Two-Story Brick Office
For Sale
$1,600,000
146 Railroad Avenue, Sayville, NY 11782
Three units can support separate occupancies or a consolidated business layout with shared building amenities.
Property Size6,550 SF
Days on Market41
Property Features for 146 Railroad Avenue
General Information
Standard status
Active
Size
6,550 SF
Property subtype
Commercial
Zoning
BD
Taxes and HOA fees
Annual Taxes
$29,002
Building Details
Building Size
6,550 SF
Buildings
1
Stories
2
Units
3
Listing Agency:
Coldwell Banker M&D Good Life
(631) 455-6018
Listed By:
Theodore Gounelas CBR
(631) 455-6018
Source:
Cornerstonemyhome
Added: Jul 22
Changed: Aug 29
Last Checked: Aug 30 at 5:38PM
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 Coldwell Banker M&D Good Life
Investment Insights
Based on property information with market context.
This two-story office property at 146 Railroad Avenue provides approximately 6400 square feet across 2 floors, with 3 units and a basement. The classic red brick construction is complemented by upgraded bathrooms, a modern kitchen, and new solar power. The layout supports separate office occupancies or consolidation under one roof, while BD zoning is identified for the property.
The building is positioned near Main Street and the Sayville train station, with shops and restaurants within close reach. Its setting also provides convenient commuting access for occupants and visitors. The combination of multiple units, supporting amenities, and updated building systems creates a flexible office configuration for an owner-user, multiple occupants, or both.
The building is positioned near Main Street and the Sayville train station, with shops and restaurants within close reach. Its setting also provides convenient commuting access for occupants and visitors. The combination of multiple units, supporting amenities, and updated building systems creates a flexible office configuration for an owner-user, multiple occupants, or both.
Key Highlights
- Approximately 6400 square feet across 2 floors
- 3 units plus basement
- New bathrooms and fully modern kitchen
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
$112,630
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
7.04%
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%
$2,252,600
$2.3M
Cap Rate 7%
$1,609,000
$1.6M
Cap Rate 9%
$1,251,444
$1.3M
Market Conditions
NOI Build-Up for 6,550 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
$183.1K $27.96/SF
− Vacancy
−$33.0K −$5.03/SF
EGI
$150.2K $22.93/SF
− OpEx
−$37.5K −$5.73/SF
NOI
$112.6K $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%
$2,252,600
Cap Rate 7%
$1,609,000
Cap Rate 9%
$1,251,444
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,630 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,680 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,146
Businesses Nearby
Explore this area
Business Placement
Demographics for 11782, NY
15,682
Population
6,680
Households
2.3
Avg Household Size
46
Median Age
55%
College-Educated
95%
High-School Grad
5.6 sq mi
ZIP Area
2,800
Density / Sq Mi
$144,786
Median Household Income
$70,996
Median Earnings
$2,338
Median Rent
$614,300
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 - Three units can support separate occupancies or a consolidated business layout with shared building amenities.
Where is this office building located?
The property is located at 146 Railroad Avenue Sayville, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Approximately 6400 square feet across 2 floors; 3 units plus basement; New bathrooms and fully modern kitchen
