Building Details

Building Size 2,500 SF

Year Built 1988

Listing Agency: Voro LLC

Listed By: Imtiaz Vesamia Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 23 Last Checked: Oct 4 at 10:42AM

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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 Voro LLC

Investment Insights

Based on property information with market context.

This is a 2500 square foot medical real estate property available for sale. It features a turn-key office suite, previously occupied by a medical practitioner. The ground floor unit provides easy access for patients and customers. The property also offers the potential for expansion with proper permits. In addition to being for sale, the property is also available for NNN lease.

Key Highlights

• 2500 sq ft prime medical real estate
• Turn‑key office ready for medical practitioner
• Ground floor unit for easy access

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

$42,989

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

4.30%

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%

$859,780 $859.8K

Cap Rate 7%

$614,129 $614.1K

Cap Rate 9%

$477,656 $477.7K

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

$69.9K $27.96/SF

− Vacancy

−$12.6K −$5.03/SF

EGI

$57.3K $22.93/SF

− OpEx

−$14.3K −$5.73/SF

NOI

$43.0K $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%

$859,780

Cap Rate 7%

$614,129

Cap Rate 9%

$477,656

Alternative Uses

Best Use

Office B

$614.1K

$537.4K – $716.5K (±1% cap)

NOI $42,989 @ 7.0% cap · market cap 4.30%

Second Best

Healthcare Medical

$571.2K

$499.8K – $666.4K (±1% cap)

NOI $39,985 @ 7.0% cap · market cap 4.00%

Theoretical Best

Office A

$761.6K

$666.4K – $888.6K (±1% cap)

NOI $53,313 @ 7.0% cap · market cap 5.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Medical Office Space

Location Intelligence

Trade Area within ½ mile

621

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 11733, NY

17,967

Population

6,547

Households

2.7

Avg Household Size

46

Median Age

63%

College-Educated

97%

High-School Grad

11.7 sq mi

ZIP Area

1,536

Density / Sq Mi

$174,931

Median Household Income

$76,192

Median Earnings

$2,386

Median Rent

$653,100

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - 2500 SF medical office available for sale or lease.

Where is this medical office space located?

The property is located at 8 Technology Dr 103 Setauket-East Strongs Neck, NY.

What is the asking price?

The asking price for this property is $999,995.

What are key features of this property?

This property features: 2500 sq ft prime medical real estate; Turn‑key office ready for medical practitioner; Ground floor unit for easy access