Renovated Flex
New
For Sale
Contact for pricing
144 Rome Street, Farmingdale, NY 11735
Commercial facility combines office and warehouse areas with updated systems, drive-in access, and generator-backed building power.
Property Size7,533 SF
Lot Size0.44 Acres
Price / SF$365.06
Days on Market6
Property Features for 144 Rome Street
General Information
Standard status
Active
Size
7,533 SF
Lot size
0.44 Acres
Property subtype
Industrial
Property Condition
Severity
Major Repairs Needed
Evidence
Completely Renovated
Warehouse & Industrial
Clear Height
12 ft
Office Build-Out
3,767 SF
Drive-In Doors
1
Power
400 amps
Additional Details
Utilities to Site
Yes
Building Details
Year Renovated
2017
Listing Agency:
Industry One Realty Corporation
Listed By:
Mario Asaro · License #NY
Source:
Crexi
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 13 at 7:12AM
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 Industry One Realty Corporation
Investment Insights
Based on property information with market context.
Located at 144 Rome Street in Farmingdale, NY 11735, this flex property provides +/- 7,533 SF on 19,000 SF of land. Approximately half of the building is configured as office space, with the balance serving as warehouse area. The interior includes a 12–13-foot ceiling, one drive-in door, and only two columns across the warehouse area.
The building underwent a comprehensive renovation in 2017, including a new roof, windows, doors, roll-up door, HVAC, and electrical systems. Additional infrastructure includes a 400-amp electrical service, full-building power generator, and sewer connection. The property is described as a clean warehouse facility with functional office and industrial components.
The building underwent a comprehensive renovation in 2017, including a new roof, windows, doors, roll-up door, HVAC, and electrical systems. Additional infrastructure includes a 400-amp electrical service, full-building power generator, and sewer connection. The property is described as a clean warehouse facility with functional office and industrial components.
Key Highlights
- +/- 7,533sf on 19,000sf of Land
- 50% office configuration with warehouse space
- Completely renovated in 2017
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
$130,909
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
4.76%
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%
$2,618,180
$2.6M
Cap Rate 7%
$1,870,129
$1.9M
Cap Rate 9%
$1,454,544
$1.5M
Market Conditions
NOI Build-Up for 7,533 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
$165.4K $21.96/SF
− Vacancy
−$11.4K −$1.52/SF
EGI
$154.0K $20.44/SF
− OpEx
−$23.1K −$3.07/SF
NOI
$130.9K $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /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%
$2,618,180
Cap Rate 7%
$1,870,129
Cap Rate 9%
$1,454,544
Alternative Uses
Best Use
Warehouse
$1.87M
$1.64M – $2.18M
NOI $130,909 @ 7.0% cap · market cap 4.76%
Second Best
Industrial
$1.54M
$1.35M – $1.80M
NOI $107,807 @ 7.0% cap · market cap 3.92%
Theoretical Best
Specialty Retail
$4.98M
$4.36M – $5.81M
NOI $348,646 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11735, NY
32,989
Population
11,435
Households
2.9
Avg Household Size
42
Median Age
45%
College-Educated
92%
High-School Grad
10.7 sq mi
ZIP Area
3,083
Density / Sq Mi
$146,190
Median Household Income
$64,273
Median Earnings
$2,285
Median Rent
$572,000
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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Similar Off Market Nearby
- Felico's Catering — 85 Allen Blvd, Farmingdale, NY 11735
Frequently Asked Questions
What type of property is this?
Flex space - Commercial facility combines office and warehouse areas with updated systems, drive-in access, and generator-backed building power.
Where is this flex space located?
The property is located at 144 Rome Street Farmingdale, NY.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: +/- 7,533sf on 19,000sf of Land; 50% office configuration with warehouse space; Completely renovated in 2017
