200 Landing Ave Smithtown, NY 11787

Property Details for 200 Landing Ave

Lot size

2.43 lot acres

Property type

Commercial real estate

APN

0800-077.00-02.00-025.000

APU

800077000200025000

Description

This exceptional Smithtown, NY redevelopment opportunity presents a 27,500 square foot, Class B office and retail property situated on a 2.43-acre lot at 200 Landing Ave, 11787. Currently featuring a build-to-suit (BTS), 15-year, triple-net (NNN) lease with The Learning Experience occupying 10,000 square feet (36.4% of the gross leasable area), this property offers significant upside potential. The Learning Experience lease provides a corporate guarantee, ensuring strong tenant credit. The property boasts a pro-forma net operating income (NOI) of $900,000, with an asking price of $6,500,000 ($236.37 per square foot). The remaining space presents an ideal opportunity for an owner-user to occupy while collecting rental income from The Learning Experience, or for a developer to complete the build-out for the existing tenant and lease the remaining space at an estimated $25 per square foot NNN. The property's prime location adjacent to the Smithtown Train Station provides excellent visibility and accessibility, benefiting from over 300 parking spaces in the adjacent station lots. The sale includes the option to purchase the property with or without the existing lease agreement. This is a rare chance to acquire a high-performing asset in a desirable location with substantial future growth potential.

Location Insight

City

Smithtown

County

Suffolk

State

New York

Longitude

-73.196

Latitude

40.8574

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments