Multi-Use Property with Attached
For Sale
$685,000
10 Hunter Ave, Miller Place, NY 11764
Versatile property with dental practice and attached apartment.
Property Size2,500 SF
Lot Size0.52 Acres
Days on Market164
Property Features for 10 Hunter Ave
General Information
Standard status
Active
Size
2,500 SF
Lot size
0.52 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,154
Building Details
Building Size
2,500 SF
Year Built
1974
Listing Agency:
Howard Hanna | Coach Realtors
(631) 767-2830
Listed By:
Melissa Roger
(631) 767-2830
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 20 at 11:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna | Coach Realtors
Investment Insights
Based on property information with market context.
This multi-use property, situated on a quiet block, is currently configured as a dental practice. The property includes an attached apartment featuring 2 or more bedrooms. The layout includes a grand foyer and a waiting area. Ample parking is available with a large circular driveway. The property is suitable for any medical field or other business ventures, offering investment potential in a prime location.
Key Highlights
- Multi‑use property, ideal for a medical practice or various business ventures.
- Attached apartment featuring 2+ bedrooms, perfect for convenience or generating rental income.
- Ample parking provided by a large circular driveway.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,431
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$888,620
$888.6K
Cap Rate 7%
$634,729
$634.7K
Cap Rate 9%
$493,678
$493.7K
Market Conditions
NOI Build-Up for 2,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$86.4K $34.56/SF
− Vacancy
−$5.6K −$2.25/SF
EGI
$80.8K $32.31/SF
− OpEx
−$36.4K −$14.54/SF
NOI
$44.4K $17.77/SF
Area
Suffolk County, NY
Vacancy
6.50%
Lease Rate
$34.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$888,620
Cap Rate 7%
$634,729
Cap Rate 9%
$493,678
Alternative Uses
Best Use
Apartment 5plus
$634.7K
$555.4K – $740.5K
NOI $44,431 @ 7.0% cap · market cap 6.49%
Second Best
Office B
$614.1K
$537.4K – $716.5K
NOI $42,989 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$761.6K
$666.4K – $888.6K
NOI $53,313 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11764, NY
12,566
Population
4,605
Households
2.7
Avg Household Size
43
Median Age
48%
College-Educated
94%
High-School Grad
9.2 sq mi
ZIP Area
1,366
Density / Sq Mi
$142,344
Median Household Income
$62,823
Median Earnings
$1,221
Median Rent
$589,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Versatile property with dental practice and attached apartment.
Where is this medical office space located?
The property is located at 10 Hunter Ave Miller Place, NY.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Multi‑use property, ideal for a medical practice or various business ventures.; Attached apartment featuring 2+ bedrooms, perfect for convenience or generating rental income.; Ample parking provided by a large circular driveway.
