Harbor Square Mall 134 Main St 15,000 SF 100% Leased Retail Building Port Jefferson, NY 11777 $5,300,000 ($353.33/SF) 6.42% Cap Rate

We are pleased to present the sale of 134 Main Street, a 15,000 square foot, fully stabilized retail property in the heart of Port Jefferson, New York.
This prime property is ideally located in Port Jefferson's vibrant downtown, bordered by Port Jefferson Harbor to the north and the LIRR to the south. The harbor provides access to the Bridgeport/Port Jefferson Ferry, offering a convenient route from Long Island's North Shore to Bridgeport, CT, and New England. To the south, the LIRR Port Jefferson branch offers direct access to Queens and NYC.
The area has undergone significant revitalization in recent years, with numerous mixed-use and residential multi-family developments adding hundreds of new residential units, bolstering the Main Street retail environment. Even more projects are planned for Port Jefferson and its surrounding areas.
The building features 15,000 square feet of meticulously maintained retail space with numerous improvements completed over the last two years, including new tile work, painting, awnings, and signage, as well as a brand-new roof. The property is fully leased to four retail tenants, each with years remaining on their leases, and, in some cases, options to extend. Revenue streams include tenant rent, parking spots, and an observatory camera.
The property benefits from approximately 180 feet of frontage on Main Street and rear frontage on the municipal parking lot. In addition to the benefit of the property being located adjacent to the municipal lot, the sale also includes approximately 20 deeded parking spots for which the Village of Port Jefferson pays an annual fee for the use of. There are also four individual spots dedicated to the owner’s use at his discretion, allowing the owner to assign the spots to tenants or rent them for additional income. A mandated environmental observatory roof camera that monitors smoke stack emissions also generates additional rental income.
In the summer of 2023, the entire building's roof was replaced, eliminating any uncertainty about its integrity and ensuring that the most expensive line item related to building maintenance has been taken care of for many years. Eighteen years remain on a transferable warranty.
Please give us a call if you have any interest or would like to schedule a showing.