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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
Alternative Use
Use
Valuation
Residential
$20,031,150
Hospitality
$18,348,426
Educational
$15,265,674
Medical
$15,790,684
Retail
$23,746,604
Location Insight
City
Smithtown
County
Suffolk
State
New York
Latitude
40.8574
Longitude
-73.196
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Learn more
Useful Information
Request 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.
Message sent successfully
Error
Email this Information
Message sent successfully
Error
Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
Sign Up
Already a member?
Just one more step, let’s verify your email
We have sent a verification link to
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.