commercial property is located on Main Road in Greenport. The building has approximately 6,000 square feet of space and is situated on 0.33 acres. The property's location benefits from traffic to and from nearby Greenport Village. It offers a variety of potential business opportunities, including retail, service, restaurant, and professional offices. The zoning is LB.
Key Highlights
- Highly visible commercial property on Main Road.
- Spacious +/- 6000 sf building on .33 acres.
- Located in Greenport, near Greenport Village.
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
$109,095
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
8.91%
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%
$2,181,900
$2.2M
Cap Rate 7%
$1,558,500
$1.6M
Cap Rate 9%
$1,212,167
$1.2M
Market Conditions
NOI Build-Up for 6,000 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
$156.2K $26.04/SF
− Vacancy
−$10.8K −$1.80/SF
EGI
$145.5K $24.24/SF
− OpEx
−$36.4K −$6.06/SF
NOI
$109.1K $18.18/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,181,900
Cap Rate 7%
$1,558,500
Cap Rate 9%
$1,212,167
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,306 @ 7.0% cap · market cap 9.58%
Second Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $109,095 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,951 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Highly visible commercial building with business opportunities in Greenport.
Where is this retail property located?
The property is located at 69465 Main Rd Greenport, NY.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Highly visible commercial property on Main Road.; Spacious +/- 6000 sf building on .33 acres.; Located in Greenport, near Greenport Village.
