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    1860 Walt Whitman Rd Melville, NY 11747

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    For Lease
    Contact for pricing

    Prime Melville Office Space Available Now

    Lot size:
    42,000 SF

    Property Features for 1860 Walt Whitman Rd

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    42,000 SF
    Total Rate
    83475

    Building Details

    Stories
    1

    Spaces For Lease

    at 1860 Walt Whitman Rd, Melville, NY 11747 Contact us
    Unit Ground Floor

    $23 /Mo

    Size
    2,900 SF
    Contact us
    Unit Available Space 2

    $23 /Mo

    Size
    3,640 SF
    Contact us

    We can help!

    Listing Contact
    David Hunt
    David Hunt

    Listing Agency: Hunt Corporate Services Inc Listing Agent: David Hunt

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

    Learn more

    Property Insight Report

    Overview

    This exceptional single-story office building, located at 1860 Walt Whitman Road in Melville, New York, offers 42,000 square feet of premium executive office space. Situated on a 4.11-acre lot, the building boasts convenient access to the Long Island Expressway, making commuting a breeze. The property features ample parking with 185 spaces available for tenants and their guests. Currently, there are two immediately available suites, perfectly suited for businesses seeking efficient and modern workspaces. One suite offers 2,900 square feet, while the other provides 3,640 square feet of contiguous space. The minimum divisible space is 2,900 square feet, allowing for flexibility in tenant needs. A total of 10,420 square feet is currently vacant, presenting a significant opportunity for expansion or multiple occupancy. The building is a single-story structure, eliminating the need for elevators. This property is ideally situated in Suffolk County, New York, with the zip code 11747. The building's convenient location and substantial available space make it an excellent choice for businesses seeking a prominent presence in the Melville area. Contact us today to schedule a viewing and explore the possibilities of establishing your business in this exceptional location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McAndrew Conboy & Prisco, ... Law Firm TemPositions Opus Staffing Employment Agency Phoenix Search Group Employment Agency Avita Pharmacy 1063 Pharmacy ANGELA J COWAN ... Accounting Firm

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Law Firm Skin Care Clinic Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Melville
    County
    Suffolk
    State
    New York
    Longitude
    -73.4259461
    Latitude
    40.7688026

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    FAQs

    What type of property is this?
    Office property - Prime Melville Office Space Available Now
    Where is this office property located?
    The property is located at 1860 Walt Whitman Rd Melville, NY.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: All suites are ground floor, near the building entrance.; Ample parking (185 spaces) is conveniently located near building entrances.; Low loss factor of 11%.
    (631) 754-2300 Call to check price and availability
    Request Owner's contact information
    1860 Walt Whitman Rd Melville, NY 11747
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    Melville, NY 11747
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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
    1860 Walt Whitman Rd Melville, NY 11747
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    Contact for Pricing
    Please call us for current price
    and status of this listing David Hunt
    David Hunt
    (631) 754-2300 (516) 937-1000 (516) 807-1000
    Learn more
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