Nine-Unit Flex Space
New
For Sale
Contact for pricing
513 Acorn Street, Deer Park, NY 11729
Multi-unit flex property with office allocation, drive-in access, and existing leases offering user and investor flexibility.
Property Size23,000 SF
Lot Size1.20 Acres
Price / SF$234.35
Days on Market6
Property Features for 513 Acorn Street
General Information
Standard status
Active
Size
23,000 SF
Lot size
1.20 Acres
Property subtype
Industrial
Occupancy
100%
Warehouse & Industrial
Clear Height
13 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Industry One Realty Corporation
Listed By:
Mario Asaro · License #NY
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 2:49PM
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 Industry One Realty Corporation
Investment Insights
Based on property information with market context.
This flex space property contains approximately 23,000 square feet across nine units on 1.2 acres. The building is currently fully leased on short-term leases, with some units potentially available for an owner-user or investor. Approximately 25% of the building is office space, with 13-foot ceiling height, one drive-in door, and gas heat.
Building improvements include a new roof installed in June 2017 and new exterior lighting completed in 2020. The property is located at 513 Acorn Street in Deer Park, approximately 1 mile west of Deer Park Ave and just south of the LIE.
Building improvements include a new roof installed in June 2017 and new exterior lighting completed in 2020. The property is located at 513 Acorn Street in Deer Park, approximately 1 mile west of Deer Park Ave and just south of the LIE.
Key Highlights
- Approximately 23,000sf on 1.2 Acres
- Nine units; currently fully leased on short leases
- Approximately 25% office space with 13’ ceiling height
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
$395,494
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
7.34%
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%
$7,909,880
$7.9M
Cap Rate 7%
$5,649,914
$5.6M
Cap Rate 9%
$4,394,378
$4.4M
Market Conditions
NOI Build-Up for 23,000 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
$643.1K $27.96/SF
− Vacancy
−$115.8K −$5.03/SF
EGI
$527.3K $22.93/SF
− OpEx
−$131.8K −$5.73/SF
NOI
$395.5K $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%
$7,909,880
Cap Rate 7%
$5,649,914
Cap Rate 9%
$4,394,378
Alternative Uses
Best Use
Office B
$5.65M
$4.94M – $6.59M
NOI $395,494 @ 7.0% cap · market cap 7.34%
Second Best
Warehouse
$5.04M
$4.41M – $5.87M
NOI $352,463 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$7.01M
$6.13M – $8.17M
NOI $490,481 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13 ft
Clear height
1
Drive-in doors
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11729, NY
28,569
Population
9,104
Households
3.1
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
4,608
Density / Sq Mi
$138,350
Median Household Income
$60,089
Median Earnings
$1,889
Median Rent
$496,100
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?
Flex space - Multi-unit flex property with office allocation, drive-in access, and existing leases offering user and investor flexibility.
Where is this flex space located?
The property is located at 513 Acorn Street Deer Park, NY.
What is the asking price?
The asking price for this property is $5,390,000.
What are key features of this property?
This property features: Approximately 23,000sf on 1.2 Acres; Nine units; currently fully leased on short leases; Approximately 25% office space with 13’ ceiling height
