Port Jefferson Station Industrial
For Sale
$2,495,000
507 North Bicycle Path, Port Jefferson Station, NY 11776
6,980 SF industrial building with conversion potential.
Property Size7,176 SF
Price / SF$347.69
Days on Market272
Property Features for 507 North Bicycle Path
General Information
Standard status
Active
Size
7,176 SF
Property subtype
Industrial with Medical Pending
Building Details
Building Size
7,176 SF
Year Built
1970
Listing Agency:
NAI Long Island
(516) 840-4448
Listed By:
Michael Corsello · License #10401322792
(516) 840-4448
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 20 at 5:28AM
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 NAI Long Island
Investment Insights
Based on property information with market context.
The property at 507 N. Bicycle Path features 6,980 square feet of industrial and manufacturing space. The building is situated on a 2.51-acre lot and includes 24 parking spaces. The building has a 16' clear ceiling height. Zoned L-1 for industrial use, the property offers flexibility for various uses and potential for expansion or customization. A new sewer line adjoins the property, ready to connect. The current owner has plans before the Town of Brookhaven's Zoning Board to convert the building to medical use. Located in the heart of Port Jefferson Station's NY Route 112 commercial corridor, the property provides convenient access to Nesconset Hwy (NYS Route 347) and Middle Country Road (NYS Route 25). The property will be delivered vacant at closing and presents a strong investment potential in a growing area.
Key Highlights
- Prime location in the heart of Port Jefferson Station's NY Route 112 commercial corridor with easy access to major transportation routes (NYS Route 347 and NYS Route 25).
- Approved plans for conversion to medical use, significantly increasing the property's value and potential.
- 16' clear ceiling height and 6,980 SF industrial/manufacturing building suitable for a variety of uses.
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
$123,394
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
4.95%
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%
$2,467,880
$2.5M
Cap Rate 7%
$1,762,771
$1.8M
Cap Rate 9%
$1,371,044
$1.4M
Market Conditions
NOI Build-Up for 7,176 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
$200.6K $27.96/SF
− Vacancy
−$36.1K −$5.03/SF
EGI
$164.5K $22.93/SF
− OpEx
−$41.1K −$5.73/SF
NOI
$123.4K $17.20/SF
Area
Suffolk County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,467,880
Cap Rate 7%
$1,762,771
Cap Rate 9%
$1,371,044
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.06M
NOI $123,394 @ 7.0% cap · market cap 4.95%
Second Best
Healthcare Medical
$1.64M
$1.43M – $1.91M
NOI $114,772 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,030 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 11776, NY
24,205
Population
8,707
Households
2.8
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
3,409
Density / Sq Mi
$119,480
Median Household Income
$60,398
Median Earnings
$2,220
Median Rent
$462,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 6,980 SF industrial building with conversion potential.
Where is this manufacturing property located?
The property is located at 507 North Bicycle Path Port Jefferson Station, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Prime location in the heart of Port Jefferson Station's NY Route 112 commercial corridor with easy access to major transportation routes (NYS Route 347 and NYS Route 25).; Approved plans for conversion to medical use, significantly increasing the property's value and potential.; 16' clear ceiling height and 6,980 SF industrial/manufacturing building suitable for a variety of uses.
