Office Condominium with Private
For Sale
$319,000
369 E Main Street, East Islip, NY 11730
Commercial Sale, East Islip, NY
Property Size1,000 SF
Lot Size0.02 Acres
Price / SF$319
Days on Market9
Property Features for 369 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
BU3
Parking
75
Elementary school
Timber Point Elementary School
Middle school
East Islip Middle School
High school
East Islip High School
Elementary school district
East Islip
Middle school district
East Islip
High school district
East Islip
Standard status
Active
APN
0500-348-01-02-00-003-000
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9820
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Multi Units, Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Flooring type
Vinyl, Carpet
Building materials
Brick
Listing Agency:
Howard Hanna Coach
(631) 331-3600
Listed By:
David Friedman
(631) 358-9344
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 20 at 9:06AM
MLS# 1037791
Copyright © 2026 OneKey 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 professional office condominium is arranged for practical day-to-day operations, with a reception area, conference room, principal office, three additional private offices, dedicated storage, and a private restroom. The suite offers approximately 1,000 square feet and includes separate electric, thermostat, heating, and air-conditioning controls for independent operation. Brick construction dates to 1985, with vinyl and carpet flooring, natural-gas forced-air heat, and central air with multiple units.
The property is located on East Main Street in East Islip, with access to major roadways and nearby business centers. Shared parking serves staff and visitors. The property carries BU3 zoning, and any use remains subject to applicable zoning and condominium regulations. Furniture may also be available.
The property is located on East Main Street in East Islip, with access to major roadways and nearby business centers. Shared parking serves staff and visitors. The property carries BU3 zoning, and any use remains subject to applicable zoning and condominium regulations. Furniture may also be available.
Key Highlights
- Approximately 1,000 square feet of professional office space
- Reception area, conference room, principal office, three private offices, storage, and private restroom
- Separate electric, thermostat, heating, and A/C controls
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
$17,195
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
5.39%
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%
$343,900
$343.9K
Cap Rate 7%
$245,643
$245.6K
Cap Rate 9%
$191,056
$191.1K
Market Conditions
NOI Build-Up for 1,000 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
$28.0K $27.96/SF
− Vacancy
−$5.0K −$5.03/SF
EGI
$22.9K $22.93/SF
− OpEx
−$5.7K −$5.73/SF
NOI
$17.2K $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%
$343,900
Cap Rate 7%
$245,643
Cap Rate 9%
$191,056
Alternative Uses
Best Use
Office B
$245.6K
$214.9K – $286.6K
NOI $17,195 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$304.6K
$266.6K – $355.4K
NOI $21,325 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Explore this area
Business Placement
Demographics for 11730, NY
14,523
Population
5,230
Households
2.8
Avg Household Size
43
Median Age
39%
College-Educated
95%
High-School Grad
4.5 sq mi
ZIP Area
3,227
Density / Sq Mi
$146,190
Median Household Income
$64,934
Median Earnings
$2,508
Median Rent
$577,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Configured for professional use with reception, meeting, private office, storage, and restroom areas.
Where is this office units located?
The property is located at 369 E Main Street East Islip, NY.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Approximately 1,000 square feet of professional office space; Reception area, conference room, principal office, three private offices, storage, and private restroom; Separate electric, thermostat, heating, and A/C controls
