Patchogue Village Freestanding Office
For Sale
Contact for pricing
75 Oak St, Patchogue, NY 11772
Freestanding office building in Patchogue Village with long-term tenant.
Property Size24,000 SF
Lot Size1.52 Acres
Price / SF$229.17
Days on Market147
Property Features for 75 Oak St
General Information
Standard status
Active
Size
24,000 SF
Total Parking Spaces
88
Lot size
1.52 Acres
Property subtype
Office
Zoning
Commercial
Building Details
Units
2
Listing Agency:
Douglas Elliman Commercial Division
(631) 858-2405
Listed By:
Michael Murphy · License #NY 10491211076
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 10 at 10:37AM
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.
This is a freestanding office building with approximately 24,000 square feet, situated on a signalized corner in Patchogue Village. The location offers accessibility and exposure, with foot and vehicle traffic, and proximity to retail, dining, and transportation. The property is 70% occupied by the Social Security Administration (SSA) under a lease running through 2040. The site spans 1.52 acres and includes 88 parking spaces. The building's location at a traffic light provides exposure and access for employees and visitors. Tenant improvements have been completed. Approximately 7,000 square feet is available for occupancy or lease. This property is located in a growing downtown area.
Key Highlights
- Long‑term lease with the Social Security Administration (SSA) through 2040 provides stable, predictable income.
- Prime village‑center location in Patchogue Village with high visibility on a signalized corner.
- Approximately +/- 7,000 SF available for owner occupancy or additional lease income.
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
$412,690
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
7.50%
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%
$8,253,800
$8.3M
Cap Rate 7%
$5,895,571
$5.9M
Cap Rate 9%
$4,585,444
$4.6M
Market Conditions
NOI Build-Up for 24,000 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
$671.0K $27.96/SF
− Vacancy
−$120.8K −$5.03/SF
EGI
$550.3K $22.93/SF
− OpEx
−$137.6K −$5.73/SF
NOI
$412.7K $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%
$8,253,800
Cap Rate 7%
$5,895,571
Cap Rate 9%
$4,585,444
Alternative Uses
Best Use
Office B
$5.90M
$5.16M – $6.88M
NOI $412,690 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.31M
$6.40M – $8.53M
NOI $511,806 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,879
Businesses Nearby
Explore this area
Business Placement
Demographics for 11772, NY
44,459
Population
18,478
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
89%
High-School Grad
16.1 sq mi
ZIP Area
2,761
Density / Sq Mi
$105,246
Median Household Income
$55,170
Median Earnings
$2,015
Median Rent
$450,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building in Patchogue Village with long-term tenant.
Where is this office building located?
The property is located at 75 Oak St Patchogue, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Long‑term lease with the Social Security Administration (SSA) through 2040 provides stable, predictable income.; Prime village‑center location in Patchogue Village with high visibility on a signalized corner.; Approximately +/- 7,000 SF available for owner occupancy or additional lease income.
