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    Centereach Mall Centereach, NY 11720

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    Centereach Mall Centereach, NY 11720

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    • Retail properties & Spaces
    • 387,034 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bavarianexpress / Auto Repair Shop
    • Centereach Wine & Liquor / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • ATM Wal-mart / Bank / Loan Service
    • Moe's Southwest Grill / Restaurant
    • Little Explorers / High School / Daycare Center

    Property Details for 0 Centereach Mall

    Property size
    387,034 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Centereach Square presents a prime retail investment opportunity in Suffolk County. This established shopping center boasts a total of 387,034 square feet of gross leasable area, spread across 13 suites. Currently, there are 54,067 square feet of vacant space available, offering flexible options for prospective tenants. Units range from a minimum of 997 square feet to a maximum contiguous space of 14,418 square feet, catering to a variety of business needs. The property enjoys excellent visibility and accessibility, with convenient access to Nicolls Road (Route 97) and multiple traffic light access points. High traffic counts of 45,000 vehicles per day on Middle Country Road ensure significant foot traffic and exposure. Ample parking is provided with 2,307 spaces available for customers and employees. The property's annual taxes are $6.34 per square foot. This location offers a unique chance to establish or expand a business within a thriving retail environment. The diverse range of available space sizes makes this property suitable for a variety of retail and restaurant concepts. Contact us today to learn more about leasing opportunities at Centereach Square.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Centereach
    County
    Suffolk
    State
    New York
    Longitude
    -73.0825
    Latitude
    40.861

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      742-746 Middle Country Rd

      Restaurants • 5,000 SF
      742-746 Middle Country Rd, Centereach, NY 11720
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    • Value Estimation by Request
      73,000 SF

      1759 Middle Country Rd

      Retail properties & Spaces • 73,000 SF
      1759 Middle Country Rd, Centereach, NY 11720
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    • Value Estimation by Request
      11,600 SF

      2501-2507 Middle Country Rd

      Retail properties & Spaces • 11,600 SF
      2501-2507 Middle Country Rd, Centereach, NY 11720
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    • Value Estimation by Request
      0.91 Acres

      2165 Middle Country Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 0.91 Acres
      2165 Middle Country Rd, Centereach, NY 11720-3520
      View Details
    • Value Estimation
      $1,215,000
      0.43 Acres

      2845 Middle Country Rd

      RESTAURANT • 0.43 Acres
      2845 Middle Country Rd, Centereach, NY 11720
      View Details
    • Value Estimation by Request
      0.53 Acres

      2332 Middle Country Rd

      RESTAURANT • 0.53 Acres
      2332 Middle Country Rd, Centereach, NY 11720-3523
      View Details

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      Centereach Retail and Office Space

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      Centereach Retail Redevelopment Opportunity

      Free-standing retail site with redevelopment potential and ample parking.
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      Centereach Center Retail Investment

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    Similar Nearby for Lease

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      Centereach Commercial Space For Lease

      Commercial space available for lease in Centereach, New York.
      2101 Middle Country Rd, Centereach, NY 11720
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      3,231 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces for rent in Lake Grove.
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      1,600 SF

      Centereach Retail Space Available

      Retail space available for lease in Centereach, New York.
      115 Mark Tree Rd, Centereach, NY 11720
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      Retail Space with Full Basement

      Retail space for rent with a 4,800 sq. ft. basement.
      2155 Middle Country Rd, Centereach, NY 11720
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    • $2,200 /Mo

      Retail/Office Space For Rent

      Retail or office space available for rent.
      2570 Middle Country Rd, Centereach, NY 11720
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    • Contact for pricing
      14,418 SF

      Centereach Retail Space Available

      Retail space for lease in Centereach Mall.
      191-243 Centereach Mall, Centereach, NY 11720
      View Details
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    Centereach Mall
    Centereach, NY 11720
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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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