Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2 Corporate Center Dr Melville, NY 11747

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $27 SF/Yr

    270,430 SF office building on 16.1 acres for lease.

    Property size:
    45,144 SF
    Lot size:
    20.20 Acres

    Property Features for 2 Corporate Center Dr

    General Information

    Size
    45,144 SF
    Lot size
    20.20 Acres

    We can help!

    Listing Contact
    Philip D'avanzo
    Philip D'avanzo
    Source: Moodyscre

    Listing Agent: Philip D'avanzo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Melville Office Space Available

    This is a 270,430 square foot office building with gold tinted, reflective glass. Constructed in two stages, the building is situated on a 16.1-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Honeywell Security Security System Supplier East Coast Capital ... Mortgage Lender Michael John Schmid ... Mortgage Lender The Law Office of Eric ... Law Firm Capco Business Capital Financial Consultant

    Suggested Use

    Restaurant Realty agency Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Melville
    County
    Suffolk
    State
    New York
    Longitude
    -73.412422
    Latitude
    40.774745

    Nearby Similar for Lease

    • $599 /Mo
      98,010 SF

      Melville Office Space For Rent

      Cost-effective, centrally located office spaces with flexible sizes available.
      25 Melville Park Rd, Melville, NY 11747
      View Details
    • $1,700 /Mo
      9,148 SF

      Route 110 Commercial Space

      Office or commercial space on Route 110 in Melville.
      807 Walt Whitman Rd, Melville, NY 11747
      View Details
    • $28 SF/Yr
      4,266 SF

      Melville Office Space for Rent

      Interior office suite with new upgrades and ample parking.
      528-532 Broadhollow Rd, Melville, NY 11747
      View Details
    • $4,000 /Mo

      Prime Retail or Office Space

      Newly renovated retail/office space in Melville with high visibility.
      675 Walt Whitman Rd, Melville, NY 11747
      View Details
    • $30 SF/Yr
      13,826 SF

      Furnished Office Suite in Melville

      Furnished office suite with amenities in central Long Island location.
      105 Maxess Rd, Melville, NY 11747
      View Details
    • Contact for pricing
      9,136 SF

      Prime Medical Office Space, Suffolk County

      9,136 SF Medical Office for Lease
      505 Walt Whitman Rd, Melville, NY 11747
      View Details
    • $7 SF/Yr
      6,249 SF

      Melville Office Space Available

      Flexible Offices in Prime Location
      555 Broadhollow Rd, Melville, NY 11747
      View Details
    • Contact for pricing
      8,660 SF

      Melville Retail Center - For Lease

      Prime Melville Shopping Center, 6 Suites Available
      937 Walt Whitman Rd, Melville, NY 11747
      View Details
    • Contact for pricing
      12,285 SF

      Melville Retail Center - For Lease

      Prime Suffolk County Shopping Center Space Available
      901 Walt Whitman Rd, Melville, NY 11747
      View Details
    • $24 SF/Yr
      7,133 SF

      Melville Office Space Available

      Office space in Melville with ample parking and 24/7 security.
      1300 Walt Whitman Rd, Melville, NY 11747
      View Details
    • $29 SF/Yr
      3,298 SF

      Melville Office Space For Rent

      Office space with modern amenities and ample parking available for lease.
      145 Pinelawn Rd, Melville, NY 11747
      View Details
    • $29 SF/Yr
      1,975 SF

      Melville Office Space For Rent

      Office space with modern amenities and ample parking.
      155 Pinelawn Rd, Melville, NY 11747
      View Details

    FAQs

    What type of property is this?
    Office building - 270,430 SF office building on 16.1 acres for lease.
    Where is this office building located?
    The property is located at 2 Corporate Center Dr Melville, NY.
    What is the lease rate?
    The lease rate is $27 SF/Yr.
    What are key features of this property?
    This property features: - 270,430 square foot building; - Situated on 16.1 acres; - Eye-catching gold tinted, reflective glass building
    (631) 425-1200
    Request Owner's contact information
    2 Corporate Center Dr Melville, NY 11747
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2 Corporate Center Dr
    Melville, NY 11747
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2 Corporate Center Dr Melville, NY 11747
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Philip D'avanzo
    Philip D'avanzo
    (631) 425-1200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.