Two-Level Live-Work
For Sale
$725,000
2163 Sunrise Highway, Islip, NY 11751
Flexible configuration supports residential use or a combined business and residential arrangement.
Property Size2,017 SF
Days on Market52
Property Features for 2163 Sunrise Highway
General Information
Standard status
Active
Size
2,017 SF
Property subtype
Commercial
Zoning
BU1
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$13,637
Building Details
Building Size
2,017 SF
Year Built
2005
Buildings
1
Stories
2
Listing Agency:
Netter Real Estate Inc
(631) 943-0703
Listed By:
Lisa Campbell
(631) 943-0703
Source:
Alexandermadisonhomes
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 28 at 11:30AM
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 Netter Real Estate Inc
Investment Insights
Based on property information with market context.
This two-level live-work property offers a flexible arrangement for residential occupancy or a combined commercial and residential setup. The lower level contains two bedrooms and a full bathroom, while the upper level provides three bedrooms, a kitchen, dining and living areas, and a second full bathroom. The first-floor layout can accommodate a professional or small business use.
Positioned directly on Sunrise Highway at 2163 Sunrise Highway in Islip, the property provides roadside exposure for an operating business. Completed in 2005, the building can be configured around residential needs, business use, or a combination of both.
Positioned directly on Sunrise Highway at 2163 Sunrise Highway in Islip, the property provides roadside exposure for an operating business. Completed in 2005, the building can be configured around residential needs, business use, or a combination of both.
Key Highlights
- Two‑level layout supports residential or combined commercial/residential use
- Lower level includes 2 bedrooms and a full bathroom
- Upper level includes 3 bedrooms, kitchen, dining/living room, and an additional full bath
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
$35,282
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
4.87%
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%
$705,640
$705.6K
Cap Rate 7%
$504,029
$504.0K
Cap Rate 9%
$392,022
$392.0K
Market Conditions
NOI Build-Up for 2,017 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
$54.7K $27.12/SF
− Vacancy
−$7.7K −$3.80/SF
EGI
$47.0K $23.32/SF
− OpEx
−$11.8K −$5.83/SF
NOI
$35.3K $17.49/SF
Area
ZIP 11751
Vacancy
14.00%
Lease Rate
$27.12 /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%
$705,640
Cap Rate 7%
$504,029
Cap Rate 9%
$392,022
Alternative Uses
Best Use
Office B
$504.0K
$441.0K – $588.0K
NOI $35,282 @ 7.0% cap · market cap 4.87%
Second Best
Mixed Use
$397.6K
$347.9K – $463.9K
NOI $27,835 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$646.2K
$565.4K – $753.9K
NOI $45,233 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
251
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Flexible configuration supports residential use or a combined business and residential arrangement.
Where is this live-work space located?
The property is located at 2163 Sunrise Highway Islip, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑level layout supports residential or combined commercial/residential use; Lower level includes 2 bedrooms and a full bathroom; Upper level includes 3 bedrooms, kitchen, dining/living room, and an additional full bath
