Patchogue Retail/Service Station
For Sale
Contact for pricing
445 E Main St, Patchogue, NY 11772
Prime retail/service station on a highly visible, signalized corner.
Property Size2,029 SF
Lot Size0.37 Acres
Price / SF$418.93
Days on Market602
Property Features for 445 E Main St
General Information
Standard status
Active
Size
2,029 SF
Lot size
0.37 Acres
Property subtype
Retail
Zoning
J6
Occupancy
100%
Building Details
Year Built
1918
Listing Agency:
Douglas Elliman Commercial Division
(631) 858-2405
Listed By:
Michael Murphy · License #NY 10491211076
Source:
Crexi
Added: Dec 17, 2024
Changed: Aug 10
Last Checked: Aug 10 at 9:08AM
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 Douglas Elliman Commercial Division
Investment Insights
Based on property information with market context.
This 2,029 square foot retail/service station is positioned on a highly visible, signalized corner in Patchogue. The property is located at a 4-way traffic light along Montauk Highway, a heavily traveled road, and benefits from traffic counts exceeding 25,000 vehicles per day. Situated on a 0.37-acre lot with 105 feet of frontage and three curb cuts, the site provides accessibility and flexibility for retail or service-based businesses. The existing building is configured as an auto service center with three drive-ins, and zoning permits continued use as a service station. A sewer line is accessible, enhancing redevelopment potential. This location is suitable for an owner-user, investor, or national retailer seeking a high-traffic corner location. The property is surrounded by retailers and restaurants and is located minutes from Patchogue Village. It is a value-add or redevelopment opportunity in one of Suffolk County’s active commercial corridors.
Key Highlights
- High‑traffic corner location on Montauk Highway with over 25,000 vehicles per day.
- 2,029 ± SF Retail/Service Station with existing auto service center configuration (three drive‑ins).
- 0.37‑acre lot with 105 feet of frontage and three curb cuts providing unmatched accessibility.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,669
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$793,380
$793.4K
Cap Rate 7%
$566,700
$566.7K
Cap Rate 9%
$440,767
$440.8K
Market Conditions
NOI Build-Up for 2,029 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.9K $30.00/SF
− Vacancy
−$4.2K −$2.07/SF
EGI
$56.7K $27.93/SF
− OpEx
−$17.0K −$8.38/SF
NOI
$39.7K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$793,380
Cap Rate 7%
$566,700
Cap Rate 9%
$440,767
Alternative Uses
Best Use
Retail
$566.7K
$495.9K – $661.2K
NOI $39,669 @ 7.0% cap · market cap 4.67%
Second Best
Industrial
$411.5K
$360.1K – $480.1K
NOI $28,807 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$618.1K
$540.9K – $721.2K
NOI $43,269 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
36k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 7%
Electronics 7%
Home Improvements & Furnishings 2%
7-Eleven
Shops & Services
13,766 visits/mo
0.4 miles
Shell
Shops & Services
6,242 visits/mo
0.5 miles
Bethpage Federal Credit Union
Shops & Services
5,783 visits/mo
0.4 miles
Sunoco
Shops & Services
4,176 visits/mo
0.3 miles
Giovanni's
Dining
2,694 visits/mo
0.2 miles
Demographics for 11772, NY
44,459
Population
18,478
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
89%
High-School Grad
16.1 sq mi
ZIP Area
2,761
Density / Sq Mi
$105,246
Median Household Income
$55,170
Median Earnings
$2,015
Median Rent
$450,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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- Blue Point Auto Body — 67 Kennedy Ave, Blue Point, NY 11715
- Cash for ATVS AND DIRTBIKES — 83 Crescent St, Patchogue, NY 11772
Frequently Asked Questions
What type of property is this?
Auto shop - Prime retail/service station on a highly visible, signalized corner.
Where is this auto shop located?
The property is located at 445 E Main St Patchogue, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: High‑traffic corner location on Montauk Highway with over 25,000 vehicles per day.; 2,029 ± SF Retail/Service Station with existing auto service center configuration (three drive‑ins).; 0.37‑acre lot with **105 feet of frontage and three curb cuts providing unmatched accessibility.**
