Melville Office Building For
For Sale
$5,200,000
135 Maxess Road, Melville, NY 11747
Office building in Melville Business Corridor with ample parking.
Property Size24,338 SF
Price / SF$213.66
Days on Market149
Property Features for 135 Maxess Road
General Information
Standard status
Active
Size
24,338 SF
Property subtype
Office
Listing Agency:
(631) 370-6052
Listed By:
Paul Leone
(631) 370-6052
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Aug 19 at 5:43AM
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 Paul Leone
Investment Insights
Based on property information with market context.
This commercial property is located in the heart of the Melville Business Corridor, offering convenient access to the Long Island Expressway. The building features a substantial amount of windowed office space or open workspace. Building signage is available. Elevator and ADA access are provided. The property includes a 4:1 parking ratio and covered parking. A new 5.2” R30 Poly ISO roof was installed in 2021 and comes with a 20-year Golden Seal Total System Warranty. A new HVAC system services all three floors. The property has a size of 24,338 square feet.
Key Highlights
- Located in the heart of the Melville Business Corridor, offering a prime business location.
- Seconds from Long Island Expressway, providing exceptional accessibility.
- New HVAC system to service all three floors.
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
$418,502
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
8.05%
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%
$8,370,040
$8.4M
Cap Rate 7%
$5,978,600
$6.0M
Cap Rate 9%
$4,650,022
$4.7M
Market Conditions
NOI Build-Up for 24,338 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
$680.5K $27.96/SF
− Vacancy
−$122.5K −$5.03/SF
EGI
$558.0K $22.93/SF
− OpEx
−$139.5K −$5.73/SF
NOI
$418.5K $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%
$8,370,040
Cap Rate 7%
$5,978,600
Cap Rate 9%
$4,650,022
Alternative Uses
Best Use
Office B
$5.98M
$5.23M – $6.98M
NOI $418,502 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.41M
$6.49M – $8.65M
NOI $519,014 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 11747, NY
20,133
Population
7,871
Households
2.6
Avg Household Size
51
Median Age
62%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,598
Density / Sq Mi
$154,914
Median Household Income
$78,688
Median Earnings
$3,501
Median Rent
$747,900
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?
Office building - Office building in Melville Business Corridor with ample parking.
Where is this office building located?
The property is located at 135 Maxess Road Melville, NY.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Located in the heart of the Melville Business Corridor, offering a prime business location.; Seconds from Long Island Expressway, providing exceptional accessibility.; New HVAC system to service all three floors.
