Industrial Condo Unit with Two
For Sale
Contact for pricing
710-9 Union Parkway, Ronkonkoma, NY 11779
Industrial condo with office space, two drive-ins, and loading capacity—positioned for convenient Long Island highway and transit access.
Property Size6,280 SF
Lot Size3.00 Acres
Price / SF$326.43
Days on Market95
Property Features for 710-9 Union Parkway
General Information
Standard status
Active
Size
6,280 SF
Total Parking Spaces
83
Lot size
3.00 Acres
Property subtype
Industrial
Zoning
IND1
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
2
Drive-In Doors
2
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Stories
1
Units
10
Listing Agency:
Douglas Elliman Commercial Division
Listed By:
Michael Murphy · License #NY 10491211076
(631) 858-2405
Source:
Crexi
Added: Jun 3
Changed: Aug 22
Last Checked: Sep 1 at 8:47AM
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 Douglas Elliman Commercial Division
Investment Insights
Based on property information with market context.
Unit 9 at 710 Union Parkway is a 6,280 SF industrial condo within a ten-unit building on a combined three-acre campus that includes three well-maintained industrial buildings. The space is configured with 942 SF of office space and 5,338 SF of warehouse area. Operational features include two drive-ins and two loading docks, 18-foot ceiling heights, 200-amp/3-phase power, and gas heat.
The property is located in the Town of Islip. The campus has a site plan with shared parking, with approximately 83 spaces allocated across the businesses at 710 Union Parkway. Access to major routes and regional transportation is supported by proximity to the Long Island Expressway at Exit 59, along with nearby connectivity to the Ronkonkoma HUB and Station Yards at the LIRR, Long Island MacArthur Airport, Veterans Memorial Highway, and Sunrise Highway.
This unit is suited to tenants and owner-users seeking an industrial format that combines warehouse functionality with dedicated office space. The presence of multiple loading options and drive-in access can support a range of distribution and light industrial users requiring day-to-day operational flexibility within a consolidated industrial condo environment.
The property is located in the Town of Islip. The campus has a site plan with shared parking, with approximately 83 spaces allocated across the businesses at 710 Union Parkway. Access to major routes and regional transportation is supported by proximity to the Long Island Expressway at Exit 59, along with nearby connectivity to the Ronkonkoma HUB and Station Yards at the LIRR, Long Island MacArthur Airport, Veterans Memorial Highway, and Sunrise Highway.
This unit is suited to tenants and owner-users seeking an industrial format that combines warehouse functionality with dedicated office space. The presence of multiple loading options and drive-in access can support a range of distribution and light industrial users requiring day-to-day operational flexibility within a consolidated industrial condo environment.
Key Highlights
- 6,280 SF industrial condo (Unit 9) with 5,338 SF warehouse and 942 SF office space
- Warehouse includes two drive‑ins, two loading docks, and 18‑foot ceiling heights
- Utilities and HVAC: 200‑amp, 3‑phase power and gas heat
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
$107,987
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
5.27%
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%
$2,159,740
$2.2M
Cap Rate 7%
$1,542,671
$1.5M
Cap Rate 9%
$1,199,856
$1.2M
Market Conditions
NOI Build-Up for 6,280 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
$175.6K $27.96/SF
− Vacancy
−$31.6K −$5.03/SF
EGI
$144.0K $22.93/SF
− OpEx
−$36.0K −$5.73/SF
NOI
$108.0K $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%
$2,159,740
Cap Rate 7%
$1,542,671
Cap Rate 9%
$1,199,856
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $107,987 @ 7.0% cap · market cap 5.27%
Second Best
Warehouse
$1.37M
$1.20M – $1.60M
NOI $96,238 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,923 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Dock-high doors
2
Drive-in doors
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,519
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11779, NY
38,250
Population
14,145
Households
2.7
Avg Household Size
42
Median Age
31%
College-Educated
94%
High-School Grad
12.5 sq mi
ZIP Area
3,060
Density / Sq Mi
$117,684
Median Household Income
$54,121
Median Earnings
$2,103
Median Rent
$465,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial condo with office space, two drive-ins, and loading capacity—positioned for convenient Long Island highway and transit access.
Where is this warehouse located?
The property is located at 710-9 Union Parkway Ronkonkoma, NY.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 6,280 SF industrial condo (Unit 9) with 5,338 SF warehouse and 942 SF office space; Warehouse includes two drive‑ins, two loading docks, and 18‑foot ceiling heights; Utilities and HVAC: 200‑amp, 3‑phase power and gas heat
