Multi-Unit Warehouse Flex
289 Suburban Avenue Deer Park, NY 11729
289 Suburban Avenue, Deer Park, NY, 11729
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For Sale
Contact for pricing
Multi-unit warehouse with drive-in access and gas heating, with options to deliver fully rented or partially vacant.
Property Size14,200 SF
Lot Size0.84 Acres
Price / SF$246.48
Days on Market78
Property Features for 289 Suburban Avenue
General Information
- Standard status
- Active
- Size
- 14,200 SF
- Lot size
- 0.84 Acres
- Property subtype
- Industrial
Listing agency
Industry One Realty Corporation
Listed by
Mario Asaro · License #NY
Source
Crexi
Added: May 6 Updated: Jul 22 at 12:06AM Checked: Jul 22 at 12:06AM
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 Industry One Realty Corporation
Investment Insights
Based on property information with market context.
This multi-unit warehouse and flex property offers approximately 14,200 square feet across seven units on about 0.84 acres. The building’s front two units are identified as a 3,500-square-foot mostly office space and a 2,600-square-foot wide open storage space, with the remaining units described as having roughly 10% to 15% office. Each unit has an 8-by-10-foot drive-in door. Unit sizes listed include 3,500sf, 2,600sf, 1,900sf, 1,300sf, 1,300sf, 1,600sf, and 2,000sf.
The seller notes that the property can be delivered fully rented or with any space vacated as needed, and it can also be delivered vacant or with tenants in place. For building systems and exterior improvements, the property includes gas heating, all new outdoor lighting installed in 2020, and a roof replacement completed in 2013.
The seller notes that the property can be delivered fully rented or with any space vacated as needed, and it can also be delivered vacant or with tenants in place. For building systems and exterior improvements, the property includes gas heating, all new outdoor lighting installed in 2020, and a roof replacement completed in 2013.
Key Highlights
- +/- 14,200 SF multi‑unit warehouse on 0.84 acres with 7 units
- Each unit has an 8x10 ft drive‑in door for loading and access
- Units can be delivered fully rented or with space vacated as needed (can also be delivered vacant or with tenants)
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $272.6k | $19.20 |
| − Vacancy | −$16.6k | −$1.17 |
| EGI | $256.0k | $18.03 |
| − OpEx | −$38.4k | −$2.70 |
| NOI | $217.6k | $15.32 |
14,200 SF · lease $19.20/SF/yr · vacancy 6.10% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$3.11M
$2.72M – $3.63M
NOI $217,608 @ 7.0% cap · market cap 6.22%
Second Best
Industrial
$2.88M
$2.52M – $3.36M
NOI $201,607 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $302,819 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Northeast Electrical Contractors ...
General Contractor
Senior Marketing Group
Advertising Agency
Suburban Screw Machine ...
Auto Repair Shop
Elite Wall Systems ...
Hardware & Home Improvement
EAS Plumbing Inc
Plumbing Service
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FAQs
What type of property is this?
Flex space - Multi-unit warehouse with drive-in access and gas heating, with options to deliver fully rented or partially vacant.
Where is this flex space located?
The property is located at 289 Suburban Avenue Deer Park, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: +/- 14,200 SF multi‑unit warehouse on 0.84 acres with 7 units; Each unit has an 8x10 ft drive‑in door for loading and access; Units can be delivered fully rented or with space vacated as needed (can also be delivered vacant or with tenants)
