Patchogue Village Freestanding Office
75 Oak St, Patchogue, NY 11772
For Sale
Contact for pricing
Freestanding office building in Patchogue Village with long-term tenant.
Property Size24,000 SF
Lot Size1.52 Acres
Price / SF$229.17
Days on Market238
Property Features for 75 Oak St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Building Details
Units
Listing Agency:
Douglas Elliman Commercial Division
Listed By:
Michael Murphy · License NY #10491211076
(631) 858-2460
Source:
Crexi
Added: Mar 18
Changed: Oct 25
Last Checked: Nov 8 at 7:07AM
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
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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 / Yr
$412,690
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,879
Businesses Nearby
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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
$450,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Suffolk County, NY
Properties on Market for Office buildings in Suffolk County
Vacancy Rate% for Office in Northeast region
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.
