Warehouse Building with Freight
For Sale
Contact for pricing
22-42 Sprague Ave, Amityville, NY 11701
Warehouse with freight elevator, sprinklers, and a loading dock leveler, with visibility from Route 110.
Property Size48,355 SF
Price / SF$248.16
Days on Market53
Property Features for 22-42 Sprague Ave
General Information
Standard status
Active
Size
48,355 SF
Property subtype
INDUSTRIAL
Listing Agency:
Metro Realty Services LLC
(631) 770-0700
Listed By:
Anthony Garistina
Source:
Moodyscre
Added: Jul 24
Changed: Sep 5
Last Checked: Sep 13 at 9:59AM
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 Metro Realty Services LLC
Investment Insights
Based on property information with market context.
Warehouse building at 22-42 Sprague Ave, Amityville, NY 11701 offering approximately 48,355 SF. The space includes a freight elevator, sprinklers, and a leveler on the loading dock to support efficient loading and material handling.
The property is visible from Route 110. An additional 7,000 SF lot can be made available for parking or storage, depending on operational needs.
The seller will consider leasing the entire building, providing a straightforward option for tenants seeking a single-tenant warehouse configuration rather than multiple smaller spaces.
The property is visible from Route 110. An additional 7,000 SF lot can be made available for parking or storage, depending on operational needs.
The seller will consider leasing the entire building, providing a straightforward option for tenants seeking a single-tenant warehouse configuration rather than multiple smaller spaces.
Key Highlights
- Approximately 48,355 SF warehouse building with freight elevator
- Sprinklers and a leveler on the loading dock
- Visible from Route 110
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
$741,015
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
6.18%
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%
$14,820,300
$14.8M
Cap Rate 7%
$10,585,929
$10.6M
Cap Rate 9%
$8,233,500
$8.2M
Market Conditions
NOI Build-Up for 48,355 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
$928.4K $19.20/SF
− Vacancy
−$56.6K −$1.17/SF
EGI
$871.8K $18.03/SF
− OpEx
−$130.8K −$2.70/SF
NOI
$741.0K $15.32/SF
Area
Suffolk County, NY
Vacancy
6.10%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
15.00%
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%
$14,820,300
Cap Rate 7%
$10,585,929
Cap Rate 9%
$8,233,500
Alternative Uses
Best Use
Warehouse
$10.59M
$9.26M – $12.35M
NOI $741,015 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.73M
$12.89M – $17.19M
NOI $1,031,182 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,305
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 11701, NY
27,831
Population
9,544
Households
2.9
Avg Household Size
41
Median Age
31%
College-Educated
87%
High-School Grad
4.6 sq mi
ZIP Area
6,050
Density / Sq Mi
$110,639
Median Household Income
$48,080
Median Earnings
$2,307
Median Rent
$489,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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- Lauren Storage Units — 238 Broadway, Amityville, NY 11701
- Extra Space Storage — 24 Sterling Pl, Amityville, NY 11701
- Omega Self Storage — 491 Broadway, Amityville, NY 11701
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with freight elevator, sprinklers, and a loading dock leveler, with visibility from Route 110.
Where is this warehouse located?
The property is located at 22-42 Sprague Ave Amityville, NY.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Approximately 48,355 SF warehouse building with freight elevator; Sprinklers and a leveler on the loading dock; Visible from Route 110
