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    240 Patchogueyaphank Road unit 2 East Patchogue, NY 11772

    View on Map
    For Sale
    $3,699,000

    SINGLE_FAMILY - East Patchogue, NY

    Type:Office
    Added:
    Mar 14, 2022
    Days on Market:
    1480
    Last Refresh:
    Apr 1 at 10:06 am

    Property Features for 240 Patchogueyaphank Road unit 2

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    commercial
    Standard status
    Active
    APN
    0200-975-61-03-00-002-000

    Taxes and HOA fees

    TaxAnnualAmount
    28549

    We can help!

    Listing Contact
    F Sibel S. Huryilmaz
    F Sibel S. Huryilmaz

    Listing agent F Sibel S. Huryilmaz License #40HU0955821

    Listing office Douglas Elliman Real Estate 1700 Lakeville Rd, Huntington Station, NY

    Listing date Mar 14, 2022

    MLS# L3383143

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    East Patchogue Investment Property

    This professional investment property is for sale. It features a triple net lease and is one hundred percent occupied, with plenty of parking space available. Additional locations are available in Bayshore, Commack, and East Patchogue. These listings can be sold separately or as a bundle. Property information, including the property profile, lease abstract, and rent schedule, is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Darren Hirsch, MD Physician Patchogue Ortho Dental Office Dentist In Patchogue Dental Office Joseph P. Bonafede, ... Physician Rubin Orthodontics Dental Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    East Patchogue
    County
    Suffolk
    State
    New York
    Longitude
    -72.977843
    Latitude
    40.773933

    Nearby Similar for Sale

    • $3,950,000

      East Patchogue Investment Property

      Triple net lease property, 100% occupied, ample parking.
      240 Patchogueyaphank Road 2, East Patchogue, NY 11772
      View Details
    • $2,650,000
      900 SF

      East Patchogue Industrial Property

      Turnkey industrial yard with strong compliance and redevelopment flexibility.
      36 Chapel Ave, East Patchogue, NY 11772
      View Details
    • $1,200,000

      Residential Lot in East Patchogue

      0.5 acre residential lot for sale in East Patchogue.
      7 Reel St, East Patchogue, NY
      View Details

    FAQs

    What type of property is this?
    Office building - Triple net lease property, 100% occupied with ample parking.
    Where is this office building located?
    The property is located at 240 Patchogueyaphank Road unit 2 East Patchogue, NY.
    What is the asking price?
    The asking price for this property is $3,699,000.
    What are key features of this property?
    This property features: Professional investment property with a triple net lease.; One hundred percent occupied.; Plenty of parking space.
    (516) 650-2966
    We can help!
    Listing Contact
    F Sibel S. Huryilmaz
    F Sibel S. Huryilmaz
    Real Estate License ID: 40HU0955821
    Learn More
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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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