Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1507 Smithtown Ave Bohemia, NY 11716

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $16 SF/Yr

    Industrial unit in Bohemia, NY, with flexible floor plan.

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Michael Corsello
    Michael Corsello
    Source: Naiglobal

    Listing Agency: NAI Long Island Listing Agent: Michael Corsello

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

    Learn more

    Overview

    Bohemia Industrial Unit For Sale

    The industrial unit at 1507 Smithtown Avenue is located just off Lakeland Avenue, offering proximity to Sunrise Highway and the Long Island Expressway. The property features a spacious and flexible floor plan. Ample parking is available for tenants and guests. The building is well-maintained. Energy-efficient HVAC and lighting systems are in place. On-site property management and maintenance services are provided. The property has a size of 40000 square feet.
    Location Intelligence

    Current Use by Public Records

    The Titan Group Production Facility CrossFit South Shore Gym & Fitness Center rapidconstmgnt Association / Organization Dash Of Class Platinum ... Wedding Service Aerodyne Controls Transportation Infrastructure

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Bohemia
    County
    Suffolk
    State
    New York
    Longitude
    -73.109292
    Latitude
    40.780572

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      Bohemia

      Discover many ways to work your way in 445 Park Avenue
      80 Orville Dr, Bohemia, NY 11716
      View Details
    • $500 /Mo

      Renovated Office Suites Near Airport

      Private, renovated office suites with shared amenities, convenient location.
      608 Johnson Ave, Bohemia, NY 11716
      View Details
    • $500 /Mo

      Renovated Office Suites Near Airport

      Private, renovated office suites with shared amenities near MacArthur Airport.
      608 Johnson Ave, Bohemia, NY 11716
      View Details
    • Contact for pricing

      Versatile Warehouse and Office Space

      5,000 SF warehouse and office space with parking.
      1565 Sycamore Ave, Bohemia, NY 11716
      View Details
    • Contact for pricing
      4,114 SF

      Office Space Near MacArthur Airport

      Office space for rent near MacArthur Airport, Long Island.
      640 Johnson Ave, Bohemia, NY 11716
      View Details
    • Contact for pricing
      5,666 SF

      Bohemia Office Space for Rent

      Office space available in Bohemia, New York with on-site management.
      620 Johnson Ave, Bohemia, NY 11716
      View Details
    • Contact for pricing
      3,700 SF

      Prime Medical/Office Space Available

      High-visibility medical/office space near major transportation routes.
      3460 Veterans Memorial Hwy, Bohemia, NY 11716
      View Details
    • Contact for pricing
      2,500 SF

      Office and Warehouse Space Available

      Office and warehouse space available for lease in Bohemia, NY.
      125 Wilbur Pl, Bohemia, NY 11716
      View Details
    • Contact for pricing
      4,580 SF

      Retail Space on Sunrise Highway

      Retail property with ample parking and high-volume retail neighbors.
      4600 Sunrise Hwy, Bohemia, NY 11716
      View Details
    • Contact for pricing
      7,500 SF

      Bohemia Warehouse with Office Space

      8,510 SF warehouse with 2,000 SF office space.
      120 Wilbur Pl, Bohemia, NY 11716
      View Details
    • $30 SF/Yr
      3,392 SF

      Bohemia Executive Office Suites

      1,650 SF Available, Suffolk County
      1268-1276 Smithtown Ave, Bohemia, NY 11716
      View Details
    • $16 SF/Yr
      40,000 SF

      Bohemia Warehouse: 40,000 SF

      Prime Suffolk County warehouse, 2,140 SF vacant.
      1507 Smithtown Ave, Bohemia, NY 11716
      View Details

    FAQs

    What type of property is this?
    Industrial property - Industrial unit in Bohemia, NY, with flexible floor plan.
    Where is this industrial property located?
    The property is located at 1507 Smithtown Ave Bohemia, NY.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in Bohemia, NY with easy access to Sunrise Highway and the Long Island Expressway.; - Spacious and flexible floor plan suitable for various industrial uses.; - Ample parking available for tenants and guests.
    (516) 840-4448
    Request Owner's contact information
    1507 Smithtown Ave Bohemia, NY 11716
    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.
    1507 Smithtown Ave
    Bohemia, NY 11716
    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
    1507 Smithtown Ave Bohemia, NY 11716
    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
    Michael Corsello
    Michael Corsello
    Real Estate License ID: 10401322792
    (516) 840-4448 (631) 232-4400 (631) 761-9627
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!