Office Building with Private
For Sale
$874,999
147 N Ocean Avenue, Patchogue, NY 11772
SINGLE_FAMILY - Patchogue, NY
Property Size2,700 SF
Lot Size0.36 Acres
Price / SF$324.07
Days on Market47
Property Features for 147 N Ocean Avenue
General Information
Property type
Residential
Property subtype
Office
Rooms
Basement
Basement
Storage Space
Lot features
Historic District
Elementary school
Medford Elementary School
Middle school
South Ocean Middle School
High school
Patchogue-Medford High School
Elementary school district
Patchogue-Medford
Middle school district
Patchogue-Medford
High school district
Patchogue-Medford
Directions
GPS for Location!
Standard status
Active
APN
0204-009-00-03-00-013-000
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14815
Utilities
Sewer type
Cesspool
Heating system
Oil
Water source
Public
Amenities
kitchen/break area
Building Details
Building materials
Advanced Framing Technique
Listing Agency:
Realty Connect USA L I Inc
(631) 881-5160
Listed By:
Stephen King
(631) 624-1159
Added: Jun 26
Changed: Jul 30
Last Checked: Aug 11 at 3:06AM
MLS# 1017181
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
147 N Ocean Avenue is a well-maintained office building offering over 2,700 square feet of professional space configured with approximately 10 private offices, a kitchen/break area, and reception possibilities. The layout includes a flexible component that can support a variety of professional uses, and the building also includes a basement. Heating is provided by oil, with public water and a cesspool sewer system. Construction materials are described as “Advanced Framing Technique.”
The property sits on North Ocean Avenue in the Village of Patchogue, a primary gateway corridor. The listing notes visibility and daily traffic exposure along this route.
A standout amenity is the expansive private parking lot with more than 22 dedicated parking spaces, positioned to serve occupants and visitors. Lot size is 0.36 acres.
The property sits on North Ocean Avenue in the Village of Patchogue, a primary gateway corridor. The listing notes visibility and daily traffic exposure along this route.
A standout amenity is the expansive private parking lot with more than 22 dedicated parking spaces, positioned to serve occupants and visitors. Lot size is 0.36 acres.
Key Highlights
- Over 2,700 SF office space with approximately 10 private offices
- Kitchen/break area plus reception possibilities
- Expansive private parking lot with more than 22 dedicated spaces
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
$46,428
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
5.31%
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%
$928,560
$928.6K
Cap Rate 7%
$663,257
$663.3K
Cap Rate 9%
$515,867
$515.9K
Market Conditions
NOI Build-Up for 2,700 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
$75.5K $27.96/SF
− Vacancy
−$13.6K −$5.03/SF
EGI
$61.9K $22.93/SF
− OpEx
−$15.5K −$5.73/SF
NOI
$46.4K $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%
$928,560
Cap Rate 7%
$663,257
Cap Rate 9%
$515,867
Alternative Uses
Best Use
Office B
$663.3K
$580.4K – $773.8K
NOI $46,428 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.5K
$719.7K – $959.6K
NOI $57,578 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,855
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
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 - Well-maintained office building with multiple private offices, kitchen/break area, and a dedicated private parking lot.
Where is this office building located?
The property is located at 147 N Ocean Avenue Patchogue, NY.
What is the asking price?
The asking price for this property is $874,999.
What are key features of this property?
This property features: Over 2,700 SF office space with approximately 10 private offices; Kitchen/break area plus reception possibilities; Expansive private parking lot with more than 22 dedicated spaces
