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    584 Main St 1 Islip, NY 11751

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    For Lease
    $3,300 /Mo

    Modern, versatile commercial space with great visibility and easy access.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 24 at 8:30 pm

    Property Features for 584 Main St 1

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    Sean Darbyshire RENE
    Sean Darbyshire RENE

    Listing agent Sean Darbyshire RENE

    Listing office Signature Premier Properties

    Listing date Apr 24, 2026

    Source Elliman

    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 Signature Premier Properties

    Overview

    Renovated Commercial Space in Islip

    This recently renovated commercial space in Islip offers a modern and versatile layout. The property benefits from high visibility and easy access, enhanced by an on-site parking lot suitable for both customers and staff. The location on the south side of Main Street provides convenient access to major roadways and local amenities. This space is suitable for office, retail, or professional use.
    Location Intelligence

    Current Use by Public Records

    Paramount Land Inc Title Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Islip
    County
    Suffolk
    State
    New York
    Longitude
    -73.2122992
    Latitude
    40.729198

    Nearby Similar for Lease

    • $3,300/Mo

      Renovated Commercial Space in Islip

      Modern, versatile commercial space with parking and great visibility.
      584 Main Street, Islip, NY 11751
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    • $20 SF/Yr

      Islip Office Space For Lease

      Office space available for lease in Islip, New York.
      309 Main Street, Islip, NY 11751
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      Freestanding Corner Lot Retail Building

      Retail building on Sunrise Highway Service Road with strong demographics.
      2396 Sunrise Hwy, Islip, NY
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      Retail Space on Main Street

      Retail space available for rent on Main Street.
      479 Main St, Islip, NY
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      Retail Space Near Islip Station

      Retail space with great visibility and abundant parking available for rent.
      155 Islip Ave, Islip, NY
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      Downtown Retail End Cap Space

      Highly visible retail space in the heart of downtown.
      454 Main St, Islip, NY
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    FAQs

    What type of property is this?
    Office units - Modern, versatile commercial space with great visibility and easy access.
    Where is this office units located?
    The property is located at 584 Main St 1 Islip, NY.
    What is the lease rate?
    The lease rate is $3,300 /Mo.
    What are key features of this property?
    This property features: Fully renovated commercial space offering a modern, versatile layout.; On‑site parking lot for customers and staff.; Great visibility and easy access.
    (631) 617-0681
    We can help!
    Listing Contact
    Sean Darbyshire RENE
    Sean Darbyshire RENE
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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