Two-Story Office
New
For Sale
$799,000
146 Medford Ave, Patchogue, NY 11772
Office property with central air, basement space, and attic storage in Patchogue Village.
Property Size1,480 SF
Price / SF$539.86
Days on Market5
Property Features for 146 Medford Ave
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,688
Building Details
Building Size
1,480 SF
Buildings
1
Stories
2
Listed By:
Susan M. Belzak
(631) 758-0557
Source:
Elliman
Added: Sep 19
Last Checked: Sep 22 at 6:36PM
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 Susan M. Belzak
Investment Insights
Based on property information with market context.
This two-story office building contains 1,480 square feet and offers a practical mix of workspace and storage. The property includes a full basement and a large walk-up attic, while central air and a new burner support the building’s mechanical systems. On-site parking is also available.
Located at 146 Medford Ave in Patchogue, NY, the property is positioned for office uses including attorney, accounting, medical office, real estate, and nail or facial salon operations.
Located at 146 Medford Ave in Patchogue, NY, the property is positioned for office uses including attorney, accounting, medical office, real estate, and nail or facial salon operations.
Key Highlights
- 1,480‑square‑foot, two‑story office building
- New burner and central air
- Large walk‑up attic for storage
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
$25,449
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
3.19%
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%
$508,980
$509.0K
Cap Rate 7%
$363,557
$363.6K
Cap Rate 9%
$282,767
$282.8K
Market Conditions
NOI Build-Up for 1,480 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
$41.4K $27.96/SF
− Vacancy
−$7.4K −$5.03/SF
EGI
$33.9K $22.93/SF
− OpEx
−$8.5K −$5.73/SF
NOI
$25.4K $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%
$508,980
Cap Rate 7%
$363,557
Cap Rate 9%
$282,767
Alternative Uses
Best Use
Office B
$363.6K
$318.1K – $424.2K
NOI $25,449 @ 7.0% cap · market cap 3.19%
Second Best
Healthcare Medical
$338.2K
$295.9K – $394.5K
NOI $23,671 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$450.9K
$394.5K – $526.0K
NOI $31,561 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,856
Businesses Nearby
Explore this area
Business Placement
Demographics for 11772, NY
44,459
Population
18,478
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
89%
High-School Grad
16.1 sq mi
ZIP Area
2,761
Density / Sq Mi
$105,246
Median Household Income
$55,170
Median Earnings
$2,015
Median Rent
$450,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with central air, basement space, and attic storage in Patchogue Village.
Where is this office building located?
The property is located at 146 Medford Ave Patchogue, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1,480‑square‑foot, two‑story office building; New burner and central air; Large walk‑up attic for storage
