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    Prime Commercial Land Opportunity Title is generated by Realmo AI

    3013 NY-22, Patterson, NY 12563

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    40.72 acres of commercially zoned land on Route 22.

    Type:Land
    Lot size:
    40.72 Acres
    Added:
    Aug 16, 2023
    Days on Market:
    1025
    Last Refresh:
    May 12 at 8:57 pm

    Property Features for 3013 NY-22

    General Information

    Standard status
    Active
    Lot size
    40.72 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Brian McGrath

    Listing agent Brian McGrath License #NY REB.0791807

    Listing office McGrath Realty Inc

    Listing date Aug 16, 2023

    Source Crexi

    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 McGrath Realty Inc

    HighLights

    • 40.72 commercially zoned acres with 10.35 +/- usable acres on Route 22.
    • High visibility with significant frontage on Route 22 and an annual average daily traffic count of 15,953.
    • Zoned C1 Commercial District, permitting a wide range of uses including retail, self‑storage, and recreational facilities.
    • Utilities available: underground conduit in place with electric, natural gas, and telephone; potential to tie into Patterson’s sewage treatment plant.
    • 10 +/- usable acres are predominantly level and cleared.
    • Located near Tractor Supply Co., Acme Shopping Center, JRS Pharma, Clancy Relocation and Logistics, and Putnam County National Bank.

    Overview

    This commercial opportunity features 40.72 acres of commercially zoned land in one parcel, with approximately 10.35 usable acres. The property is accessible from Route 311 via a 50-foot-wide driveway. The surrounding area includes Tractor Supply Co. and Acme Shopping Center on Route 311, as well as JRS Pharma, Clancy Relocation and Logistics, and the Putnam County National Bank on Route 22. Zoned C1, Commercial District, the property allows for various uses, including self-storage facilities, retail stores, research and development, veterinary hospitals, health and fitness centers, indoor and outdoor recreational sports facilities, and business and professional offices. An underground conduit is in place with electric, natural gas, and telephone, with the potential to connect to Patterson’s sewage treatment plant. The approximately 10 usable acres are predominantly level and cleared. The acreage is elevated above the surrounding terrain, offering views overlooking a lake that fronts Route 22. The site benefits from high visibility due to its significant frontage on Route 22, which sees an annual average daily traffic count of 15,953. The property can be sold subject to approval.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Patterson
    County
    Putnam
    State
    New York
    Longitude
    -73.5932
    Latitude
    41.4968

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    FAQs

    What type of property is this?
    Commercial land - 40.72 acres of commercially zoned land on Route 22.
    Where is this commercial land located?
    The property is located at 3013 NY-22 Patterson, NY.
    What is the asking price?
    The asking price for this property is $1,390,000.
    What are key features of this property?
    This property features: 40.72 commercially zoned acres with **10.35 +/- usable acres on Route 22.**; **High visibility with significant frontage on Route 22** and an annual average daily traffic count of 15,953.; Zoned C1 Commercial District, permitting a wide range of uses including retail, self‑storage, and recreational facilities.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian McGrath
    Real Estate License ID: NY REB.0791807
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    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.

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