Listing Agency: Schuckman Realty Inc. Show Phone

Listed By: Edward Gottlieb · License #30GO0903547

Source: Moodyscre

Added: Dec 13, 2023 Changed: Aug 31 Last Checked: Sep 1 at 8:45PM

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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 Schuckman Realty Inc.

Investment Insights

Based on property information with market context.

This 3,314-square-foot property was formerly operated as a bank branch and includes a multi-lane drive-through configuration. The layout and existing drive-through component provide a defined commercial setup for banking-related occupancy or another use supported by the property’s improvements.

The building is located on Montauk Highway in Oakdale, New York. The site records more than 11,740 vehicles passing the location each day, providing measurable exposure along the corridor. The property also offers on-building branding potential facing the highway.

Key Highlights

• 3,314‑square‑foot former bank branch
• Multi‑lane drive‑through configuration
• Located on Montauk Highway in Oakdale, NY

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

$64,792

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

6.82%

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%

$1,295,840 $1.3M

Cap Rate 7%

$925,600 $925.6K

Cap Rate 9%

$719,911 $719.9K

Market Conditions

NOI Build-Up for 3,314 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

$99.4K $30.00/SF

− Vacancy

−$6.9K −$2.07/SF

EGI

$92.6K $27.93/SF

− OpEx

−$27.8K −$8.38/SF

NOI

$64.8K $19.55/SF

Area

Suffolk County, NY

Vacancy

6.90%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

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%

$1,295,840

Cap Rate 7%

$925,600

Cap Rate 9%

$719,911

Alternative Uses

Best Use

Retail

$925.6K

$809.9K – $1.08M (±1% cap)

NOI $64,792 @ 7.0% cap · market cap 6.82%

Second Best

Specialty Retail

$860.8K

$753.2K – $1.00M (±1% cap)

NOI $60,257 @ 7.0% cap · market cap 6.34%

Theoretical Best

Office A

$1.01M

$883.4K – $1.18M (±1% cap)

NOI $70,672 @ 7.0% cap · market cap 7.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Banks

Suggested Use

Top Pick Law Firm Dental Office Restaurant Pharmacy Real Estate Agency Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

11,740 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

388

Businesses Nearby

12k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 84% Home Improvements & Furnishings 16%

7-Eleven Shops & Services

8,237 visits/mo 0.2 miles

Valero Energy Shops & Services

2,213 visits/mo 0.4 miles

Ace Hardware Home Improvements & Furnishings

1,929 visits/mo 0.1 miles

Demographics for 11769, NY

9,250

Population

3,783

Households

2.4

Avg Household Size

50

Median Age

47%

College-Educated

97%

High-School Grad

4.4 sq mi

ZIP Area

2,102

Density / Sq Mi

$128,419

Median Household Income

$60,175

Median Earnings

$2,344

Median Rent

$585,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this banks 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?

Bank - Former banking facility with a multi-lane drive-through along Montauk Highway.

Where is this bank located?

The property is located at 1336 Montauk Hwy Oakdale, NY.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 3,314‑square‑foot former bank branch; Multi‑lane drive‑through configuration; Located on Montauk Highway in Oakdale, NY