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    207 Hallock Rd Stony Brook, NY 11790

    Sponsored
    For Lease
    $24 SF/Yr

    Central Suffolk, NY medical office building, 15,390 SF available.

    Lot size:
    25,489 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 25,489 square foot Class B medical office building, located at 207 Hallock Road in Stony Brook, New York, presents a unique investment opportunity. Situated on a 1.16-acre lot at the intersection of Hallock Road and Route 347 (Nesconset Highway), this two-story building offers convenient access and high visibility. Built in 1973 and renovated in 2015, the property boasts 9-foot ceilings and ample parking with 130 spaces. The building features an elevator servicing all floors. Currently, there is 15,390 square feet of vacant space available, divisible into units ranging from a minimum of 985 square feet to a maximum contiguous space of 3,002 square feet. The property is zoned J2 Commercial and is located in the Central Suffolk submarket of Suffolk County. Leases are modified gross, with heat included and separately metered electric. Its prime location across from Brooktown Plaza ensures high traffic and visibility. This property is ideal for medical practices seeking flexible and well-appointed space in a thriving community.

    Property Features for 207 Hallock Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    25,489 SF
    Class
    B
    Total Rate
    50978

    Building Details

    Year Built/Renovated
    1973/2015
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 208
    Size
    3,002 SF
    Space
    Suite 210
    Size
    1,786 SF
    Rate per SF
    $24
    Space
    Suite 211
    Size
    1,030 SF
    Rate per SF
    $24
    Space
    Suite 201-202
    Size
    1,825 SF
    Rate per SF
    $24
    Space
    Suite 212
    Size
    2,188 SF
    Rate per SF
    $24
    Space
    Suite 204
    Size
    1,042 SF
    Rate per SF
    $24
    Space
    Suite 205/206
    Size
    1,602 SF
    Rate per SF
    $24
    Space
    Suite 209
    Size
    985 SF
    Rate per SF
    $24
    Space
    Suite 207
    Size
    1,930 SF
    Rate per SF
    $24

    HighLights

    • Professional office and medical suites available for lease.
    • Immediate occupancy or build‑to‑suit options available.
    • Elevator service to all floors.
    • Secure 24/7 tenant access.
    • On‑site parking for 130+ vehicles.
    • Conveniently located at the intersection of Hallock Road and Route 347 (Nesconset Highway).
    Property Profile Location Intelligence

    Current Use by Public Records

    Grundfast Law Firm Attorney Narcotics Anonymous Addiction Treatment Center Peter Smith, DPM Podiatrist Stony Brook Oral ... Oral Surgeon Cloughley Doreen DDS Dentist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Stony Brook
    County
    Suffolk
    State
    New York
    Longitude
    -73.1234352
    Latitude
    40.8749675

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    FAQs

    What type of property is this?
    Medical office - Central Suffolk, NY medical office building, 15,390 SF available.
    Where is this medical office located?
    The property is located at 207 Hallock Rd Stony Brook, NY.
    What is the lease rate?
    The lease rate is $0.00-$24 SF/Yr.
    What are key features of this property?
    This property features: Professional office and medical suites available for lease.; Immediate occupancy or build-to-suit options available.; Elevator service to all floors.
    Request Owner's contact information
    207 Hallock Rd Stony Brook, NY 11790
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    Stony Brook, NY 11790
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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
    207 Hallock Rd Stony Brook, NY 11790
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