1502 Main StPort Jefferson Station, NY 11777

Property Details for 1502 Main St

Lot size

0.14 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

0206-021.00-04.00-014.000

APU

206021000400014000

Description

This exceptional investment opportunity presents a 2,000 square foot, single-tenant net-leased storefront located at 1502 Main Street in Port Jefferson Station, NY 11777. The property boasts a strong 5.93% cap rate and a substantial net operating income (NOI) of $50,400, secured by a long-term lease with five years remaining. The tenant is responsible for all operating expenses, minimizing owner responsibilities. The building features a newly paved parking lot (July 2023) with five dedicated spaces, a new roof (2022), and 57 feet of prime frontage on busy Main Street. The property sits on a 0.14-acre lot, is connected to municipal sewers, and currently utilizes oil heat, though gas is available in the street for potential conversion. The C2 zoning allows for a variety of retail uses. This property benefits from the ongoing revitalization of the area, with new housing developments completed and underway, ensuring continued growth and strong tenant demand. The absolute NNN lease structure provides a passive income stream with minimal management requirements. This is an ideal investment for those seeking a stable, high-return retail property in a thriving location. Do not disturb the tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $1,250,145

  6.5%

  $1,153,980

  7%

  $1,071,553

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,234,985

  Geo Method

  $1,234,985

• Alternative Use

  Use

  Valuation

  Residential

  $1,153,980

  Hospitality

  $1,057,040

  Educational

  $879,444

  Medical

  $909,690

  Retail

  $1,368,025

Location Insight

City

Port Jefferson Station

County

Suffolk

State

New York

Latitude

40.9358

Longitude

-73.0564

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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