Character Office Building with
New
For Sale
$858,000
20 Manor Rd, Smithtown, NY 11787
Two-level layout includes private offices, conference space, and on-site parking.
Property Size2,268 SF
Days on Market4
Property Features for 20 Manor Rd
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,754
Building Details
Building Size
2,268 SF
Year Built
1927
Listing Agency:
Daniel Gale Sothebys Intl Rlty
(516) 428-9505
Listed By:
Michael Tucker
(516) 428-9505
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 11:40AM
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 Daniel Gale Sothebys Intl Rlty
Investment Insights
Based on property information with market context.
This converted professional office building provides 2,268 SF across two floors, with a finished basement adding workspace or storage capacity. The first floor includes a conference room, three private offices, and a bathroom, while the second floor adds three more private offices and a second bathroom. The property is delivered vacant and was built in 1927.
Located at 20 Manor Rd in Smithtown, the building is near downtown shops, restaurants, banks, and municipal services, with access to major roadways. On-site parking supports staff and visitors. The existing configuration is suited to medical, legal, financial, and other professional office uses.
Located at 20 Manor Rd in Smithtown, the building is near downtown shops, restaurants, banks, and municipal services, with access to major roadways. On-site parking supports staff and visitors. The existing configuration is suited to medical, legal, financial, and other professional office uses.
Key Highlights
- 2,268 SF converted professional office building delivered vacant
- Six private offices and a conference room across two floors
- Finished basement provides additional workspace or storage
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
$55,725
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
6.49%
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%
$1,114,500
$1.1M
Cap Rate 7%
$796,071
$796.1K
Cap Rate 9%
$619,167
$619.2K
Market Conditions
NOI Build-Up for 2,268 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
$88.5K $39.00/SF
− Vacancy
−$14.2K −$6.24/SF
EGI
$74.3K $32.76/SF
− OpEx
−$18.6K −$8.19/SF
NOI
$55.7K $24.57/SF
Area
Smithtown, NY
Vacancy
16.00%
Lease Rate
$39.00 /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%
$1,114,500
Cap Rate 7%
$796,071
Cap Rate 9%
$619,167
Alternative Uses
Best Use
Office B
$796.1K
$696.6K – $928.8K
NOI $55,725 @ 7.0% cap · market cap 6.49%
Second Best
Healthcare Medical
$647.4K
$566.4K – $755.3K
NOI $45,315 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,304 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,829
Businesses Nearby
Explore this area
Business Placement
Demographics for 11787, NY
35,361
Population
12,147
Households
2.9
Avg Household Size
45
Median Age
51%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
2,373
Density / Sq Mi
$141,505
Median Household Income
$64,248
Median Earnings
$2,349
Median Rent
$642,200
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?
Office building - Two-level layout includes private offices, conference space, and on-site parking.
Where is this office building located?
The property is located at 20 Manor Rd Smithtown, NY.
What is the asking price?
The asking price for this property is $858,000.
What are key features of this property?
This property features: 2,268 SF converted professional office building delivered vacant; Six private offices and a conference room across two floors; Finished basement provides additional workspace or storage
