Office Building with
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938 Rte 109, Lindenhurst, NY 11757
Office building in excellent condition on the south side of Route 109 with strong visibility.
Property Size3,600 SF
Price / SF$248.61
Days on Market598
Property Features for 938 Rte 109
General Information
Standard status
Active
Size
3,600 SF
Property subtype
OFFICE
Additional Details
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
MGM Islandwide Realty, Inc.
(516) 818-7650
Listed By:
Michael G Macchia
(516) 818-7650
Source:
Moodyscre
Added: Dec 16, 2024
Changed: Jul 30
Last Checked: Aug 6 at 9:14AM
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 MGM Islandwide Realty, Inc.
Investment Insights
Based on property information with market context.
Office building totaling 3,600 square feet and described as being in excellent condition. The property is presented with strong visibility for prospective tenants or users looking for convenient, noticeable presence.
The building is located on the south side of the well-traveled Route 109 in Lindenhurst. This positioning supports everyday drive-by recognition along a primary corridor.
Overall, this is a straightforward office facility offering a compact footprint and a location tied to consistent local traffic patterns.
The building is located on the south side of the well-traveled Route 109 in Lindenhurst. This positioning supports everyday drive-by recognition along a primary corridor.
Overall, this is a straightforward office facility offering a compact footprint and a location tied to consistent local traffic patterns.
Key Highlights
- 3,600 square feet office building
- In excellent condition
- Located on the south side of Route 109
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
$61,903
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
6.92%
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%
$1,238,060
$1.2M
Cap Rate 7%
$884,329
$884.3K
Cap Rate 9%
$687,811
$687.8K
Market Conditions
NOI Build-Up for 3,600 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
$100.7K $27.96/SF
− Vacancy
−$18.1K −$5.03/SF
EGI
$82.5K $22.93/SF
− OpEx
−$20.6K −$5.73/SF
NOI
$61.9K $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%
$1,238,060
Cap Rate 7%
$884,329
Cap Rate 9%
$687,811
Alternative Uses
Best Use
Office B
$884.3K
$773.8K – $1.03M
NOI $61,903 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$959.6K – $1.28M
NOI $76,771 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 11757, NY
45,157
Population
15,212
Households
3
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.8 sq mi
ZIP Area
6,641
Density / Sq Mi
$128,081
Median Household Income
$56,059
Median Earnings
$2,091
Median Rent
$479,500
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 - Office building in excellent condition on the south side of Route 109 with strong visibility.
Where is this office building located?
The property is located at 938 Rte 109 Lindenhurst, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 3,600 square feet office building; In excellent condition; Located on the south side of Route 109
