Office Condominium with Private
For Sale
$319,000
369 Main Street, Islip, NY 11730
Independent climate controls and shared parking support daily operations.
Property Size1,000 SF
Price / SF$319
Days on Market21
Property Features for 369 Main Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$9,820
Amenities
Central Air
3
75 Parking Spaces.
Building Details
Year Built
1985
Listing Agency:
(631) 358-9344
Listed By:
Howard Hanna Coach
(631) 358-9344
Source:
Xome
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 1:14PM
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 Howard Hanna Coach
Investment Insights
Based on property information with market context.
This office condominium provides approximately 1,000 square feet within a professional complex established in 1985. The interior arrangement includes a reception area, conference room, principal office, three additional offices, dedicated storage, and a private restroom. Central air and separate electric, thermostat, heating, and air-conditioning controls support independent day-to-day operation. Furniture may also be available.
Shared parking provides 75 spaces for staff and visitors. The property is positioned on Main Street in Islip, with access to major roadways and nearby business centers. Use remains subject to applicable zoning and condominium regulations.
Shared parking provides 75 spaces for staff and visitors. The property is positioned on Main Street in Islip, with access to major roadways and nearby business centers. Use remains subject to applicable zoning and condominium regulations.
Key Highlights
- Approximately 1,000 square feet of office condominium space
- Reception area, conference room, principal office, and 3 additional private offices
- Dedicated storage and private restroom
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
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 - Independent climate controls and shared parking support daily operations.
Where is this office units located?
The property is located at 369 Main Street 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 office condominium space; Reception area, conference room, principal office, and 3 additional private offices; Dedicated storage and private restroom
