Fully Occupied Office
For Sale
$1,600,000
550 N Country Rd, Saint James, NY 11780
Office property with on-site parking near the St. James LIRR Station, schools, retail corridors, dining, and neighborhood services.
Property Size6,600 SF
Lot Size0.39 Acres
Price / SF$242.42
Days on Market110
Property Features for 550 N Country Rd
General Information
Standard status
Active
Size
6,600 SF
Lot size
0.39 Acres
Property subtype
Office
Occupancy
100%
Additional Details
Cap Rate
7.47%
Public Transit
Yes
Amenities
The Subject Property sits on a 0.39-acre parcel and contains approximately 6,600 square feet of well-maintained office space.
The building is 100% occupied.
On-site parking field offering a 3.48 per 1,000 SF parking ratio.
Building Details
Building Size
6,600 SF
Year Built
1990
Buildings
1
Parking Ratio
3.48 per 1,000 SF
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5196
Listed By:
Michael Tuccillo · License #License(s): NY: 10301217094, NY: 10491208938
(212) 430-5196
Source:
Marcusmillichap
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 1:16PM
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
Investment Insights
Based on property information with market context.
The 6,600-square-foot office building was constructed in 1990 and occupies a 0.39-acre parcel. The property is 100% occupied and includes an on-site parking field with a 3.48 per 1,000 SF parking ratio, providing dedicated parking for occupants and visitors.
Positioned on N Country Road in Saint James, the property is near the St. James LIRR Station, multiple schools, established retail corridors, and dining and neighborhood amenities. More than 56,000 residents live within a three-mile radius, where average household income exceeds $175,000. The surrounding context combines established residential demand with convenient access to daily services and transportation.
Positioned on N Country Road in Saint James, the property is near the St. James LIRR Station, multiple schools, established retail corridors, and dining and neighborhood amenities. More than 56,000 residents live within a three-mile radius, where average household income exceeds $175,000. The surrounding context combines established residential demand with convenient access to daily services and transportation.
Key Highlights
- 100% occupied office building
- Approximately 6,600 square feet on a 0.39‑acre parcel
- On‑site parking field with a 3.48 per 1,000 SF parking ratio
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
$113,490
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
7.09%
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%
$2,269,800
$2.3M
Cap Rate 7%
$1,621,286
$1.6M
Cap Rate 9%
$1,261,000
$1.3M
Market Conditions
NOI Build-Up for 6,600 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
$184.5K $27.96/SF
− Vacancy
−$33.2K −$5.03/SF
EGI
$151.3K $22.93/SF
− OpEx
−$37.8K −$5.73/SF
NOI
$113.5K $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%
$2,269,800
Cap Rate 7%
$1,621,286
Cap Rate 9%
$1,261,000
Alternative Uses
Best Use
Office B
$1.62M
$1.42M – $1.89M
NOI $113,490 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,747 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 11780, NY
15,508
Population
5,907
Households
2.6
Avg Household Size
48
Median Age
52%
College-Educated
96%
High-School Grad
11.5 sq mi
ZIP Area
1,349
Density / Sq Mi
$141,576
Median Household Income
$72,287
Median Earnings
$2,322
Median Rent
$702,900
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 - Office property with on-site parking near the St. James LIRR Station, schools, retail corridors, dining, and neighborhood services.
Where is this office building located?
The property is located at 550 N Country Rd Saint James, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 100% occupied office building; Approximately 6,600 square feet on a 0.39‑acre parcel; On‑site parking field with a 3.48 per 1,000 SF parking ratio
