Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    718 Old Medford Ave Patchogue, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space with high traffic and residential backup.

    Type:RETAIL
    Property size:
    2,300 SF
    Lot size:
    1.26 Acres
    Added:
    Nov 26, 2024
    Days on Market:
    523
    Last Refresh:
    Apr 5 at 11:13 pm

    Property Features for 718 Old Medford Ave

    General Information

    Standard status
    Active
    Size
    2,300 SF
    Lot size
    1.26 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 718 Old Medford Ave Contact us

    We can help!

    Listing Contact
    Billy Diakakis

    Listing agent Billy Diakakis

    Listing office Sabre Real Estate Group, LLC

    Listing date Nov 26, 2024

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of Sabre Real Estate Group, LLC

    Overview

    Retail Space on Route 112

    This retail space is located on Route 112, which experiences traffic of over 25,000 vehicles per day. The property benefits from a dense residential area nearby. It is located in close proximity to both the Long Island Expressway (LIE) and Sunrise Highway. A new Starbucks is opening soon nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    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
    Patchogue
    County
    Suffolk
    State
    New York
    Longitude
    -73.0086
    Latitude
    40.7899

    Nearby Similar for Lease

    • $5,000/Mo

      Main Street Office Space Available

      Well-maintained office unit on Main Street in Patchogue, NY.
      178 W Main Street, Patchogue, NY 11772
      View Details
    • $20 SF/Yr

      Flexible Warehouse and Office Space

      Renovated office and warehouse space in Patchogue, NY.
      429 W Main Street, Patchogue, NY 11772
      View Details
    • $4,800/Mo

      Downtown Patchogue Village Commercial Space

      Prime commercial space in bustling Patchogue Village, great visibility.
      42-44 S Ocean Avenue, Patchogue, NY 11772
      View Details
    • Contact for pricing

      Flexible Warehouse and Office Space

      Renovated warehouse and office space in Patchogue with modern finishes.
      429 W Main St, Patchogue, NY 11772
      View Details
    • $1,975/Mo

      Prime Commercial Lease Space Available

      Thriving commercial space in Patchogue, NY, with high visibility.
      66A Medford Ave A, Patchogue, NY 11772
      View Details
    • Contact for pricing

      Industrial Warehouses with Yard

      Two warehouses totaling 6,100 SF with parking.
      464 E Main St, Patchogue, NY 11772
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      Class A medical office building with prominent Main Street frontage.
      214 E Main St, Patchogue, NY 11772
      View Details
    • $12 SF/Yr

      Spacious Pet-Friendly Patchogue Apartment

      Three-bedroom, one-bath apartment in Patchogue with shared backyard.
      104 River Ave, Patchogue, NY 11772
      View Details
    • $12 SF/Yr

      Spacious Patchogue Apartment For Rent

      Pet-friendly 3-bedroom apartment near Patchogue Village.
      96 River Ave, Patchogue, NY 11772
      View Details
    • $31 SF/Yr

      Restaurant Space on Main Street

      Corner restaurant space available for rent on Main Street.
      1 Village Green, Patchogue, NY
      View Details
    • $12 SF/Yr

      Renovated One Bedroom Apartment

      Renovated one-bedroom apartment with parking and shared backyard.
      101 Miramar Ave B, Patchogue, NY 11772
      View Details
    • Contact for pricing

      Freestanding Building on Sunrise Highway

      Freestanding building with excellent frontage and high traffic volume.
      106 S Service Rd, Patchogue, NY
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space with high traffic and residential backup.
    Where is this retail space located?
    The property is located at 718 Old Medford Ave Patchogue, NY.
    What are key features of this property?
    This property features: High traffic volume with over 25,000 vehicles passing daily.; Located in a dense residential area.; Close proximity to the Long Island Expressway (LIE).
    (516) 874-8070 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Billy Diakakis
    Learn More
    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.
    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

    718 Old Medford Ave, Patchogue, NY

    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!