Turn-Key Ground Floor Medical
For Sale
$999,995
8 Technology Drive, East Setauket, NY 11733
Commercial Sale, East Setauket, NY
Property Size2,500 SF
Lot Size2.84 Acres
Price / SF$399
Days on Market467
Property Features for 8 Technology Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
100
Parking features
Parking Lot
Directions
347-Belle Meade-Technology Dr
Standard status
Active
Size
2,500 SF
Lot size
2.84 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15566
Utilities
Utilities
Cable Available
Sewer type
Cesspool
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Building materials
Block, Brick, Frame, Stucco
Listing Agency:
Voro LLC
(877) 943-8676
Listed By:
Imtiaz Vesamia
(631) 935-2689
Added: May 11, 2025
Changed: Aug 19
Last Checked: Aug 20 at 7:06AM
MLS# 860598
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering includes a turn-key office space configured as Suite 103, previously used by a medical practitioner. The ground floor unit is designed for convenient patient or customer access, with the available improvements ready for occupancy by the right user. The listing also notes that the space may be expandable with proper permits, providing flexibility for qualified buyers or operators evaluating future space needs.
Located at 8 Technology Drive in East Setauket, New York, the property is presented for sale in Suffolk County. The parcel is identified as 2.84 acres. In addition to the for-sale option, the space is also described as available for an NNN lease.
For a medical or office-focused tenant, the combination of a ground floor setup and a space that has already been utilized by a medical practitioner may reduce early build-out considerations. For buyers, the turn-key condition supports a straightforward entry point, while the stated ability to expand with proper permits offers a potential path to accommodate additional requirements over time. Buyers evaluating either an owner-occupant strategy or a lease-oriented approach can consider the included option for NNN leasing as part of their underwriting and planning.
Located at 8 Technology Drive in East Setauket, New York, the property is presented for sale in Suffolk County. The parcel is identified as 2.84 acres. In addition to the for-sale option, the space is also described as available for an NNN lease.
For a medical or office-focused tenant, the combination of a ground floor setup and a space that has already been utilized by a medical practitioner may reduce early build-out considerations. For buyers, the turn-key condition supports a straightforward entry point, while the stated ability to expand with proper permits offers a potential path to accommodate additional requirements over time. Buyers evaluating either an owner-occupant strategy or a lease-oriented approach can consider the included option for NNN leasing as part of their underwriting and planning.
Key Highlights
- 2500 sq ft of prime real estate
- Turn‑key office ready for use
- Ground floor unit for easy access
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
$42,989
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
4.30%
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%
$859,780
$859.8K
Cap Rate 7%
$614,129
$614.1K
Cap Rate 9%
$477,656
$477.7K
Market Conditions
NOI Build-Up for 2,500 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
$69.9K $27.96/SF
− Vacancy
−$12.6K −$5.03/SF
EGI
$57.3K $22.93/SF
− OpEx
−$14.3K −$5.73/SF
NOI
$43.0K $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%
$859,780
Cap Rate 7%
$614,129
Cap Rate 9%
$477,656
Alternative Uses
Best Use
Office B
$614.1K
$537.4K – $716.5K
NOI $42,989 @ 7.0% cap · market cap 4.30%
Second Best
Healthcare Medical
$571.2K
$499.8K – $666.4K
NOI $39,985 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$761.6K
$666.4K – $888.6K
NOI $53,313 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,380
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11733, NY
17,967
Population
6,547
Households
2.7
Avg Household Size
46
Median Age
63%
College-Educated
97%
High-School Grad
11.7 sq mi
ZIP Area
1,536
Density / Sq Mi
$174,931
Median Household Income
$76,192
Median Earnings
$2,386
Median Rent
$653,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Just Cats Health Care — 226 N Belle Mead Rd Ste A, Setauket- East Setauket, NY 11733
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key ground floor suite previously used by a medical practitioner, offering easier patient or customer access.
Where is this medical office space located?
The property is located at 8 Technology Drive East Setauket, NY.
What is the asking price?
The asking price for this property is $999,995.
What are key features of this property?
This property features: 2500 sq ft of prime real estate; Turn‑key office ready for use; Ground floor unit for easy access
