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    1015 Fort Salonga Rd Northport, NY 11768

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    1015 Fort Salonga Rd Northport, NY 11768

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    • Lifestyle centers
    • 9,917 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1015 Fort Salonga Rd

    Property size
    9,917 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 9,917 square foot medical office building, located at 1015 Fort Salonga Road in Northport, New York, presents a unique investment opportunity. Currently fully vacant, the property offers five individual suites ranging from a minimum of 1,100 square feet to a maximum contiguous space of 8,300 square feet, providing flexibility for various medical practices or related businesses. The building is classified as Retail, Office, and Restaurant, allowing for a diverse range of potential tenants. Its prime location in Suffolk County, with easy access from 11768 zip code, ensures high visibility and convenient access for patients and staff. Ample parking is available with over 100 spaces in a dedicated lot. The property's versatile layout and substantial square footage make it ideal for a single large tenant or multiple smaller practices seeking a collaborative environment. This fully vacant building presents a blank canvas for a new owner to establish a thriving medical center or a mixed-use facility. The property is situated in Northport, NY, offering a strong local market and excellent accessibility. This is a rare opportunity to acquire a significant medical office building in a desirable location. Contact us today to learn more about this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Northport
    County
    Suffolk
    State
    New York
    Longitude
    -73.3162
    Latitude
    40.9072

    Comparable in this City

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      0.28 Acres

      135 Main St

      MINI-MALL • 0.28 Acres
      135 Main St, Northport, NY 11768-1770
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    • Value Estimation
      $7,660,000
      1.80 Acres

      1014 Ft Salonga Rd

      SHOPPING CENTER, STRIP CENTER • 1.80 Acres
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    • Value Estimation
      $10,095,000
      3.70 Acres

      1015-101 9th Ft Salonga Rd

      SHOPPING CENTER, STRIP CENTER • 3.70 Acres
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    • Value Estimation
      $1,085,000
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      20 Sunken Mdw Rd

      MEDICAL CLINIC • 5.57 Acres
      20 Sunken Mdw Rd, Northport, NY 11768-2751
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    • Value Estimation by Request
      3.50 Acres

      820 Ft Salonga Rd

      SHOPPING CENTER, STRIP CENTER • 3.50 Acres
      820 Ft Salonga Rd, Northport, NY 11768-3151
      View Details

    Similar Nearby for Sale

    • $1,750,000
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      Northport Medical Office Building

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    Similar Nearby for Lease

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      Commercial Space For Lease

      Commercial space available for lease in Northport, NY.
      1015 Fort Salonga Rd, Northport, NY 11768
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    • $4,290 /Mo
      18,731 SF

      Northport Medical/Office Suite Available

      Move-in ready medical/office suite for rent in Northport, NY.
      351 Fort Salonga Rd, Northport, NY 11768
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      Northport Village Professional Office Space

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      3,120 SF

      Retail Space in Northport Center

      Retail spaces available in shopping center anchored by Giunta’s Meat Farms.
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      Retail Space in Northport Center

      Retail space with excellent access and visibility on Route 25A.
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    1015 Fort Salonga Rd
    Northport, NY 11768
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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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