Second-Floor Medical
For Sale
$250,000
315 MEETING HOUSE LANE, Southampton, NY 11968
COMMERCIAL - Southampton, NY
Property Size761 SF
Price / SF$328.52
Days on Market1074
Property Features for 315 MEETING HOUSE LANE
General Information
Property type
Commercial Sale
Property subtype
Other
High school district
Southampton
Standard status
Active
APN
0904-020.004-0002-001.000
Size
761 SF
Taxes and HOA fees
Tax Annual Amount
1258
HOA Fee
$495 Monthly
Utilities
Sewer type
Septic Tank
Water source
Public
Building Details
Year built
2000
Listing Agency:
William Raveis (Southampton)
(631) 283-5800
Listed By:
Bradford King
(631) 283-5800
Added: Sep 11, 2023
Changed: Aug 14
Last Checked: Aug 19 at 11:06AM
MLS# 11248712
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 761-square-foot medical office space occupies the second floor of a building constructed in 2000. The property is zoned for medical use and can accommodate office applications such as a psychiatric practice, yoga studio, or other medical practice office. Its configuration provides a focused setting for professional operations within Southampton Village.
The property is located at 315 Meeting House Lane in Southampton, directly across from Southampton Hospital. Public water serves the property, with a septic tank providing wastewater service.
The property is located at 315 Meeting House Lane in Southampton, directly across from Southampton Hospital. Public water serves the property, with a septic tank providing wastewater service.
Key Highlights
- 761 SF second‑floor medical office space
- Zoned for medical use
- Built in 2000
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
$13,086
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
5.23%
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%
$261,720
$261.7K
Cap Rate 7%
$186,943
$186.9K
Cap Rate 9%
$145,400
$145.4K
Market Conditions
NOI Build-Up for 761 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
$21.3K $27.96/SF
− Vacancy
−$3.8K −$5.03/SF
EGI
$17.4K $22.93/SF
− OpEx
−$4.4K −$5.73/SF
NOI
$13.1K $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%
$261,720
Cap Rate 7%
$186,943
Cap Rate 9%
$145,400
Alternative Uses
Best Use
Office B
$186.9K
$163.6K – $218.1K
NOI $13,086 @ 7.0% cap · market cap 5.23%
Second Best
Healthcare Medical
$173.9K
$152.1K – $202.9K
NOI $12,171 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$231.8K
$202.9K – $270.5K
NOI $16,229 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11968, NY
14,467
Population
10,444
Households
1.4
Avg Household Size
46
Median Age
61%
College-Educated
98%
High-School Grad
26.9 sq mi
ZIP Area
538
Density / Sq Mi
$146,138
Median Household Income
$64,959
Median Earnings
$2,068
Median Rent
$1,171,100
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.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical-zoned office space in Southampton Village with access to public water and a septic system.
Where is this medical office space located?
The property is located at 315 MEETING HOUSE LANE Southampton, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 761 SF second‑floor medical office space; Zoned for medical use; Built in 2000
