Building Details

Building Size 812 SF

Year Built 1970

Listing Agency: Signature Premier Properties c***@signaturepremier.com Show Phone

Listed By: Joseph Albino · License #30ME0893215 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 8 Last Checked: Aug 20 at 11:29AM

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Investment Insights

Based on property information with market context.

This updated co-op features an open concept layout suitable for modern lifestyles. The bright living space flows into the dining area and living room, creating an environment for entertaining and everyday comfort. The community provides amenities including a pool, clubhouse, and a fitness room. The property is located near shopping, dining, and transportation.

Key Highlights

• Updated, deluxe‑size co‑op with open concept layout.
• Resort‑style living with pool, clubhouse, and fitness room.
• Convenient location near shopping, dining, and transportation.

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

$12,527

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

5.13%

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%

$250,540 $250.5K

Cap Rate 7%

$178,957 $179.0K

Cap Rate 9%

$139,189 $139.2K

Market Conditions

NOI Build-Up for 812 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

$24.4K $30.00/SF

− Vacancy

−$1.6K −$1.95/SF

EGI

$22.8K $28.05/SF

− OpEx

−$10.2K −$12.62/SF

NOI

$12.5K $15.43/SF

Area

ZIP 11751

Vacancy

6.50%

Lease Rate

$30.00 /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%

$250,540

Cap Rate 7%

$178,957

Cap Rate 9%

$139,189

Alternative Uses

Best Use

Apartment 5plus

$179.0K

$156.6K – $208.8K (±1% cap)

NOI $12,527 @ 7.0% cap · market cap 5.13%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$260.1K

$227.6K – $303.5K (±1% cap)

NOI $18,210 @ 7.0% cap · market cap 7.46%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Location Intelligence

Trade Area within ½ mile

440

Businesses Nearby

Explore this area Business Placement

Demographics for 11751, NY

14,790

Population

5,246

Households

2.8

Avg Household Size

43

Median Age

36%

College-Educated

88%

High-School Grad

4.0 sq mi

ZIP Area

3,698

Density / Sq Mi

$116,328

Median Household Income

$59,558

Median Earnings

$2,238

Median Rent

$501,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Updated co-op with amenities near shopping, dining, and transportation.

Where is this apartment building located?

The property is located at 2449 B #16 A Union Blvd 16A Islip Manor, NY.

What is the asking price?

The asking price for this property is $244,000.

What are key features of this property?

This property features: Updated, deluxe‑size co‑op with open concept layout.; Resort‑style living with pool, clubhouse, and fitness room.; Convenient location near shopping, dining, and transportation.