Three-Story Mixed-Use
For Sale
$2,400,000
193 Main St, Islip, NY 11751
BD-zoned property combines open commercial space with upper-level living areas and a fenced site.
Property Size14,000 SF
Lot Size0.50 Acres
Price / SF$171.43
Days on Market20
Property Features for 193 Main St
General Information
Standard status
Active
Size
14,000 SF
Lot size
0.50 Acres
Zoning
BD
Taxes and HOA fees
Annual Taxes
$41,502
Building Details
Buildings
1
Stories
3
Building Size
14,000 SF
Listing Agency:
Eric G Ramsay Jr Assoc LLC
(516) 761-2399
Listed By:
Justin S. Galbraith · License #10401218665
(516) 761-2399
Source:
Exprealty
Added: Jul 29
Changed: Aug 14
Last Checked: Aug 16 at 9:49AM
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 Eric G Ramsay Jr Assoc LLC
Investment Insights
Based on property information with market context.
This three-story mixed-use property contains approximately 14, 000 sq ft on a half-acre lot. The first level provides an open area configured with office space and a bathroom. Upper levels add three bedrooms, a living room, a kitchen, and two full bathrooms, along with a large unfinished attic area on the third floor. The property is zoned BD and enclosed by fencing, supporting a combination of commercial and upper-level uses within one building.
Key Highlights
- Approx. 14, 000 sq ft mixed‑use building
- Half‑acre lot
- BD zoning with many uses
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
$193,200
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
8.05%
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%
$3,864,000
$3.9M
Cap Rate 7%
$2,760,000
$2.8M
Cap Rate 9%
$2,146,667
$2.1M
Market Conditions
NOI Build-Up for 14,000 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
$336.0K $24.00/SF
− Vacancy
−$26.9K −$1.92/SF
EGI
$309.1K $22.08/SF
− OpEx
−$115.9K −$8.28/SF
NOI
$193.2K $13.80/SF
Area
ZIP 11751
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,864,000
Cap Rate 7%
$2,760,000
Cap Rate 9%
$2,146,667
Alternative Uses
Best Use
Office B
$3.50M
$3.06M – $4.08M
NOI $244,894 @ 7.0% cap · market cap 10.20%
Second Best
Mixed Use
$2.76M
$2.42M – $3.22M
NOI $193,200 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$4.49M
$3.92M – $5.23M
NOI $313,961 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 11751, NY
14,790
Population
5,246
Households
2.8
Avg Household Size
43
Median Age
36%
College-Educated
88%
High-School Grad
4.0 sq mi
ZIP Area
3,698
Density / Sq Mi
$116,328
Median Household Income
$59,558
Median Earnings
$2,238
Median Rent
$501,900
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?
Mixed-use property - BD-zoned property combines open commercial space with upper-level living areas and a fenced site.
Where is this mixed-use property located?
The property is located at 193 Main St Islip, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Approx. 14, 000 sq ft mixed‑use building; Half‑acre lot; BD zoning with many uses
