Corner Medical Office
For Sale
Contact for pricing
180 E Main Street, Islip, NY 11706
Main-floor professional office with exam rooms, reception, waiting areas, private office access, and rear parking.
Property Size1,688 SF
Price / SF$444.31
Days on Market173
Property Features for 180 E Main Street
General Information
Standard status
Active
Size
1,688 SF
Property subtype
Office
Zoning
BD
Additional Details
Floor
Main Floor
HOA Fee
$1,127
Public Transit
Yes
Building Details
Year Built
1989
Buildings
1
Units
6
Listing Agency:
Keller Williams Realty Elite
(516) 729-8931
Listed By:
Lara Barra
Source:
Crexi
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 30 at 9:19AM
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 Keller Williams Realty Elite
Investment Insights
Based on property information with market context.
This 1,688-square-foot medical office suite occupies a main-floor corner position in a building constructed in 1989. The layout includes three exam rooms, two with sinks, along with a kitchen area, accessible guest restroom, staff restroom, reception and work area, multiple waiting areas, and a private office with its own entrance. The property is zoned BD and includes a large parking area behind the building.
The office is situated on E Main Street across from South Shore University Hospital and less than 1 mile from the Bay Shore LIRR train station. Its position within the Main Street business corridor provides access to the surrounding commercial area and nearby transportation. The combination of existing medical rooms, administrative space, separate restrooms, and on-site parking supports a range of professional office configurations.
The office is situated on E Main Street across from South Shore University Hospital and less than 1 mile from the Bay Shore LIRR train station. Its position within the Main Street business corridor provides access to the surrounding commercial area and nearby transportation. The combination of existing medical rooms, administrative space, separate restrooms, and on-site parking supports a range of professional office configurations.
Key Highlights
- 1,688 SF main‑floor corner medical office suite
- Three exam rooms, including two with sinks
- Kitchen area, accessible guest restroom, and separate staff restroom
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
$29,026
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
3.87%
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%
$580,520
$580.5K
Cap Rate 7%
$414,657
$414.7K
Cap Rate 9%
$322,511
$322.5K
Market Conditions
NOI Build-Up for 1,688 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
$47.2K $27.96/SF
− Vacancy
−$8.5K −$5.03/SF
EGI
$38.7K $22.93/SF
− OpEx
−$9.7K −$5.73/SF
NOI
$29.0K $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%
$580,520
Cap Rate 7%
$414,657
Cap Rate 9%
$322,511
Alternative Uses
Best Use
Office B
$414.7K
$362.8K – $483.8K
NOI $29,026 @ 7.0% cap · market cap 3.87%
Second Best
Healthcare Medical
$385.7K
$337.5K – $450.0K
NOI $26,998 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$514.2K
$450.0K – $600.0K
NOI $35,997 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11706, NY
66,263
Population
21,435
Households
3.1
Avg Household Size
37
Median Age
26%
College-Educated
82%
High-School Grad
16.9 sq mi
ZIP Area
3,921
Density / Sq Mi
$115,112
Median Household Income
$44,917
Median Earnings
$1,885
Median Rent
$464,300
Median Home Value
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?
Medical Office Space - Main-floor professional office with exam rooms, reception, waiting areas, private office access, and rear parking.
Where is this medical office space located?
The property is located at 180 E Main Street Islip, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,688 SF main‑floor corner medical office suite; Three exam rooms, including two with sinks; Kitchen area, accessible guest restroom, and separate staff restroom
