Medical Office Building with On-Site
For Sale
Contact for pricing
5 MEDICAL DR, Port Jefferson Station, NY 11776
Tenanted neurology practice includes an on-site MRI and benefits from proximity to major regional hospitals.
Property Size4,000 SF
Price / SF$537.50
Days on Market144
Property Features for 5 MEDICAL DR
General Information
Standard status
Active
Size
4,000 SF
Class
B
Property subtype
Office
Lease Type
NN
Investment Type
Net Lease
Building Details
Year Built
1978
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Michael Tuccillo · License #NY 10401244358
(212) 430-5196
Source:
Crexi
Added: Jun 2
Changed: Oct 21
Last Checked: Oct 20 at 8:07PM
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 - Manhattan
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Investment Insights
Based on property information with market context.
This medical office property is leased to True North Neurology under an NN Lease. The tenant operates a full-service neurology, headache medicine, and sleep medicine practice, and enhances clinical convenience with an on-site MRI machine. The building totals 4,000 square feet and is configured to support ongoing patient care within a specialized healthcare setting.
The property is positioned at the center of a premier North Shore medical corridor. Within minutes are Stony Brook Medicine (648 beds, Level 1 Trauma Center), Catholic Health St. Charles Hospital (243 beds), and Northwell Mather Hospital (249 beds), each established regional providers serving high-acuity patient needs.
For buyers and healthcare operators, the asset offers a built-in, specialty care tenant and an MRI capability that can support patient convenience for neurology-related services. Its location within a dense hospital environment aligns with the continued demand that typically follows access to established clinical providers.
The property is positioned at the center of a premier North Shore medical corridor. Within minutes are Stony Brook Medicine (648 beds, Level 1 Trauma Center), Catholic Health St. Charles Hospital (243 beds), and Northwell Mather Hospital (249 beds), each established regional providers serving high-acuity patient needs.
For buyers and healthcare operators, the asset offers a built-in, specialty care tenant and an MRI capability that can support patient convenience for neurology-related services. Its location within a dense hospital environment aligns with the continued demand that typically follows access to established clinical providers.
Key Highlights
- Year built 1978 medical property leased to True North Neurology
- Tenant operates an on‑site MRI machine
- True North Neurology provides neurology, headache medicine, and sleep medicine services
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,782
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,375,640
$1.4M
Cap Rate 7%
$982,600
$982.6K
Cap Rate 9%
$764,244
$764.2K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$111.8K $27.96/SF
− Vacancy
−$20.1K −$5.03/SF
EGI
$91.7K $22.93/SF
− OpEx
−$22.9K −$5.73/SF
NOI
$68.8K $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%
$1,375,640
Cap Rate 7%
$982,600
Cap Rate 9%
$764,244
Alternative Uses
Best Use
Office B
$982.6K
$859.8K – $1.15M
NOI $68,782 @ 7.0% cap · market cap 3.20%
Second Best
Healthcare Medical
$913.9K
$799.7K – $1.07M
NOI $63,976 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,301 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 11776, NY
24,205
Population
8,707
Households
2.8
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
3,409
Density / Sq Mi
$119,480
Median Household Income
$60,398
Median Earnings
$2,220
Median Rent
$462,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Tenanted neurology practice includes an on-site MRI and benefits from proximity to major regional hospitals.
Where is this medical office space located?
The property is located at 5 MEDICAL DR Port Jefferson Station, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Year built 1978 medical property leased to True North Neurology; Tenant operates an on‑site MRI machine; True North Neurology provides neurology, headache medicine, and sleep medicine services
