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    199 Main St Smithtown, NY 11787-2892
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    Property profile & analytics

    199 Main St, Smithtown, NY 11787-2892

    View on Map
    • Investment properties
    • 4,741 SF
    • 0.38 lot acres
    Off-Market
    Last Sale Dec 13, 2021
    $1,000,000
    Property ID
    US63-1731603
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,025,000
    Show details
    Cap Rate Potential
    7.8%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Greshin, Ziegler & Amicizia, PC / Law Firm
    • The Law Office of Filiberto Flood, PLLC / Law Firm
    • Kanter Norman PHD / Physician / Medical Clinic
    • American College Savers / High School
    • Petracca Design & Engineering / Engineer

    Property Details for 199 Main St

    Year built
    1986
    Lot size
    0.38 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    0803-002.00-01.00-003.000
    APU
    803002000100003000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 13, 2021 $1,000,000 Tma Realty LLC Irm Plaza LLC Deed —
    Jun 14, 2017 $100 Irm Plaza LLC Referee Of Suffolk County|ziegler,joel & Betsy Trustees Deed · related —
    Jun 30, 2011 $312,500 Joel J Ziegler Pruzansky,joshua M Grant Deed —
    — — Joel J Ziegler — Deed Of Trust · related $780k · Summit Capital Partners
    — — Joel J Ziegler — Deed Of Trust · related $1.3M · Bil-man Asset Management LLC
    — — Joel Ziegler — Deed Of Trust · related $1.8M · Woodbridge Mtg Inv Fund 2 LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,050,000
      ML approach
      $1,045,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,365,000
      6.5%
      $1,260,000
      7%
      $1,170,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,145,000
      Market price range: $950k - $2.19M
      AI Estimate
      $659,000
      Market price range: $499k - $1.05M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,425,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Smithtown
    County
    Suffolk
    State
    New York
    Longitude
    -73.1856
    Latitude
    40.8565
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $1,500
    $7,300
    $8,800
    -
    $1,724
    $8,391
    $10,115

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      0.38 Acres

      1 Annette Ave

      OFFICE/RESIDENTIAL (MIXED USE)
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      15 Bellemeade Ave

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      0.06 Acres

      120 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      120 Main St, Smithtown, NY 11787-2605
      View Details
    • Value Estimation by Request
      0.22 Acres

      105 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      105 Main St, Smithtown, NY 11787-2858
      View Details
    • Value Estimation by Request
      0.06 Acres

      35 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      35 Main St, Smithtown, NY 11787-2624
      View Details

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      Vacant Land Near Amenities

      Available vacant land in Smithtown, New York.
      Vl Highland St, Smithtown, NY 11787
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      Commercial Building For Sale

      Commercial building suitable for retail, kitchen, food production, manufacturing.
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    Similar Nearby for Lease

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      Retail Space in Branch Plaza

      Retail space for lease in Smithtown, New York.
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      800 SF

      Retail Space on Main Street

      Retail space for lease with dedicated parking.
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      View Details
    • $25 SF/Yr

      High-Visibility Corner Retail Space

      Prime corner positioning with private rear parking and strong visibility near the train station.
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      View Details
    • $3,000 /Mo

      Smithtown Office Space for Rent

      Office space in Smithtown's desirable business district.
      14 Bellemeade Ave, Smithtown, NY 11787
      View Details
    • Contact for pricing
      9,000 SF

      Adaptable Office Space For Rent

      Office space with adaptable floor plans and ample parking.
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    Smithtown, NY 11787-2892
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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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