Medical Office
For Sale
$2,999,000
240 Patchogueyaphank Road #2, East Patchogue, NY 11772
Located in a multi-tenant medical complex, the space includes on-site surface parking.
Property Size9,270 SF
Price / SF$323.52
Days on Market1686
Property Features for 240 Patchogueyaphank Road #2
General Information
Standard status
Active
Size
9,270 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$28,549
Building Details
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
(516) 746-0440
Listed By:
F Sibel S. Huryilmaz · License #40HU0955821
(516) 650-2966
Source:
Croninreale
Added: Mar 14, 2022
Changed: Oct 23
Last Checked: Oct 23 at 9:50AM
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 Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This approximately 9,270-square-foot commercial condominium is part of a multi-tenant medical office building in East Patchogue. The property has substantial on-site surface parking and shares the complex with healthcare and professional occupants.
Situated along Patchogue Yaphank Road, the property has access to the surrounding East Patchogue area and nearby major roadways.
Situated along Patchogue Yaphank Road, the property has access to the surrounding East Patchogue area and nearby major roadways.
Key Highlights
- Approximately 9,270 square feet of commercial condominium space
- Part of a multi‑tenant medical office building
- Substantial on‑site surface parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$159,401
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,188,020
$3.2M
Cap Rate 7%
$2,277,157
$2.3M
Cap Rate 9%
$1,771,122
$1.8M
Market Conditions
NOI Build-Up for 9,270 SF
Gross rent
$259.2K $27.96/SF
− Vacancy
−$46.7K −$5.03/SF
EGI
$212.5K $22.93/SF
− OpEx
−$53.1K −$5.73/SF
NOI
$159.4K $17.20/SF
Area
Suffolk County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,188,020
Cap Rate 7%
$2,277,157
Cap Rate 9%
$1,771,122
Alternative Uses
Best Use
Office B
$2.28M
$1.99M – $2.66M
NOI $159,401 @ 7.0% cap · market cap 5.32%
Second Best
Healthcare Medical
$2.12M
$1.85M – $2.47M
NOI $148,264 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,685 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Northeast region
Similar Off Market Nearby
- Bellport Animal Hospital — 250 Sunrise Hwy, East Patchogue, NY 11772
Frequently Asked Questions
What type of property is this?
Medical Office Space - Located in a multi-tenant medical complex, the space includes on-site surface parking.
Where is this medical office space located?
The property is located at 240 Patchogueyaphank Road #2 East Patchogue, NY.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Approximately 9,270 square feet of commercial condominium space; Part of a multi‑tenant medical office building; Substantial on‑site surface parking
