Office Building with Surface
New
For Sale
Contact for pricing
97 N Sea Road, Southampton, NY 11968
Four suites and three tenants occupy a fully leased office property near Southampton Village.
Property Size6,015 SF
Lot Size1.25 Acres
Price / SF$598.50
Days on Market6
Property Features for 97 N Sea Road
General Information
Standard status
Active
Size
6,015 SF
Class
B
Total Parking Spaces
43
Lot size
1.25 Acres
Property subtype
Office
Zoning
Office Business
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$205,966
Additional Details
Office Units
4
Building Details
Year Built
1997
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Building Size
6,015 SF
Parking Ratio
7.1 per 1,000 SF
Owner Occupied
No
Listing Agency:
Cushman & Wakefield - Melville, New York
(323) 471-4747
Listed By:
Daniel Abbondandolo · License #NY 10401239548
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Sep 1 at 5:59AM
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 Cushman & Wakefield - Melville, New York
Investment Insights
Based on property information with market context.
Offered for sale, this single-story office building contains approximately 6,015 square feet within a 1.25-acre site. The property is divided into four office suites occupied by three tenants and includes approximately 43 surface parking spaces. Constructed in 1997, the building is zoned Office Business.
The property is located near Southampton Village in the East End commercial market. Existing lease expirations fall between January and April 2027, providing a defined point for evaluating continued tenancy, suite repositioning, or owner occupancy subject to the leases in place.
The property is located near Southampton Village in the East End commercial market. Existing lease expirations fall between January and April 2027, providing a defined point for evaluating continued tenancy, suite repositioning, or owner occupancy subject to the leases in place.
Key Highlights
- Approximately 6,015 SF single‑story office building on 1.25 acres
- Four office suites occupied by three tenants
- Fully leased office property near Southampton Village
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
$103,430
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
2.87%
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%
$2,068,600
$2.1M
Cap Rate 7%
$1,477,571
$1.5M
Cap Rate 9%
$1,149,222
$1.1M
Market Conditions
NOI Build-Up for 6,015 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
$168.2K $27.96/SF
− Vacancy
−$30.3K −$5.03/SF
EGI
$137.9K $22.93/SF
− OpEx
−$34.5K −$5.73/SF
NOI
$103.4K $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%
$2,068,600
Cap Rate 7%
$1,477,571
Cap Rate 9%
$1,149,222
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.72M
NOI $103,430 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,271 @ 7.0% cap · market cap 3.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
Explore this area
Business Placement
Demographics for 11968, NY
14,467
Population
10,444
Households
1.4
Avg Household Size
46
Median Age
61%
College-Educated
98%
High-School Grad
26.9 sq mi
ZIP Area
538
Density / Sq Mi
$146,138
Median Household Income
$64,959
Median Earnings
$2,068
Median Rent
$1,171,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Four suites and three tenants occupy a fully leased office property near Southampton Village.
Where is this office building located?
The property is located at 97 N Sea Road Southampton, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Approximately 6,015 SF single‑story office building on 1.25 acres; Four office suites occupied by three tenants; Fully leased office property near Southampton Village
