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    Net-Leased Medical Office Asset Title is generated by Realmo AI

    492 Old Town Rd, Port Jefferson Station, NY 11776

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    Single-tenant medical office with predictable cash flow and rent growth.

    Type:Office
    Property size:
    5,000 SF
    Price / SF:
    $456/SF
    Added:
    Mar 5, 2026
    Days on Market:
    68
    Last Refresh:
    Mar 16 at 2:27 pm

    Property Features for 492 Old Town Rd

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    Christopher Mitchel

    Listing agent Christopher Mitchel License #OH SAL.2014000892

    Listing office Marcus & Millichap - Cleveland

    Listing date Mar 5, 2026

    Source Crexi

    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 Marcus & Millichap - Cleveland

    HighLights

    • Single‑tenant, net‑leased (NNN) medical office building occupied by Concerned Dental Care, minimizing landlord responsibilities
    • Purpose‑built, ±5,000‑square‑foot dental facility with a specialized layout designed for dental operations
    • Predictable near‑term cash flow with approximately four years remaining on the current lease term
    • Lease features three percent annual rent increases, providing built‑in income growth
    • Located at 492 Old Town Road in Port Jefferson Station, New York
    • Corporate‑backed tenant in the resilient orthodontic and dental services sector

    Overview

    The property at 492 Old Town Road in Port Jefferson Station, New York, is a single-tenant, net-leased medical office asset currently occupied by Concerned Dental Care. The purpose-built dental facility has a size of approximately 5,000 square feet and spans two floors, with additional basement space. The specialized layout is designed for long-term dental operations. The asset is leased under a triple-net (NNN) structure, which minimizes landlord responsibilities. Approximately four years remain on the current lease term, providing predictable near-term cash flow while maintaining future flexibility. The lease features three percent annual rent increases, delivering built-in income growth throughout the remaining term. The property is suited for orthodontic and dental services. National dental industry expenditures exceed $174 billion annually.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nida Shakil, D.D.S. Dental Office Concerned Dental Care ... Dental Office Attar Deema DDS Dental Office Reisfeld Stacy H ... Dental Office Dr. Mario Tuchman Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Head To Tail Animal Hospital — 6 Yava St, Port Jefferson Station, NY 11776

    Location Insight

    • Map
    • Local Demand
    City
    Port Jefferson Station
    County
    Suffolk
    State
    New York
    Longitude
    -73.065456
    Latitude
    40.909688

    Nearby Similar for Sale

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    • $2,495,000
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      Port Jefferson Station Industrial Building

      6,980 SF industrial building with conversion potential.
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      Restaurant Site on Route 112

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      Industrial Building Conversion Potential

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    FAQs

    What type of property is this?
    Medical Office Space - Single-tenant medical office with predictable cash flow and rent growth.
    Where is this medical office space located?
    The property is located at 492 Old Town Rd Port Jefferson Station, NY.
    What is the asking price?
    The asking price for this property is $2,281,840.
    What are key features of this property?
    This property features: Single‑tenant, net‑leased (NNN) medical office building occupied by Concerned Dental Care, minimizing landlord responsibilities; Purpose‑built, ±5,000‑square‑foot dental facility with a specialized layout designed for dental operations; Predictable near‑term cash flow with approximately four years remaining on the current lease term
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Christopher Mitchel
    Real Estate License ID: OH SAL.2014000892
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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