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    Mount Sinai Office Space Available Title is generated by Realmo AI

    28 N Country Rd, Mount Sinai, NY 11766

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    Office space for rent near Port Jefferson Village.

    Type:Office
    Added:
    Oct 19, 2024
    Days on Market:
    594
    Last Refresh:
    May 11 at 9:26 pm

    Property Features for 28 N Country Rd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1988

    Spaces For Lease

    at 28 N Country Rd Contact us

    We can help!

    Listing Contact
    Marian Campi-Conde

    Listing agent Marian Campi-Conde License #NY #10401290062

    Listing office NAI Long Island

    Listing date Oct 19, 2024

    Source Crexi

    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 NAI Long Island

    HighLights

    • Prime location near Port Jefferson Village, Long Island Railroad, and two local hospitals.
    • Modified gross leases are available.
    • Gas and water included in lease.
    • Suitable for office and executive suite tenants.
    • Electric cost is $3.50 psf.
    • Built in 1988.

    Overview

    This property offers office spaces suitable for office and executive suite tenants. The location is near Port Jefferson Village, the Long Island Railroad, and two local hospitals. Modified gross leases are available, which include gas and water. Electric is an additional $3.50 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Senator Kenneth P. ... State Government Office Sherona Varulkar Oil, ... Alternative Medicine Practice Kristen Schmideler Counselor Maria A. Dias, PhD Counselor Calm Seas Psychotherapy, ... Crisis Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    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
    -73.035041
    Latitude
    40.938409

    Nearby Similar for Lease

    • $14 SF/Yr

      Multi-Tenant Office Building

      Modified gross terms include gas and water, with fiber optic service, elevator access, and on-site parking.
      Portview Building - 28 N. Country Road, Mount Sinai, NY 11766
      View Details
    • $22 SF/Yr
      2,500 SF

      Mount Sinai Retail Space Available

      Retail space in large shopping center, Mount Sinai, NY.
      5505-5507 Nesconset Highway, Mount Sinai, NY
      View Details
    • Contact for pricing
      2,400 SF

      Mount Sinai Retail Space

      Retail space available for rent in Mount Sinai, New York.
      21-51 New York 25A, Mount Sinai, NY
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent near Port Jefferson Village.
    Where is this office units located?
    The property is located at 28 N Country Rd Mount Sinai, NY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Prime location near Port Jefferson Village, Long Island Railroad, and two local hospitals.; Modified gross leases are available.; Gas and water included in lease.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Marian Campi-Conde
    Real Estate License ID: NY #10401290062
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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
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