Babylon Village Office/Medical
For Sale
$1,100,000
Pending
60 Little East Neck Rd, Babylon, NY 11702
Free-standing building in Babylon Village suitable for medical or professional use.
Property Size2,075 SF
Days on Market116
Property Features for 60 Little East Neck Rd
General Information
Standard status
Pending
Size
2,075 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,124
Building Details
Building Size
2,075 SF
Year Built
1977
Stories
2
Listing Agency:
Signature Premier Properties
(631) 673-3700
Listed By:
Georgia Westcott
Source:
Elliman
Added: Apr 24
Changed: Aug 13
Last Checked: Aug 16 at 6:53AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This free-standing building, situated on Main Road (109) in Babylon Village, offers high visibility and ample parking with room for expansion. Located three blocks from the intersection with 27A, it is surrounded by medical and professional buildings and is approximately 10 minutes from Good Samaritan Hospital and 15 minutes from Southside Hospital. The lower level features a handicap ramp, four exam rooms/offices, a large waiting room, and a bathroom; it is currently used as an acupuncture business. The upstairs layout mirrors the lower level and is currently used for office space. The location is suitable for medical, dental, chiropractic, or other professional office spaces. It can also be used as a residential/office space for those who want to live and work at the same address. Main Road offers signage, and the building is set back from the road, creating a quiet environment. A new CAC unit was installed on the first floor in 2024, and a new roof was installed in 2025. The property is near train stations and bus routes. The location has a walk score of 64, indicating it is somewhat walkable, and a bike score of 45, indicating it is somewhat bikeable.
Key Highlights
- High visibility location on Main Rd (109) in Babylon Village
- Ample parking with room for more
- Versatile zoning: Suitable for medical, professional office, or residential/office use
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
$50,198
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
4.56%
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%
$1,003,960
$1.0M
Cap Rate 7%
$717,114
$717.1K
Cap Rate 9%
$557,756
$557.8K
Market Conditions
NOI Build-Up for 2,075 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
$79.7K $38.40/SF
− Vacancy
−$12.7K −$6.14/SF
EGI
$66.9K $32.26/SF
− OpEx
−$16.7K −$8.06/SF
NOI
$50.2K $24.19/SF
Area
Babylon, NY
Vacancy
16.00%
Lease Rate
$38.40 /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%
$1,003,960
Cap Rate 7%
$717,114
Cap Rate 9%
$557,756
Alternative Uses
Best Use
Office B
$717.1K
$627.5K – $836.6K
NOI $50,198 @ 7.0% cap · market cap 4.56%
Second Best
Healthcare Medical
$456.5K
$399.5K – $532.6K
NOI $31,957 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.10M
$963.6K – $1.28M
NOI $77,090 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11702, NY
14,580
Population
5,939
Households
2.5
Avg Household Size
43
Median Age
53%
College-Educated
97%
High-School Grad
11.5 sq mi
ZIP Area
1,268
Density / Sq Mi
$136,711
Median Household Income
$66,898
Median Earnings
$2,369
Median Rent
$598,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Free-standing building in Babylon Village suitable for medical or professional use.
Where is this medical office space located?
The property is located at 60 Little East Neck Rd Babylon, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High visibility location on Main Rd (109) in Babylon Village; Ample parking with room for more; Versatile zoning: Suitable for medical, professional office, or residential/office use
