Office Building with Private
For Sale
$874,999
147 N Ocean Avenue, Patchogue, NY 11772
Professional layout includes private offices, a kitchen/break area, and adaptable workspace.
Property Size2,250 SF
Days on Market65
Property Features for 147 N Ocean Avenue
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,815
Building Details
Building Size
2,250 SF
Buildings
1
Listing Agency:
Realty Connect USA L I Inc
(631) 624-1159
Listed By:
Stephen King
(631) 624-1159
Source:
Maurafinnegan
Added: Jun 26
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 Realty Connect USA L I Inc
Investment Insights
Based on property information with market context.
This office building at 147 N Ocean Avenue in Patchogue provides over 2,700 square feet of professional workspace. The interior includes approximately 10 private offices, a kitchen/break area, reception possibilities, and a flexible arrangement that can accommodate different office configurations.
A private parking lot provides more than 22 dedicated parking spaces, supporting convenient access for occupants and visitors. The property is positioned along North Ocean Avenue, a primary corridor in the Village of Patchogue, with downtown restaurants, retail, and entertainment nearby.
A private parking lot provides more than 22 dedicated parking spaces, supporting convenient access for occupants and visitors. The property is positioned along North Ocean Avenue, a primary corridor in the Village of Patchogue, with downtown restaurants, retail, and entertainment nearby.
Key Highlights
- Over 2,700 square feet of professional office space
- Approximately 10 private offices with flexible interior configuration
- Kitchen/break area and reception possibilities
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
$38,690
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
4.42%
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%
$773,800
$773.8K
Cap Rate 7%
$552,714
$552.7K
Cap Rate 9%
$429,889
$429.9K
Market Conditions
NOI Build-Up for 2,250 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
$62.9K $27.96/SF
− Vacancy
−$11.3K −$5.03/SF
EGI
$51.6K $22.93/SF
− OpEx
−$12.9K −$5.73/SF
NOI
$38.7K $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%
$773,800
Cap Rate 7%
$552,714
Cap Rate 9%
$429,889
Alternative Uses
Best Use
Office B
$552.7K
$483.6K – $644.8K
NOI $38,690 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$685.5K
$599.8K – $799.7K
NOI $47,982 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Professional layout includes private offices, a kitchen/break area, and adaptable workspace.
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 square feet of professional office space; Approximately 10 private offices with flexible interior configuration; Kitchen/break area and reception possibilities
