Building Details

Buildings 1

Stories 1

Building Size 2,100 SF

Listing Agency: American Investment Properties

Listed By: Ron Koenigsberg CCIM · License #NY 31K00933350 Show Phone

Source: Crexi

Added: Sep 17 Changed: Sep 24 Last Checked: Sep 24 at 2:54PM

Report an Issue

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 American Investment Properties

Investment Insights

Based on property information with market context.

This freestanding medical office property in Bayport contains a single-story building with 2,100 square feet of space. The site encompasses 0.57 acres, providing a dedicated parcel for the standalone facility.

Key Highlights

• 2,100‑square‑foot medical office building
• 0.57‑acre parcel
• Single‑story freestanding facility in Bayport

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

$36,110

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

3.14%

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%

$722,200 $722.2K

Cap Rate 7%

$515,857 $515.9K

Cap Rate 9%

$401,222 $401.2K

Market Conditions

NOI Build-Up for 2,100 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

$58.7K $27.96/SF

− Vacancy

−$10.6K −$5.03/SF

EGI

$48.1K $22.93/SF

− OpEx

−$12.0K −$5.73/SF

NOI

$36.1K $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%

$722,200

Cap Rate 7%

$515,857

Cap Rate 9%

$401,222

Alternative Uses

Best Use

Office B

$515.9K

$451.4K – $601.8K (±1% cap)

NOI $36,110 @ 7.0% cap · market cap 3.14%

Second Best

Healthcare Medical

$479.8K

$419.8K – $559.8K (±1% cap)

NOI $33,587 @ 7.0% cap · market cap 2.92%

Theoretical Best

Office A

$639.8K

$559.8K – $746.4K (±1% cap)

NOI $44,783 @ 7.0% cap · market cap 3.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Faiza Mallick, MD Physician Robert Roche MD Physician NY Health - Bayport Medical Clinic

Suggested Use

Top Pick Real Estate Agency Dental Office HVAC Service Auto Parts Store Grocery & Convenience Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

300

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 11705, NY

7,951

Population

2,988

Households

2.7

Avg Household Size

44

Median Age

56%

College-Educated

99%

High-School Grad

3.4 sq mi

ZIP Area

2,339

Density / Sq Mi

$161,214

Median Household Income

$77,515

Median Earnings

$2,193

Median Rent

$618,300

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Building with Apartment

Bay Port, NY 11705

$950,000

0.30 Acres

View details

Unbranded Gas Station and C-Store

Bay Port, NY 11705

Contact for pricing

View details

Similar Off Market Nearby

• Bayport Village Animal Health — 600 Middle Rd, Bayport, NY 11705
• BVAHC — 600 Middle Rd, Bayport, NY 11705

Frequently Asked Questions

What type of property is this?

Medical Office Space - The standalone facility is configured on one level in Bayport.

Where is this medical office space located?

The property is located at 581 Middle Road Bay Port, NY.

What is the asking price?

The asking price for this property is $1,149,000.

What are key features of this property?

This property features: 2,100‑square‑foot medical office building; 0.57‑acre parcel; Single‑story freestanding facility in Bayport