Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    371 Smithtown Byp Smithtown, NY 11788
    Back to Search
    Property profile & analytics

    371 Smithtown Byp Smithtown, NY 11788

    View on Map
    • Lifestyle centers
    • 134,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 371 Smithtown Byp

    Property size
    134,000 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    The Hauppauge Shopping Center, a vibrant retail hub situated in Suffolk County, New York, presents a compelling investment opportunity. Strategically located at the intersection of Route 111 and Route 347 in Hauppauge, this 134,000 square foot shopping center boasts a prime location with excellent visibility and accessibility. The property sits on a generous 15-acre lot and offers ample parking with 603 spaces to accommodate customers and employees. Currently, there are multiple spaces available, ranging from a minimum of 1,085 square feet to a maximum contiguous space of 6,019 square feet; a total of 8,121 square feet is currently vacant. The center is anchored by well-established and popular tenants, ShopRite and Panera Bread, providing a strong draw for shoppers. This diverse tenant mix also includes a variety of shops and services catering to a broad range of consumer needs, encompassing fast-casual dining options, health and beauty retailers, and banking services. This established center offers a unique opportunity for businesses seeking high-traffic exposure in a thriving community. The property's size, location, and existing tenant base make it an attractive proposition for both established businesses and new ventures seeking a foothold in a successful retail environment. The significant parking capacity ensures convenient access for customers, further enhancing the overall shopping experience.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Smithtown
    County
    Suffolk
    State
    New York
    Longitude
    -73.2017
    Latitude
    40.8277

    Comparable in this City

    • Value Estimation by Request
      20,700 SF

      536 Ny-111

      Lifestyle centers • 20,700 SF
      536 Ny-111, Hauppauge, NY 11788
      View Details
    • Value Estimation by Request
      0.96 Acres

      465 Smithtown Byp

      SHOPPING CENTER, STRIP CENTER • 0.96 Acres
      465 Smithtown Byp, Smithtown, NY 11788
      View Details
    • Value Estimation by Request
      1.70 Acres

      260 Smithtown Byp

      SHOPPING CENTER, STRIP CENTER • 1.70 Acres
      260 Smithtown Byp, Smithtown, NY 11788
      View Details
    • Value Estimation by Request
      7.50 Acres

      Rte 25th A A

      SHOPPING CENTER, STRIP CENTER • 7.50 Acres
      Rte 25th A A, Hauppauge, NY 11788
      View Details
    • Value Estimation by Request
      23.60 Acres

      Jericho Tpke

      SHOPPING CENTER, STRIP CENTER • 23.60 Acres
      Jericho Tpke, Hauppauge, NY 11788
      View Details
    • Value Estimation by Request
      3.42 Acres

      694 Motor Pkwy

      SHOPPING CENTER, STRIP CENTER • 3.42 Acres
      694 Motor Pkwy, Hauppauge, NY 11788-5175
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      Hauppauge Industrial Building with Yard

      6,000 SF industrial building with fenced yard in Hauppauge.
      263 Calebs Path, Hauppauge, NY 11788
      View Details
    • Contact for pricing
      140,000 SF

      Hauppauge Warehouse with Acreage

      140,000 SF warehouse on 7.10 acres in Hauppauge.
      2100 Pacific St, Hauppauge, NY 11788
      View Details
    • Contact for pricing
      33,540 SF

      Hauppauge Industrial Space Available

      Industrial property available for rent in Hauppauge, New York.
      10 Commerce Dr, Hauppauge, NY 11788
      View Details
    • Contact for pricing
      32,340 SF

      Hauppauge Flex / Industrial Building

      Flex/industrial building featuring office, R&D, loading dock, and drive-ins.
      135 Ricefield Ln, Hauppauge, NY 11788
      View Details
    • Contact for pricing
      20,114 SF

      Pharmaceutical Manufacturing Facility For Sale

      20,114 SF Hauppauge facility ideal for pharmaceutical manufacturing.
      320 Oser Ave, Hauppauge, NY 11788
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,019 SF

      Hauppauge Retail Space For Rent

      Retail space available in Hauppauge Shopping Center.
      355-397 Smithtown Byp, Hauppauge, NY 11788
      View Details
    • Contact for pricing
      3,800 SF

      Retail Space Near Major Highways

      Retail property with easy access and ample parking.
      526-542 Hauppauge Rd, Hauppauge, NY 11788
      View Details
    • Contact for pricing

      Hauppauge Retail Shopping Center Space

      Retail space available in Hauppauge Shopping Center.
      371 Smithtown Byp, Hauppauge, NY 11788
      View Details
    • Contact for pricing
      2,005 SF

      Retail Space Near Innovation Park

      Retail space with high ceilings near Long Island Expressway.
      410 Vanderbilt Motor Pkwy, Hauppauge, NY 11788
      View Details
    • Contact for pricing

      Hauppauge Industrial Space For Lease

      Industrial space featuring offices, conference room, kitchenette, and new HVAC.
      400 Oser Ave, Hauppauge, NY 11788
      View Details
    • Contact for pricing

      Industrial Single Tenant Space

      10,000 SqFt industrial space available for single tenant.
      35 Davids Dr, Hauppauge, NY 11788
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    371 Smithtown Byp
    Smithtown, NY 11788
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    371 Smithtown Byp, Smithtown, NY, 11788
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!