Renovated Industrial Warehouse with
For Sale
Contact for pricing
243 Skidmore Rd, Deer Park, NY 11729
23,312 SF Class-A warehouse with modern upgrades.
Property Size23,312 SF
Price / SF$321.51
Days on Market169
Property Features for 243 Skidmore Rd
General Information
Standard status
Active
Size
23,312 SF
Class
A
Property subtype
Retail, Industrial
Building Details
Year Renovated
2023
Stories
2
Listing Agency:
Corcoran
(917) 698-8545
Listed By:
Bryan Ware · License #10301213716
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 17 at 10:27AM
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 Corcoran
Investment Insights
Based on property information with market context.
The property at 243 Skidmore Rd, Deer Park, New York, is a 23,312-square-foot industrial warehouse that has been renovated into a Class-A warehouse. The property features 2,700 square feet of two-story office space. A major renovation in 2023 included the installation of a new high-tech Peaklogix racking system and robotic gathering system for packaging, 48 cameras, high-speed internet, a new sprinkler system, full air conditioning and heat throughout the building, full insulation, LED lighting in the warehouse, an automated intercom system with access card entrance, a full upgrade fire extinguisher system, a new roof, and new electrical panels. The warehouse has tall 22-inch ceilings and includes a dock that accommodates any size truck, a conference room, kitchen, break room, storage room, and reception space. The property is located near the Southern State Parkway, in the middle of Long Island. The surrounding area has a population of over 28,500 within five miles, daytime employment of 31,945, and 15,282 employed in the trade transportation and utilities or manufacturing industries. The average household income within a five-mile radius is $125,753.
Key Highlights
- Class‑A warehouse conversion featuring 2,700 sq ft of two‑story office space.
- Major 2023 renovation: new roof, electrical panels, sprinkler system, full insulation, full A/C and Heat, LED lighting, and upgraded fire extinguisher system.
- High‑tech Peaklogix racking system and robotic gathering system.
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
$400,859
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
5.35%
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%
$8,017,180
$8.0M
Cap Rate 7%
$5,726,557
$5.7M
Cap Rate 9%
$4,453,989
$4.5M
Market Conditions
NOI Build-Up for 23,312 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
$651.8K $27.96/SF
− Vacancy
−$117.3K −$5.03/SF
EGI
$534.5K $22.93/SF
− OpEx
−$133.6K −$5.73/SF
NOI
$400.9K $17.20/SF
Area
Suffolk County, NY
Vacancy
18.00%
Lease Rate
$27.96 /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%
$8,017,180
Cap Rate 7%
$5,726,557
Cap Rate 9%
$4,453,989
Alternative Uses
Best Use
Office B
$5.73M
$5.01M – $6.68M
NOI $400,859 @ 7.0% cap · market cap 5.35%
Second Best
Warehouse
$5.10M
$4.47M – $5.95M
NOI $357,244 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$7.10M
$6.21M – $8.29M
NOI $497,134 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 11729, NY
28,569
Population
9,104
Households
3.1
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
4,608
Density / Sq Mi
$138,350
Median Household Income
$60,089
Median Earnings
$1,889
Median Rent
$496,100
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.
Similar Off Market Nearby
- Tell Avenue LLC — 308 Commack Rd, Deer Park, NY 11729
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- Barist Elevator Co — 113 Brook Ave # F, Deer Park, NY 11729, United States
- Life Storage — 715 Grand Blvd, Deer Park, NY 11729
- A-1 Collision Specialists - Deer Park — 20 S Skidmore Rd, Deer Park, NY 11729
Frequently Asked Questions
What type of property is this?
Warehouse - 23,312 SF Class-A warehouse with modern upgrades.
Where is this warehouse located?
The property is located at 243 Skidmore Rd Deer Park, NY.
What is the asking price?
The asking price for this property is $7,495,000.
What are key features of this property?
This property features: Class‑A warehouse conversion featuring 2,700 sq ft of two‑story office space.; Major 2023 renovation: new roof, electrical panels, sprinkler system, full insulation, full A/C and Heat, LED lighting, and upgraded fire extinguisher system.; High‑tech Peaklogix racking system and robotic gathering system.
