Multi-Tenant Distribution
For Sale
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241 Skip Lane, Bayshore, NY 11706
IND1-zoned industrial property with a multi-tenant configuration and access to major transportation routes.
Property Size16,587 SF
Lot Size1.38 Acres
Price / SF$346.66
Days on Market9
Property Features for 241 Skip Lane
General Information
Standard status
Active
Size
16,587 SF
Lot size
1.38 Acres
Property subtype
Industrial
Zoning
IND1
Lease Type
Gross
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Tripoint Real Estate
Listed By:
Christopher Cardenas · License #10491213447
Source:
Crexi
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 4:10PM
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 Tripoint Real Estate
Investment Insights
Based on property information with market context.
This industrial distribution property contains approximately 16,587 square feet on a 1.38-acre site. Its multi-tenant configuration supports separate occupancy arrangements and provides flexibility for owner-users, investors, or tenants seeking industrial space. The property carries IND1 zoning and is suited to warehouse, distribution, manufacturing, and service-oriented industrial operations as described in the offering information.
Located in Bay Shore within the Long Island industrial market, the property sits in a logistics and distribution corridor with access to major transportation routes. The site combines an industrial land base with a configuration designed for multiple occupants, making it applicable to a range of commercial industrial requirements.
Located in Bay Shore within the Long Island industrial market, the property sits in a logistics and distribution corridor with access to major transportation routes. The site combines an industrial land base with a configuration designed for multiple occupants, making it applicable to a range of commercial industrial requirements.
Key Highlights
- Approximately 16,587‑square‑foot industrial property
- 1.38‑acre site in Bay Shore, NY
- IND1 zoning
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
$254,187
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
4.42%
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%
$5,083,740
$5.1M
Cap Rate 7%
$3,631,243
$3.6M
Cap Rate 9%
$2,824,300
$2.8M
Market Conditions
NOI Build-Up for 16,587 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
$318.5K $19.20/SF
− Vacancy
−$19.4K −$1.17/SF
EGI
$299.0K $18.03/SF
− OpEx
−$44.9K −$2.70/SF
NOI
$254.2K $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%
$5,083,740
Cap Rate 7%
$3,631,243
Cap Rate 9%
$2,824,300
Alternative Uses
Best Use
Warehouse
$3.63M
$3.18M – $4.24M
NOI $254,187 @ 7.0% cap · market cap 4.42%
Second Best
Industrial
$3.36M
$2.94M – $3.92M
NOI $235,497 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$5.05M
$4.42M – $5.90M
NOI $353,722 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - IND1-zoned industrial property with a multi-tenant configuration and access to major transportation routes.
Where is this distribution center located?
The property is located at 241 Skip Lane Bayshore, NY.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Approximately 16,587‑square‑foot industrial property; 1.38‑acre site in Bay Shore, NY; IND1 zoning
