Smithtown Office Building For
For Sale
Contact for pricing
Pending
9 Brooksite Dr, Smithtown, NY 11787
9,800 SF office building available for purchase.
Property Size9,800 SF
Days on Market701
Property Features for 9 Brooksite Dr
General Information
Standard status
Pending
Size
9,800 SF
Class
A
Property subtype
Office
Zoning
Central Business (CB)
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1985
Year Renovated
2017
Stories
2
Tenancy
Single
Listing Agency:
Colliers - Long Island/Jericho, New York
Listed By:
Kenneth Enos · License #NY #10301205211
(516) 382-1828
Source:
Crexi
Added: Oct 4, 2024
Changed: Aug 24
Last Checked: Sep 2 at 4:55AM
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 Colliers - Long Island/Jericho, New York
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 9,800 square foot office building available for sale.
Key Highlights
- For sale
- Year built: 1985
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
$240,786
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
7.21%
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%
$4,815,720
$4.8M
Cap Rate 7%
$3,439,800
$3.4M
Cap Rate 9%
$2,675,400
$2.7M
Market Conditions
NOI Build-Up for 9,800 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
$382.2K $39.00/SF
− Vacancy
−$61.2K −$6.24/SF
EGI
$321.0K $32.76/SF
− OpEx
−$80.3K −$8.19/SF
NOI
$240.8K $24.57/SF
Area
Smithtown, NY
Vacancy
16.00%
Lease Rate
$39.00 /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%
$4,815,720
Cap Rate 7%
$3,439,800
Cap Rate 9%
$2,675,400
Alternative Uses
Best Use
Office B
$3.44M
$3.01M – $4.01M
NOI $240,786 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.07M
$5.31M – $7.08M
NOI $424,771 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 11787, NY
35,361
Population
12,147
Households
2.9
Avg Household Size
45
Median Age
51%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
2,373
Density / Sq Mi
$141,505
Median Household Income
$64,248
Median Earnings
$2,349
Median Rent
$642,200
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?
Office building - 9,800 SF office building available for purchase.
Where is this office building located?
The property is located at 9 Brooksite Dr Smithtown, NY.
What is the asking price?
The asking price for this property is $3,340,000.
What are key features of this property?
This property features: For sale; Year built: 1985
