Listing Agency: DH Citadel Real Estate LLC d***@deepakhemrajani.com Show Phone

Listed By: Deepak Hemrajani Show Phone

Source: Xome

Added: Aug 24 Changed: Aug 29 Last Checked: Aug 29 at 6:36PM

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Investment Insights

Based on property information with market context.

This 15,000-square-foot flex property combines several practical components within one commercial facility. The layout includes office space, storage areas, and garage facilities, along with on-site parking for operational needs. The configuration can accommodate businesses that require workspace, inventory or equipment storage, and dedicated areas for vehicles or service activities. The property’s mix of enclosed functional spaces and parking supports a range of industrial and service-oriented operations without relying on a single-purpose layout.

Key Highlights

• 15,000‑square‑foot flex property
• Office space, storage areas, and garage facilities
• On‑site parking included

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

$173,771

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

7.90%

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%

$3,475,420 $3.5M

Cap Rate 7%

$2,482,443 $2.5M

Cap Rate 9%

$1,930,789 $1.9M

Market Conditions

NOI Build-Up for 15,000 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

$282.6K $18.84/SF

− Vacancy

−$15.3K −$1.02/SF

EGI

$267.3K $17.82/SF

− OpEx

−$93.6K −$6.24/SF

NOI

$173.8K $11.58/SF

Area

Suffolk County, NY

Vacancy

5.40%

Lease Rate

$18.84 /SF/Yr

Expense Ratio

35.00%

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%

$3,475,420

Cap Rate 7%

$2,482,443

Cap Rate 9%

$1,930,789

Alternative Uses

Best Use

Warehouse

$3.28M

$2.87M – $3.83M (±1% cap)

NOI $229,867 @ 7.0% cap · market cap 10.45%

Second Best

Industrial

$3.04M

$2.66M – $3.55M (±1% cap)

NOI $212,965 @ 7.0% cap · market cap 9.68%

Theoretical Best

Office A

$4.57M

$4.00M – $5.33M (±1% cap)

NOI $319,879 @ 7.0% cap · market cap 14.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Auto Parts Store Real Estate Agency (Bike/Boat/Book/etc) Store Furniture & Home Goods HVAC Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

551

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 11746, NY

69,040

Population

22,528

Households

3.1

Avg Household Size

40

Median Age

50%

College-Educated

90%

High-School Grad

24.1 sq mi

ZIP Area

2,865

Density / Sq Mi

$158,309

Median Household Income

$66,581

Median Earnings

$1,907

Median Rent

$664,900

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Flex space - Functional commercial layout combines office, storage, garage areas, and on-site parking for business operations.

Where is this flex space located?

The property is located at 152 RAILROAD ST Bay Port, NY.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: 15,000‑square‑foot flex property; Office space, storage areas, and garage facilities; On‑site parking included