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    12 Myrtle St Mount Sinai, NY 11766

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    For Lease
    Contact for pricing

    88,000 SF Office/Retail Space Available

    Lot size:
    88,000 SF

    Property Features for 12 Myrtle St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    88,000 SF

    Spaces For Lease

    at 12 Myrtle St, Mount Sinai, NY 11766 Contact us

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    Listing Contact
    Lee Rosner
    Lee Rosner

    Listing Agency: NAI Long Island Listing Agent: Lee Rosner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional Mount Sinai, NY property, located at 12 Myrtle St, 11766, offers a prime investment opportunity. The 88,000 square foot building, situated in Suffolk County, features a flexible layout ideal for various commercial uses. Currently, there are three suites available, with a minimum divisible space of 2,000 square feet and a maximum contiguous space of 42,800 square feet. A significant 87,800 square feet is currently vacant, presenting a substantial opportunity for immediate occupancy. The property is zoned for a mix of retail and office space, including medical office, as outlined in the approved Planned Development District (PDD) Master Plan by the Town of Brookhaven. This plan envisions a total of approximately 88,200 square feet of development, including retail space (potentially a market or grocery store), medical office space, and additional retail space, along with a 140-unit luxury rental complex. The site's strategic location on the south side of four-lane Route 25A, half a mile east of Route 112, ensures high visibility and accessibility. Furthermore, a new four-way signalized intersection at Route 25A and Myrtle Street, to be constructed by the master developer, will significantly enhance traffic flow and visibility. This presents a unique chance to acquire a substantial property with significant development potential in a rapidly growing area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Sinai
    County
    Suffolk
    State
    New York
    Longitude
    -73.0295493
    Latitude
    40.9323045

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    FAQs

    What type of property is this?
    Office Property / Space - 88,000 SF Office/Retail Space Available
    Where is this office property / space located?
    The property is located at 12 Myrtle St Mount Sinai, NY.
    What are key features of this property?
    This property features: 88,000 SF commercial building in Mount Sinai, NY, with three available suites (2,000-42,800 SF contiguous).; Part of a planned development including a 140-unit luxury multifamily complex.; Experienced master developer overseeing the project.
    (631) 342-0100 Call to check price and availability
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    12 Myrtle St Mount Sinai, NY 11766
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    Mount Sinai, NY 11766
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12 Myrtle St Mount Sinai, NY 11766
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    Contact for Pricing
    Please call us for current price
    and status of this listing Lee Rosner
    Lee Rosner
    Real Estate License ID: 10491203758
    (631) 342-0100 (631) 786-0557 (631) 232-4400
    Learn more
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