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    191 Terry Rd Smithtown, NY 11787

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    191 Terry Rd Smithtown, NY 11787

    View on Map
    • Office buildings
    • 4,888 SF
    • 0.31 lot acres
    For Lease
    $22 SF/Yr
    View Listing →
    Smithtown Office/Medical Space For Rent For Lease
    $22 SF/Yr
    1,000 SF

    Smithtown Office/Medical Space For Rent

    1,000 SF office/medical space in Smithtown, close to hospital.

    191 Terry Rd, Smithtown, NY
    View Listing
    Property ID
    US63-6116152
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Michael Lebit PC / Law Firm
    • Nicholas A Gabriele & Associates / Law Firm
    • Law Offices of Frank S Scagluso, P.C. / Law Firm

    Property Details for 191 Terry Rd

    Lot size
    0.31 lot acres
    Property size
    4,888 SF
    Property type
    Office buildings
    APN
    0800-134.00-05.00-021.000
    APU
    800134000500021000

    Description

    This exceptional 5,200 square foot office building, located at 191 Terry Road in Smithtown, New York, presents a unique investment opportunity. Situated on a quarter-acre lot in Suffolk County, this newly updated building boasts three floors, each with its own private entrance, offering unparalleled flexibility and privacy. Ideal for medical practices or legal offices, the property is in excellent condition and features prominent signage. The building is fully alarmed, ensuring security and peace of mind. The asking price is $945,000, with annual property taxes totaling $13,600. The price per square foot is $181.73. This versatile space is perfect for a variety of professional uses and represents a compelling opportunity for discerning buyers seeking a well-maintained, conveniently located office building in a thriving community. The property's prime location in Smithtown, NY 11787, offers easy access to major transportation routes and a wealth of amenities. This is a must-see property for any business seeking a prestigious and functional workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,227,000
      Market price range: $1.23M - $3.69M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Smithtown
    County
    Suffolk
    State
    New York
    Longitude
    -73.1681
    Latitude
    40.844
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $500
    $6,500
    $7,000
    -
    $57,471
    $747,126
    $804,597

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      2.05 Acres

      1134 Jericho Tpke

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      1134 Jericho Tpke, Smithtown, NY 11787
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      0.37 Acres

      525 Jericho Tpke

      OFFICE BUILDING • 0.37 Acres
      525 Jericho Tpke, Smithtown, NY 11787-2619
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      1.50 Acres

      895 Jericho Tpke

      PROFESSIONAL BUILDING • 1.50 Acres
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      OFFICE BUILDING • 1.20 Acres
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      5,200 SF

      Smithtown Retail and Office Building

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      Smithtown Commercial Investment Opportunity

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      3,150 SF

      Professional Office Condo in Smithtown

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      Smithtown Office Space For Rent

      Office space available for rent in Smithtown, New York.
      811 W Jericho Tpke, Smithtown, NY 11787
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    • $3,000 /Mo

      Smithtown Office Space for Rent

      Office space in Smithtown's desirable business district.
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      9,000 SF

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      New Medical Office Park

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      View Details
    View Listing
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    191 Terry Rd
    Smithtown, NY 11787
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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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    191 Terry Rd, Smithtown, NY, 11787

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