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    575 Portion Rd Lake Ronkonkoma, NY 11779
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    575 Portion Rd Lake Ronkonkoma, NY 11779

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    • Retail properties & Spaces
    • 4,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Century 21 Castle : Douglas Graham Wesbee / Real Estate Agency
    • Signature Premier Properties : Michele Sanchez / Real Estate Agency
    • BelieveitWill.com Wellness Practitioner / Real Estate Agency
    • Century 21 Castle R E Prop Inc: Janice Fanelli / Real Estate Agency
    • Charles Castelli, Century 21 Castle R E Prop Inc / Real Estate Agency

    Property Details for 575 Portion Rd

    Year built
    2024
    Property size
    4,000 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional investment opportunity presents a fee-simple condominium interest in a brand-new, single-story, 4,000-5,000 square foot Chick-fil-A restaurant located at 575 Portion Road, Lake Ronkonkoma, NY 11779. The property boasts a corporate-guaranteed, 20-year net lease (NNN) commencing October 15, 2024, with eight five-year renewal options. Rent escalates 10% every five years beginning in year eleven. The property sits on a +/-1.16-acre pad within a larger +/-12.1-acre property featuring approximately 94,911 square feet across three buildings. Strong co-tenancy includes Planet Fitness, Dollar Tree, and AutoZone, along with nearby ShopRite and Stop & Shop supermarkets. The site benefits from high visibility and traffic counts of 22,000 vehicles per day. The surrounding 3-mile radius boasts a population of 97,000 with an average household income exceeding $150,000. The property is zoned J2 and offers excellent access via four traffic light-controlled entrances, with the Long Island Expressway (Exit 60) just 1.5 miles away. The current Net Operating Income (NOI) is $225,000, resulting in a compelling 4.4% capitalization rate. This is a rare opportunity to acquire a management-free investment with a best-in-class tenant in a prime location within a high-traffic retail corridor. The ground lease has 20 years remaining. This is a truly exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lake Ronkonkoma
    County
    Suffolk
    State
    New York
    Longitude
    -73.0928
    Latitude
    40.8307

    Comparable in this City

    • Value Estimation by Request
      25,480 SF

      106 Ronkonkoma Ave

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    • Value Estimation by Request
      107,444 SF

      258 Portion Rd

      Retail properties & Spaces • 107,444 SF
      258 Portion Rd, Lake Ronkonkoma, NY 11779
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    • Value Estimation by Request
      47,057 SF

      717 Hawkins Ave

      Retail properties & Spaces • 47,057 SF
      717 Hawkins Ave, Ronkonkoma, NY 11779
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    • Value Estimation by Request
      0.17 Acres

      519 Hawkins Ave

      RESTAURANT • 0.17 Acres
      519 Hawkins Ave, Ronkonkoma, NY 11779-2303
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    • Value Estimation by Request
      0.20 Acres

      451 Hawkins Ave

      RESTAURANT • 0.20 Acres
      451 Hawkins Ave, Ronkonkoma, NY 11779-4239
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    • Value Estimation by Request
      0.83 Acres

      553 Hawkins Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 0.83 Acres
      553 Hawkins Ave, Ronkonkoma, NY 11779-2325
      View Details

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      Ronkonkoma Retail Space Available

      Retail space available for rent in Ronkonkoma, New York.
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      Versatile Retail or Office Space

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      Lake Ronkonkoma Retail Center

      Retail and office spaces available in Lake Ronkonkoma.
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      Lake Ronkonkoma Retail Center Space

      Retail center with national tenants in Lake Ronkonkoma.
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    Lake Ronkonkoma, NY 11779
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    575 Portion Rd, Lake Ronkonkoma, NY, 11779
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