Medical Office Near Good
For Sale
$1,500,000
Pending
800 Montauk Hwy, West Islip, NY 11795
Renovated medical office space adjacent to Good Samaritan Hospital.
Property Size1,770 SF
Lot Size0.24 Acres
Days on Market165
Property Features for 800 Montauk Hwy
General Information
Standard status
Pending
Size
1,770 SF
Lot size
0.24 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$29,041
Building Details
Building Size
1,770 SF
Year Built
1945
Units
1
Listing Agency:
(516) 410-5944
Listed By:
Irene D. Lockel CBR
(516) 410-5944
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 21 at 8:53AM
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 Irene D. Lockel CBR
Investment Insights
Based on property information with market context.
This property is located directly adjacent to Good Samaritan Hospital. It features renovated office space on the main level, encompassing 1770 square feet. Additionally, there is a finished basement with a separate outside entrance, providing approximately 1000 additional square feet. The office space includes a large reception area with a fireplace. The total building size is 3606 square feet.
Key Highlights
- Prime location directly adjacent to Good Samaritan Hospital
- Renovated main level with 1770 sq ft
- Finished basement with outside entrance (ose), adding approximately 1000 sq ft of usable space
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
$62,007
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
4.13%
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%
$1,240,140
$1.2M
Cap Rate 7%
$885,814
$885.8K
Cap Rate 9%
$688,967
$689.0K
Market Conditions
NOI Build-Up for 3,606 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
$100.8K $27.96/SF
− Vacancy
−$18.1K −$5.03/SF
EGI
$82.7K $22.93/SF
− OpEx
−$20.7K −$5.73/SF
NOI
$62.0K $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%
$1,240,140
Cap Rate 7%
$885,814
Cap Rate 9%
$688,967
Alternative Uses
Best Use
Office B
$885.8K
$775.1K – $1.03M
NOI $62,007 @ 7.0% cap · market cap 4.13%
Second Best
Healthcare Medical
$823.9K
$720.9K – $961.2K
NOI $57,674 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$1.10M
$961.2K – $1.28M
NOI $76,899 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11795, NY
25,344
Population
8,166
Households
3.1
Avg Household Size
43
Median Age
51%
College-Educated
96%
High-School Grad
5.7 sq mi
ZIP Area
4,446
Density / Sq Mi
$171,068
Median Household Income
$67,874
Median Earnings
$2,660
Median Rent
$598,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated medical office space adjacent to Good Samaritan Hospital.
Where is this medical office space located?
The property is located at 800 Montauk Hwy West Islip, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime location directly adjacent to Good Samaritan Hospital; Renovated main level with 1770 sq ft; Finished basement with outside entrance (ose), adding approximately 1000 sq ft of usable space
