Warehouse with Drive-In
New
For Sale
Contact for pricing
72 Milbar Boulevard, Farmingdale, NY 11735
Warehouse facility with paved grounds, HVAC, sewer connections, and a dedicated office component.
Property Size7,200 SF
Lot Size0.63 Acres
Price / SF$472.22
Days on Market6
Property Features for 72 Milbar Boulevard
General Information
Standard status
Active
Size
7,200 SF
Lot size
0.63 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
2
Conditioned Warehouse
Yes
Additional Details
Utilities to Site
Yes
Building Details
Building Size
7,200 SF
Listing Agency:
Industry One Realty Corporation
Listed By:
Mario Asaro · License #NY
Source:
Crexi
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 13 at 5:18AM
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 Industry One Realty Corporation
Investment Insights
Based on property information with market context.
This warehouse property provides approximately 7,200 square feet on 0.63 acres, including an office area representing 10% of the building. The facility offers 14 feet of clear ceiling height, two drive-in doors, HVAC throughout, and sewer connectivity. A fully paved lot supports site circulation and outdoor operations.
Located at 72 Milbar Boulevard in Farmingdale, New York, the property combines warehouse functionality with office space and established site improvements. The drive-in access, clear height, paved grounds, and building-wide HVAC provide a practical configuration for commercial occupancy.
Located at 72 Milbar Boulevard in Farmingdale, New York, the property combines warehouse functionality with office space and established site improvements. The drive-in access, clear height, paved grounds, and building-wide HVAC provide a practical configuration for commercial occupancy.
Key Highlights
- +/- 7,200sf on .63 Acres
- 10% office component
- 14’ clear ceiling height
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
$125,122
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
3.68%
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%
$2,502,440
$2.5M
Cap Rate 7%
$1,787,457
$1.8M
Cap Rate 9%
$1,390,244
$1.4M
Market Conditions
NOI Build-Up for 7,200 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
$158.1K $21.96/SF
− Vacancy
−$10.9K −$1.52/SF
EGI
$147.2K $20.44/SF
− OpEx
−$22.1K −$3.07/SF
NOI
$125.1K $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
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%
$2,502,440
Cap Rate 7%
$1,787,457
Cap Rate 9%
$1,390,244
Alternative Uses
Best Use
Warehouse
$1.79M
$1.56M – $2.09M
NOI $125,122 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.76M
$4.17M – $5.55M
NOI $333,234 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11735, NY
32,989
Population
11,435
Households
2.9
Avg Household Size
42
Median Age
45%
College-Educated
92%
High-School Grad
10.7 sq mi
ZIP Area
3,083
Density / Sq Mi
$146,190
Median Household Income
$64,273
Median Earnings
$2,285
Median Rent
$572,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse facility with paved grounds, HVAC, sewer connections, and a dedicated office component.
Where is this warehouse located?
The property is located at 72 Milbar Boulevard Farmingdale, NY.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: +/- 7,200sf on .63 Acres; 10% office component; 14’ clear ceiling height
