Ground-Floor Medical Office
For Sale
$1,100,000
15 TECHNOLOGY DR Unit 103, East Setauket, NY 11733
Medical office space with direct ground-level access, central air, and on-site parking.
Property Size2,500 SF
Price / SF$440
Days on Market482
Property Features for 15 TECHNOLOGY DR Unit 103
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Office
Additional Details
Floor
Ground Floor
Amenities
Central Air
3
Parking.
100 Parking Spaces. Lot.
Building Details
Year Built
1988
Listing Agency:
Voro LLC
(631) 935-2689
Listed By:
Imtiaz Vesamia
(631) 935-2689
Source:
Xome
Added: May 6, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:51PM
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.
Suite 103 is a 2,500-square-foot medical office unit on the ground floor of a building constructed in 1988. The space was previously used by a medical practitioner and includes central air, providing a ready framework for professional or healthcare-oriented occupancy.
The property is located at 15 Technology Dr in East Setauket, New York. On-site parking is provided, with 100 spaces serving the lot. Direct ground-level access supports convenient entry for patients, customers, and staff.
The property is located at 15 Technology Dr in East Setauket, New York. On-site parking is provided, with 100 spaces serving the lot. Direct ground-level access supports convenient entry for patients, customers, and staff.
Key Highlights
- 2,500‑square‑foot ground‑floor unit at 15 Technology Dr Unit 103
- Previously used by a medical practitioner
- Central air included
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
3.91%
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
NOI $42,989 @ 7.0% cap · market cap 3.91%
Second Best
Healthcare Medical
$571.2K
$499.8K – $666.4K
NOI $39,985 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$761.6K
$666.4K – $888.6K
NOI $53,313 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,380
Businesses Nearby
Under-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
Questions? Ask Rey
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Similar Off Market Nearby
- Just Cats Health Care — 226 N Belle Mead Rd Ste A, Setauket- East Setauket, NY 11733
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space with direct ground-level access, central air, and on-site parking.
Where is this medical office space located?
The property is located at 15 TECHNOLOGY DR Unit 103 East Setauket, 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: 2,500‑square‑foot ground‑floor unit at 15 Technology Dr Unit 103; Previously used by a medical practitioner; Central air included
