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Smithtown Retail

RealINSIGHT Marketplace and Cushman & Wakefield are pleased to present Smithtown Retail. Located in the attractive eastern suburb of New York City, this vacant storefront in the bedroom community of Smithtown presents a considerable opportunity to own a storefront along the main retail hub in Smithtown. Located at 43 East Main Street, the 3,600 SF store is well situated only a short 7-mintue walk from the Smithtown stop on the Long Island Rail Road (“LIRR”).  The building was formerly a bar/lounge and permitted for “wet use” meaning it can serve as an establishment that serves food.  The “wet-use” allows for the new landlord to push rents to above retail market values. 43 East Main provides prospective investors with an excellent value-add/repositioning opportunity at a “main and main” location and in a market with less than 5% vacancy.

INVESTMENT HIGHLIGHTS
Proximity to Smithtown LIRR Station - Approximately a 5-minute walk, the Port Jefferson Branch of the LIRR connects Manhattan (50-miles to the east) and Port Jefferson (9.5 miles to the west).  LIRR carried 89 million riders in 2018.

Excellent Demographics - The Smithtown Retail Storefront is surrounded by a strong affluent population with 65,000 people within a 3-mile radius with average household income of $118,000.

Main Street Retail Location – Located on Smithtown’s main thoroughfare, Main Street and the property is surrounded by both local retailers and other national brands such as Starbucks, CVS and ACE Hardware.

Wet-Use Designation – As a former lounge/bar the Property has a wet-use designation meaning that it can host a restaurant or any food-establishment which will drive up the achievable rents.

Repositioning Opportunity - Given its location next to the LIRR and along Main Street, the Property has tremendous upside potential for a renovate and repositioning play.

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Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Smithtown Retail

43 E Main Street, Smithtown, NY 11787

Asset Snapshot

  • Asset Type
  • Real Estate
  • Land Area
  • 0.00 Acres
  • Number of Floors
  • 2
  • Number of Buildings
  • 1
  • Occupancy
  • 0%
  • Occupancy as of
  • Apr 01, 2019
  • Retail Type
  • NA
  • Anchor
  • No
  • Property Size
  • 3,600 Sq Ft
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Ralph Passono, Jr.

      c/o Fisher Auction Company Inc.

      License: #1

      Co.:10311203946