Bohemia Flex Space
For Sale
Contact for pricing
50 Orville Dr, Bohemia, NY
Flex space with office/R&D, drive-in, and ample power.
Property Size21,500 SF
Lot Size1.64 Acres
Price / SF$306.77
Days on Market549
Property Features for 50 Orville Dr
General Information
Standard status
Active
Size
21,500 SF
Lot size
1.64 Acres
Property subtype
FLEX_R_AND_D
Properties For Sale
at 50 Orville Dr Contact us- Size
- 14,000 SF
- Type
- FLEX_R_AND_D
- Lease Type
- NET_NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
50 Orville Dr
- 100% Office/R&D
- Fully Sprinklered
- Fully Air Conditioned
- 1 Drive-In
- 1,200...
show more
Contact us
- Floor
- 1
- Size
- 7,500 SF
- Type
- FLEX_R_AND_D
- Lease Type
- NET_NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
50 Orville Dr
- 100% Office/R&D
- Fully Sprinklered
- Fully Air Conditioned
- 1,200 Amps Electric
Contact us
- Floor
- 1
- Size
- 6,566 SF
- Type
- FLEX_R_AND_D
- Lease Type
- NET_NNN
- Availability
- AVAILABLE, On Available Date
- Sublease
- No
50 Orville Dr
- 100% Office/R&D
- 1 Drive-In
- Fully Sprinklered
- Fully Air Conditioned
- 400...
show more
Contact us
Listing Agency:
Rechler Equity Partners
(631) 414-8400
Listed By:
Ted Trias
(516) 848-2773
Source:
Moodyscre
Added: Mar 15, 2025
Changed: Sep 5
Last Checked: Sep 13 at 11:34AM
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 Rechler Equity Partners
Investment Insights
Based on property information with market context.
This flex space property in Bohemia, NY, offers 21,500 square feet suitable for office and R&D purposes. The building is fully equipped with a sprinkler system and air conditioning. It includes one drive-in door and a 1,200 amp electrical system.
Key Highlights
- 100% Office/R&D suitability
- Fully air conditioned for comfortable working conditions
- Fully sprinklered
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
$305,250
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
4.63%
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%
$6,105,000
$6.1M
Cap Rate 7%
$4,360,714
$4.4M
Cap Rate 9%
$3,391,667
$3.4M
Market Conditions
NOI Build-Up for 21,500 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
$464.4K $21.60/SF
− Vacancy
−$28.3K −$1.32/SF
EGI
$436.1K $20.28/SF
− OpEx
−$130.8K −$6.08/SF
NOI
$305.3K $14.20/SF
Area
Suffolk County, NY
Vacancy
6.10%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$6,105,000
Cap Rate 7%
$4,360,714
Cap Rate 9%
$3,391,667
Alternative Uses
Best Use
Industrial
$4.36M
$3.82M – $5.09M
NOI $305,250 @ 7.0% cap · market cap 4.63%
Second Best
Flex RnD
$3.56M
$3.11M – $4.15M
NOI $249,071 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$6.55M
$5.73M – $7.64M
NOI $458,493 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,721
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Constance Food Group — 545 Johnson Ave, Bohemia, NY 11716
- Señor Taco Catering Services (office) — 1560 Lakeland Ave, Bohemia, NY 11716
- Florian Food Service Inc — 50 Feldland St # 1, Bohemia, NY 11716
- J&B Restaurant Partners — 4250 Veterans Memorial Hwy 1st Floor, Suite 1070W, Bohemia, NY 11716
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with office/R&D, drive-in, and ample power.
Where is this flex space located?
The property is located at 50 Orville Dr Bohemia, NY.
What is the asking price?
The asking price for this property is $6,595,510.
What are key features of this property?
This property features: 100% Office/R&D suitability; Fully air conditioned for comfortable working conditions; Fully sprinklered
