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    East Quogue Retail Opportunity Title is generated by Realmo AI

    494 Montauk Highway, East Quogue, NY 11942

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    For Sale
    $1,200,000

    SINGLE_FAMILY - East Quogue, NY

    Type:Retail
    Property size:
    2,512 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $477/SF
    Added:
    Mar 21, 2024
    Days on Market:
    792
    Last Refresh:
    May 21 at 3:06 pm

    Property Features for 494 Montauk Highway

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    VB
    Parking
    9
    Standard status
    Active
    APN
    0900-315-00-03-00-013-001
    Size
    2,512 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8804

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating), Forced Air

    Building Details

    Year built
    1978
    Floors in Building
    1

    We can help!

    Listing Contact
    Richard Connelly
    Richard Connelly

    Listing agent Richard Connelly License #10401297612

    Listing office Douglas Elliman Real Estate 14 W Montauk Hwy, Huntington Station, NY

    Listing date Mar 21, 2024

    MLS# L3539473

    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.

    HighLights

    • High‑traffic location on Montauk Hwy.
    • Zoned Village Business, offering diverse business opportunities.
    • Newer 50‑year metal roof.
    • Newer propane gas furnace.
    • Building size: 2,512 sq ft on .26 of an acre.
    • Additional 1.01‑acre adjacent lot available.

    Overview

    A 2,512 sq ft building is available for purchase on 0.26 acres. The property features a newer 50-year metal roof and a newer propane gas furnace. Zoned Village Business (VB), the property is located on highly-trafficked Montauk Hwy. An additional 1.01-acre adjacent lot is also available for sale. The existing hardware store business and inventory, excluding the machinery rental business, may be purchased for an additional cost. The property is suitable for contractors needing outdoor storage, investors, or developers. Located in East Quogue, NY, this property presents an opportunity to create a business in the Hamptons.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ryder Hardware Building Supply

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    East Quogue
    County
    Suffolk
    State
    New York
    Longitude
    -72.579892
    Latitude
    40.843156

    Nearby Similar for Sale

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    • $2,450,000

      East Quogue Multi-Family Investment

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    • $2,400,000
      2,512 SF

      East Quogue Commercial Opportunity

      2,512 sq ft building on 1.27 acres for sale.
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      View Details

    FAQs

    What type of property is this?
    Storefront property - 2,512 SF building on Montauk Hwy, East Quogue.
    Where is this storefront property located?
    The property is located at 494 Montauk Highway East Quogue, NY.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: High‑traffic location on Montauk Hwy.; Zoned Village Business, offering diverse business opportunities.; Newer 50‑year metal roof.
    (631) 953-5750
    We can help!
    Listing Contact
    Richard Connelly
    Richard Connelly
    Real Estate License ID: 10401297612
    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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