Building Details

Building Size 2,500 SF

Year Built 1983

Buildings 1

Stories 1

Units 2

Construction stone

Listing Agency: Coldwell Banker American Homes s***@cbamhomes.com Show Phone

Listed By: Bryan J. Karp CBR Show Phone

Source: Clairedleone

Added: Aug 17 Changed: Oct 25 Last Checked: Oct 26 at 3:43AM

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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 Coldwell Banker American Homes

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Investment Insights

Based on property information with market context.

This freestanding, stone-clad office property contains 2,500 square feet arranged as two separate units, with three electric meters and central air conditioning. The updated first-floor space includes recessed lighting, natural light, fresh paint, and two renovated half bathrooms. A separate lower-level unit has a full kitchen, tiled floors, a full bathroom with tub and shower, and its own exterior entrance. Accessible entry and off-street parking are also provided.

The property is in Farmingville, with access to Horseblock Road, Portion Road, North Ocean Avenue, and the Long Island Expressway. Shopping, restaurants, professional services, and established businesses are in the surrounding area. The site is zoned J2; listed zoning allowances include office, bank, day care, florist, lodging, mixed-use business, museum, place of worship, standalone farming, art gallery or studio, and veterinary hospital.

Key Highlights

• 2,500‑square‑foot freestanding office building with two separate units
• Three separate electric meters and central air conditioning
• First‑floor unit updated with fresh paint, recessed lighting, natural light, and two renovated half bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,989

Cap Rate

6.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$859,780 $859.8K

Cap Rate 7%

$614,129 $614.1K

Cap Rate 9%

$477,656 $477.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,500 SF

Gross rent

$69.9K $27.96/SF

− Vacancy

−$12.6K −$5.03/SF

EGI

$57.3K $22.93/SF

− OpEx

−$14.3K −$5.73/SF

NOI

$43.0K $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 Rate 5%

$859,780

Cap Rate 7%

$614,129

Cap Rate 9%

$477,656

Alternative Uses

Best Use

Office B

$614.1K

$537.4K – $716.5K (±1% cap)

NOI $42,989 @ 7.0% cap · market cap 6.61%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$761.6K

$666.4K – $888.6K (±1% cap)

NOI $53,313 @ 7.0% cap · market cap 8.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Najwa Naderi: Allstate ... Insurance Agency PackageMax Consultant

Suggested Use

Top Pick Real Estate Agency Law Firm Gym & Fitness Center Daycare Center Big Box & Wholesale Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

173

Businesses Nearby

Explore this area Business Placement

Demographics for 11738, NY

16,732

Population

5,888

Households

2.8

Avg Household Size

40

Median Age

32%

College-Educated

87%

High-School Grad

5.0 sq mi

ZIP Area

3,346

Density / Sq Mi

$139,008

Median Household Income

$52,284

Median Earnings

$2,789

Median Rent

$455,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office building - A stone-clad commercial property offers separate work areas, accessible entry, central air conditioning, and off-street parking.

Where is this office building located?

The property is located at 362 Mooney Pond Road Farmingville, NY.

What is the asking price?

The asking price for this property is $649,999.

What are key features of this property?

This property features: 2,500‑square‑foot freestanding office building with two separate units; Three separate electric meters and central air conditioning; First‑floor unit updated with fresh paint, recessed lighting, natural light, and two renovated half bathrooms