7-Unit Office
For Sale
$5,250,000
526 MAIN ST, Greenport, NY 11901
Fully leased office property comprising multiple buildings with private off-street parking.
Property Size16,460 SF
Price / SF$318.96
Days on Market45
Property Features for 526 MAIN ST
General Information
Standard status
Active
Size
16,460 SF
Total Parking Spaces
95
Property subtype
Office
Occupancy
100%
Additional Details
Office Units
7
Taxes and HOA fees
Annual Taxes
$62,173
Amenities
3
Parking.
95 Parking Spaces. Off Street, Lot, Private.
Building Details
Year Built
1978
Buildings
3
Tenancy
Multi
Listing Agency:
Richmond Realty Corp
(631) 727-5500
Listed By:
Isaac Israel · License #1026918
(631) 902-5202
Source:
Xome
Added: Jul 20
Changed: Aug 31
Last Checked: Sep 1 at 4:45PM
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 Richmond Realty Corp
Investment Insights
Based on property information with market context.
This office property includes three buildings with a combined 16,460 square feet and seven units. Built in 1978, the complex is fully leased and configured for office and professional occupancy. Private off-street parking is provided in a dedicated lot with 95 spaces.
The property information identifies nearby restaurants, breweries, theaters, marinas, hotels, and shopping centers, although the supplied location details are inconsistent. Accordingly, no specific geographic reference is included here.
The property information identifies nearby restaurants, breweries, theaters, marinas, hotels, and shopping centers, although the supplied location details are inconsistent. Accordingly, no specific geographic reference is included here.
Key Highlights
- Three‑building office complex with 7 units
- 16,460 square feet of office space
- Fully leased property
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
$283,036
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%
$5,660,720
$5.7M
Cap Rate 7%
$4,043,371
$4.0M
Cap Rate 9%
$3,144,844
$3.1M
Market Conditions
NOI Build-Up for 16,460 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
$460.2K $27.96/SF
− Vacancy
−$82.8K −$5.03/SF
EGI
$377.4K $22.93/SF
− OpEx
−$94.3K −$5.73/SF
NOI
$283.0K $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%
$5,660,720
Cap Rate 7%
$4,043,371
Cap Rate 9%
$3,144,844
Alternative Uses
Best Use
Office B
$4.04M
$3.54M – $4.72M
NOI $283,036 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.39M – $5.85M
NOI $351,014 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 11901, NY
30,936
Population
13,126
Households
2.4
Avg Household Size
42
Median Age
21%
College-Educated
79%
High-School Grad
56.7 sq mi
ZIP Area
546
Density / Sq Mi
$83,252
Median Household Income
$39,949
Median Earnings
$2,195
Median Rent
$437,500
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 building - Fully leased office property comprising multiple buildings with private off-street parking.
Where is this office building located?
The property is located at 526 MAIN ST Greenport, NY.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Three‑building office complex with 7 units; 16,460 square feet of office space; Fully leased property
