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    591 Bicycle Path Port Jefferson Station, NY

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    6,980 SF industrial building with conversion potential in Port Jefferson.

    Type:INDUSTRIAL
    Property size:
    6,980 SF
    Lot size:
    2.51 Acres
    Price / SF:
    $358/SF
    Added:
    Apr 1, 2025
    Days on Market:
    396
    Last Refresh:
    Apr 5 at 10:38 pm

    Property Features for 591 Bicycle Path

    General Information

    Standard status
    Active
    Size
    6,980 SF
    Lot size
    2.51 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Michael Corsello
    Michael Corsello

    Listing agent Michael Corsello License #10401322792

    Listing office NAI Long Island

    Listing date Apr 1, 2025

    Source Moodyscre

    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

    Overview

    Industrial Building Conversion Potential

    This 6,980 SF industrial/manufacturing building is located in Port Jefferson Station. The property is zoned L-1 for industrial use. Plans are currently before the Zoning Board for conversion to medical use. The building features a 16' clear ceiling height and includes 24 existing parking spaces. A sewer line runs along the property line, ready to connect. The location offers proximity to major transportation routes. There is ample space available for manufacturing operations, with potential for expansion or customization. This property presents a strong investment potential in a growing area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cornerstone Components Electronics & Wireless Store Alpha Mini-Storage Storage Facility Long Island Doors ... Interior Design Valentine Heating & AC HVAC Service EZ Gutterz Hardware & Home Improvement

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Jefferson Station
    County
    Suffolk
    State
    New York
    Longitude
    -73.0378
    Latitude
    40.9129

    Nearby Similar for Sale

    • $750,000

      Port Jefferson Station Dental Office

      Move-in-ready dental office with expansion potential in prime location.
      488 Terryville Road, Port Jefferson Station, NY 11776
      View Details
    • $2,495,000
      7,176 SF

      Port Jefferson Station Industrial Building

      6,980 SF industrial building with conversion potential.
      507 North Bicycle Path, Port Jefferson Station, NY 11776
      View Details
    • $1,050,000
      2,975 SF

      Restaurant Site on Route 112

      1.06 acre site with 2,975 SF restaurant.
      513 Route 112, Port Jefferson Station, NY 11776
      View Details
    • $2,281,840
      5,000 SF

      Net-Leased Medical Office Asset

      Single-tenant medical office with predictable cash flow and rent growth.
      492 Old Town Rd, Port Jefferson Station, NY 11776
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 6,980 SF industrial building with conversion potential in Port Jefferson.
    Where is this manufacturing property located?
    The property is located at 591 Bicycle Path Port Jefferson Station, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Prime location in Port Jefferson Station; Sewer line running along property line ready to connect; Plans are before the Zoning Board for conversion to medical use
    (631) 232-4400 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Corsello
    Michael Corsello
    Real Estate License ID: 10401322792
    Learn More
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    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
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