Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5499-5505 Nesconset Hwy Mount Sinai, NY 11766
    Back to Search
    Property profile & analytics

    5499-5505 Nesconset Hwy, Mount Sinai, NY 11766

    View on Map
    • Retail properties & Spaces
    • 131,396 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 5499-5505 Nesconset Hwy

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional multi-tenant medical office building, located at 5499-5505, 5507 Nesconset Highway in the Mount Sinai/Port Jefferson submarket of Suffolk County, offers a unique leasing opportunity. The property boasts a total of 131,396 square feet, with a significant 61,577 square feet currently vacant and available for lease. Spaces range from a minimum of 646 square feet to a maximum contiguous space of 45,409 square feet, providing flexibility for various medical practices and businesses. Eleven individual spaces are currently available. The building's diverse property type designation encompasses retail, office, and industrial uses, making it suitable for a wide range of tenants. Ample parking is provided with 570 spaces available for tenants and visitors. This prime location in a thriving medical submarket presents an excellent opportunity for businesses seeking high-visibility space and convenient access for patients and clients. The property's size and layout offer significant potential for expansion or consolidation, catering to both established practices and emerging healthcare providers. Interested parties are encouraged to inquire about available space and lease terms. The property is currently designated for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mount Sinai
    County
    Suffolk
    State
    New York
    Longitude
    -73.0325
    Latitude
    40.9306

    Comparable in this City

    • Value Estimation by Request
      87,000 SF

      12 Myrtle St

      Medical Office Space
      12 Myrtle St, Mount Sinai, NY 11766
      View Details
    • Value Estimation by Request
      88,000 SF

      12 Myrtle St

      Office Spaces
      12 Myrtle St, Mount Sinai, NY 11766
      View Details
    • Value Estimation by Request
      3,000 SF

      9 Myrtle St

      Retail properties & Spaces
      9 Myrtle St, Mount Sinai, NY 11766
      View Details
    • Value Estimation by Request
      4,200 SF

      561 Ny-25A

      Retail properties & Spaces
      561 Ny-25A, Mount Sinai, NY 11766
      View Details
    • Value Estimation by Request
      2.70 Acres

      295 Ny-25A

      Land
      295 Ny-25A, Mount Sinai, NY 11766
      View Details
    • Value Estimation by Request
      22,724 SF

      21-51 Route 25A

      Individual retail properties
      21-51 Route 25A, Mount Sinai, NY 11766
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      87,000 SF

      Commercial Development Sites on Route 25A

      Two contiguous commercial development sites for sale on Route 25A.
      12 Myrtle St, Mt Sinai, NY 11766
      View Details
    • Contact for pricing
      4,210 SF

      Mount Sinai Mixed-Use Investment

      Two buildings with restaurant, apartment, and cottage; 100% occupancy.
      749 Mount Sinai Coram Rd, Mount Sinai, NY 11766
      View Details
    • $480,000
      1.28 Acres

      Vacant Land in Mount Sinai

      Vacant land in historic district with winter waterview.
      28 Rocky Hill Rd, Mount Sinai, NY 11766
      View Details
    • $8,500,000

      Mount Sinai Land For Sale

      Commercial land available on Route 25A in Mount Sinai.
      306 Route 25A, Mount Sinai, NY 11766
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Retail and Medical Office Space

      Planned development with retail, medical office, and luxury rentals.
      2 Myrtle St, Mt Sinai, NY 11766
      View Details
    • Contact for pricing

      Retail and Medical Development Opportunity

      Land available for retail, medical office, and luxury rentals.
      12 Myrtle St, Mount Sinai, NY 11766
      View Details
    • Contact for pricing
      5,000 SF

      Divisible Pad Site For Rent

      Divisible pad site with drive-through available for rent.
      9 Myrtle St, Mt Sinai, NY 11766
      View Details
    • $14 SF/Yr

      Multi-Tenant Office Building

      Modified gross terms include gas and water, with fiber optic service, elevator access, and on-site parking.
      28 N Country Rd, Mount Sinai, NY 11766
      View Details
    • Contact for pricing

      Mount Sinai Office Space Available

      Office space for rent near Port Jefferson Village.
      28 N Country Rd, Mount Sinai, NY 11766
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5499-5505 Nesconset Hwy
    Mount Sinai, NY 11766
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5499-5505 Nesconset Hwy, Mount Sinai, NY, 11766
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!