Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    351 N Service Rd Patchogue, NY 11772

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available on a major regional trade area.

    Property size:
    1,080 SF
    Lot size:
    11.04 Acres

    Property Features for 351 N Service Rd

    General Information

    Size
    1,080 SF
    Lot size
    11.04 Acres

    We can help!

    Listing Contact
    Stu Fagen
    Stu Fagen
    Source: Moodyscre

    Listing Agent: Stu Fagen

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

    Learn more

    Overview

    Retail Space on Sunrise Highway

    This 1,080-square-foot retail space is located at a prominent intersection within a major regional trade area. The property benefits from access to both Sunrise Highway and Waverly Avenue.
    Location Intelligence

    Current Use by Public Records

    Davis Visionworks Optometrist Dr. Dina Castagnino Optometrist

    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
    Patchogue
    County
    Suffolk
    State
    New York
    Longitude
    -73.026199
    Latitude
    40.778198

    Nearby Similar for Lease

    • $5,000 /Mo
      1,528 SF

      Patchogue Retail/Office Space For Rent

      1528 sq ft commercial space in downtown Patchogue, NY.
      65 N Ocean Ave, Patchogue, NY 11772
      View Details
    • $1,000 /Mo
      100 SF

      Downtown Patchogue Office Space

      Professional suites in a prime downtown location with high visibility.
      65-69 N Ocean Ave, Patchogue, NY 11772
      View Details
    • $3,000 /Mo
      702 SF

      Downtown Patchogue Mixed-Use Space

      702 sq ft commercial space in vibrant downtown Patchogue.
      69 N Ocean Ave, Patchogue, NY 11772
      View Details
    • $2,100 /Mo
      800 SF

      Prime Retail/Office Space Available

      800 sqft storefront/office space with high visibility and parking.
      218 Medford Ave, Patchogue, NY 11772
      View Details
    • $5,000 /Mo

      Office Space in Patchogue, NY

      Office space available for rent in Patchogue, New York.
      178 W Main St, Patchogue, NY 11772
      View Details
    • $2,200 /Mo
      15,246 SF

      Patchogue Office Space with Basement

      Office space for rent with basement near downtown Patchogue.
      501 W Main St, Patchogue, NY 11772
      View Details
    • $2,400 /Mo
      850 SF

      Patchogue Office Space For Rent

      850 sq ft office space available in Patchogue, NY.
      605 Route 112, Patchogue, NY 11772
      View Details
    • $4,800 /Mo
      1,600 SF

      Downtown Patchogue Commercial Space Available

      Prime commercial space in Patchogue Village with high visibility.
      42-44 S Ocean Ave, Patchogue, NY 11772
      View Details
    • $17 SF/Yr
      1,800 SF

      Patchogue Warehouse with Overhead Door

      1,800+/- sq ft warehouse space available for rent.
      380 Grove Ave, Patchogue, NY 11772
      View Details
    • Contact for pricing
      1,376 SF

      Restaurant Space in Patchogue

      Restaurant space available in thriving Patchogue, near downtown and transit.
      35-37 S Ocean Ave, Patchogue, NY 11772
      View Details
    • Contact for pricing
      7,701 SF

      Restaurant and Retail Space Available

      Prime location near downtown Patchogue and transportation.
      59 S Ocean Ave, Patchogue, NY 11772
      View Details
    • Contact for pricing
      21,285 SF

      Patchogue Retail Space Available

      Large Retail Space, High Visibility, Suffolk County
      700 Service Rd, Patchogue, NY 11772
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available on a major regional trade area.
    Where is this retail space located?
    The property is located at 351 N Service Rd Patchogue, NY.
    What are key features of this property?
    This property features: - Located on the best intersection of this major regional trade area; - Access from both Sunrise Highway and Waverly Avenue
    (516) 874-8070
    Request Owner's contact information
    351 N Service Rd Patchogue, NY 11772
    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.
    351 N Service Rd
    Patchogue, NY 11772
    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
    351 N Service Rd Patchogue, NY 11772
    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
    Stu Fagen
    Stu Fagen
    (516) 874-8070
    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.