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199 E Main St 4,741 SF Vacant Office Building Smithtown, NY 11787 $1,350,000 ($284.75/SF) 6.60% Cap Rate
Executive Summary
4,741 SF Class B office building on Smithtown's East Main Street corridor. Three stories of leasable office space on a 0.38-acre lot with 20 parking spaces. Built in 1844, extended in 1980.
Fully occupied and generating income from day one. Recent capital improvements include a new roof, new windows, new gutters, gas conversion (from oil), new boiler and hot water tank, two of three new condensers, and a new mini-split HVAC system. The major work is done — a buyer steps in with stable in-place income and minimal near-term capital exposure.
Strong 1031 exchange candidate or straightforward cash-flow investment in one of Suffolk County's most established office corridors.
Highlights:
100% leased — turnkey income
4,741 SF | 3 stories | 20-space parking lot
Major capex recently completed
East Main Street frontage, Smithtown
Priced at $285/SF
Fully occupied and generating income from day one. Recent capital improvements include a new roof, new windows, new gutters, gas conversion (from oil), new boiler and hot water tank, two of three new condensers, and a new mini-split HVAC system. The major work is done — a buyer steps in with stable in-place income and minimal near-term capital exposure.
Strong 1031 exchange candidate or straightforward cash-flow investment in one of Suffolk County's most established office corridors.
Highlights:
100% leased — turnkey income
4,741 SF | 3 stories | 20-space parking lot
Major capex recently completed
East Main Street frontage, Smithtown
Priced at $285/SF
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
4,741 SF
Building Class
B
Year Built/Renovated
1844/1980
Price
$1,350,000
Price Per SF
$284.75
Cap Rate
6.60%
NOI
$89,100
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,580 SF
Slab To Slab
10’
Building FAR
0.29
Lot Size
0.38 AC
Parking
20 Spaces (4.22 Spaces per 1,000 SF Leased)
Amenities
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 0803-002-00-01-00-003-000 | Improvements Assessment | $7,300 |
| Land Assessment | $1,500 | Total Assessment | $8,800 |
Property Taxes
Parcel Number
0803-002-00-01-00-003-000
Land Assessment
$1,500
Improvements Assessment
$7,300
Total Assessment
$8,800
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