Freestanding Retail Strip in Smithtown, NY

1215 Route 25A, Smithtown, NY

$1,175,000

Price

4.39%

Cap Rate

$51,603

NOI

Gallery
Street
Map
Overview
Cap Rate
4.39%
NOI
$51,603
Pro Forma Cap Rate
5.93%
Building Size
3,600 sqft
Lot Area
32,670 sqft
Occupancy
100%
Class
C
Lease Type
Modified Gross
Year Built
1970
Price Per Sqft
$326.39
Zoning
Commercial
Tenancy
Multiple
Parking Spots
40
Gross Leaseable Area
3600
Investment Strategy
Opportunistic
Description

At this location is a fully-occupied freestanding retail strip with 4 tenants. The property is located on the corner of a signalized intersection and the tenants are currently paying under-market rents. There is ample on-site parking with 40 spaces.

Highlights
  • Freestanding Retail Strip in Smithtown, NY
  • Located on the Corner of a Signalized Intersection
  • 40 On-Site Parking Spaces
  • Tenants are Paying Under Market Rents - Potential for Rental Growth
  • Located Under 2 Miles from the Kings Park Train Station
Documents
Title
Smithtown__1215_Route_25A__Offering_Memorandum__March2024.pdf
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Location
Gallery