Fully Sprinklered Flex
For Sale
Contact for pricing
50 Orville Dr, Bohemia, NY 11716
Fully sprinklered flex warehouse offering three rental units and 86 parking spaces on a 1.64-acre plot.
Property Size28,066 SF
Price / SF$235
Days on Market549
Property Features for 50 Orville Dr
General Information
Standard status
Active
Size
28,066 SF
Property subtype
INDUSTRIAL
Listing Agency:
Rechler Equity Partners
(631) 414-8400
Listed By:
Ted Trias
(516) 848-2773
Source:
Moodyscre
Added: Mar 15, 2025
Changed: Sep 7
Last Checked: Sep 13 at 4:14AM
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 Rechler Equity Partners
Investment Insights
Based on property information with market context.
This fully sprinklered flex warehouse features a 12'-7" height under steel and is fully air conditioned. The property is configured as three rental units totaling 28,066 square feet: 6,566 SF, 7,500 SF, and 14,000 SF, providing multiple income streams within one building.
The site includes 86 parking spaces and sits on a 1.64-acre plot. Located at 50 Orville Dr, Bohemia, NY 11716, the property is presented for sale with real estate taxes for 2024/2025 reported at $68,685.75 ($2.45 PSF).
The site includes 86 parking spaces and sits on a 1.64-acre plot. Located at 50 Orville Dr, Bohemia, NY 11716, the property is presented for sale with real estate taxes for 2024/2025 reported at $68,685.75 ($2.45 PSF).
Key Highlights
- Fully sprinklered flex warehouse with three rental units totaling 6,566 SF, 7,500 SF, and 14,000 SF
- 86 parking spaces available on a 1.64‑acre plot
- Fully air conditioned interior
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
$430,097
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
6.52%
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%
$8,601,940
$8.6M
Cap Rate 7%
$6,144,243
$6.1M
Cap Rate 9%
$4,778,856
$4.8M
Market Conditions
NOI Build-Up for 28,066 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
$538.9K $19.20/SF
− Vacancy
−$32.9K −$1.17/SF
EGI
$506.0K $18.03/SF
− OpEx
−$75.9K −$2.70/SF
NOI
$430.1K $15.32/SF
Area
Suffolk County, NY
Vacancy
6.10%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
15.00%
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%
$8,601,940
Cap Rate 7%
$6,144,243
Cap Rate 9%
$4,778,856
Alternative Uses
Best Use
Warehouse
$6.14M
$5.38M – $7.17M
NOI $430,097 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.55M
$7.48M – $9.98M
NOI $598,514 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,721
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11716, NY
10,315
Population
3,535
Households
2.9
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
8.6 sq mi
ZIP Area
1,199
Density / Sq Mi
$120,344
Median Household Income
$54,556
Median Earnings
$2,425
Median Rent
$508,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully sprinklered flex warehouse offering three rental units and 86 parking spaces on a 1.64-acre plot.
Where is this warehouse located?
The property is located at 50 Orville Dr Bohemia, NY.
What is the asking price?
The asking price for this property is $6,595,510.
What are key features of this property?
This property features: Fully sprinklered flex warehouse with three rental units totaling 6,566 SF, 7,500 SF, and 14,000 SF; 86 parking spaces available on a 1.64‑acre plot; Fully air conditioned interior
