Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    588 Mill Rd Coram, NY 11727

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,500,000

    3.12 acres of vacant land zoned J2.

    Lot size:
    3.12 Acres

    Property Features for 588 Mill Rd

    General Information

    Lot size
    3.12 Acres

    We can help!

    Listing Contact
    Jon Winzelberg
    Jon Winzelberg
    Source: Moodyscre

    Listing Agent: Jon Winzelberg

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Vacant Land on Route 112

    The subject property consists of 3.12 acres of vacant land zoned J2 (J Business 2). The site features approximately 200 feet of frontage on Route 112 and 220 feet of frontage on Mill Road. The property is located just south of Middle Country Road. It is near Home Depot to the east and the newly developed Wincoram Commons apartments to the west. Permitted uses as of right include retail stores, professional offices, garden centers, and day care centers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Coram
    County
    Suffolk
    State
    New York
    Longitude
    -72.998293
    Latitude
    40.867016

    Nearby Similar for Sale

    • $424,999

      Bretton Woods Resort-Style Living

      3-bedroom condo in amenity-rich Bretton Woods community.
      320 Woodland Ct, Coram, NY 11727
      View Details
    • $279,990

      Renovated Apartment with Clubhouse Amenities

      Renovated 2-bedroom apartment with extensive amenities in Coram, NY.
      193 N Pt Cir Cir, Coram, NY 11727
      View Details
    • $214,999

      North Isles Community Apartment

      Apartment in North Isles community with many amenities.
      2 El Camino Ct, Coram, NY 11727
      View Details
    • $199,990

      Inviting Co-op in Amenity-Rich Community

      Comfortable 1-bedroom co-op with resort-style amenities and convenient location.
      30 Kiowa Ct, Coram, NY 11727
      View Details
    • $449,000

      Reimagined Townhouse with Modern Amenities

      Sophisticated townhouse featuring modern updates and community lifestyle amenities.
      6 Fox Path, Coram, NY 11727
      View Details
    • $250,000

      Renovated End Unit Apartment

      Renovated 2-bedroom, 1-bath apartment in North Isle community.
      51 Pointe Cir S 51, Coram, NY 11727
      View Details
    • $239,000

      Updated First-Floor Co-Op Apartment

      Updated 2-bedroom co-op with modern amenities and convenient location.
      71 Pointe Cir S 71, Coram, NY 11727
      View Details
    • $250,000

      Remodeled Apartment with Community Amenities

      Upper-level unit featuring modern comfort, style, and community amenities.
      202 Pointe Cir North 202, Coram, NY 11727
      View Details
    • $249,999

      Coram Upper Unit Apartment

      Pristine upper unit with premium community amenities.
      38 Pt Cir South Upper, Coram, NY 11727
      View Details
    • $239,000

      First-Floor Co-op with Resort Amenities

      Two-bedroom co-op with updated kitchen and resort-style amenities.
      163 Pointe Cir N 163, Coram, NY 11727
      View Details
    • $219,000

      Deluxe Unit in Coram

      One-bedroom unit with modern amenities in a well-maintained building.
      29 El Camino Ct, Coram, NY 11727
      View Details
    • $220,000

      Updated First Floor Apartment

      Updated one-bedroom apartment with modern amenities and dedicated parking.
      27 Cheyenne Ct, Coram, NY 11727
      View Details

    FAQs

    What type of property is this?
    Land - 3.12 acres of vacant land zoned J2.
    Where is this land located?
    The property is located at 588 Mill Rd Coram, NY.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - 3.12 acres of vacant land zoned J2 (J Business 2) offering diverse development opportunities.; - Located with **frontage on both Route 112 (200 ft) and Mill Road (220 ft) providing excellent visibility and access.**; - Permitted uses as of right include retail stores, professional offices, garden centers, and day care centers.
    (516) 933-8880
    Request Owner's contact information
    588 Mill Rd Coram, NY 11727
    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.
    588 Mill Rd
    Coram, NY 11727
    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
    588 Mill Rd Coram, NY 11727
    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

    We can help!
    Listing Contact
    Jon Winzelberg
    Jon Winzelberg
    (516) 933-8880
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.