Mixed-Use Property with
424 W Main Street, Patchogue, NY 11772
For Sale
$749,000
A second-floor one-bedroom apartment adds residential space above the ground-floor commercial area.
Property Size1,200 SF
Price / SF$624.17
Days on Market22
Property Features for 424 W Main Street
General Information
Standard status
Size
Property subtype
Site & Location
Road Access
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Buildings
Listing Agency:
Lighthouse Realty of L I Corp
(631) 804-0606
Listed By:
Thomas R. Hengen PSA SFR
Source:
Clairedleone
Added: Oct 17
Changed: Nov 7
Last Checked: Nov 7 at 2:19PM
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 Lighthouse Realty of L I Corp
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Investment Insights
Based on property information with market context.
This 1,200-square-foot mixed-use property has a 500-square-foot ground-floor area suited to office or storefront use, with a one-bedroom apartment on the second floor. The commercial space is described for uses including personal services, boutique retail, pet grooming, office, floral, and hobby businesses.
The property is at 424 W Main Street in Patchogue. Plans for condominium and townhome development are noted nearby, down the block.
The property is at 424 W Main Street in Patchogue. Plans for condominium and townhome development are noted nearby, down the block.
Key Highlights
- 1,200‑square‑foot mixed‑use property
- 500‑square‑foot ground‑floor office or storefront area
- Second‑floor apartment with one bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,461
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,220
$469.2K
Cap Rate 7%
$335,157
$335.2K
Cap Rate 9%
$260,678
$260.7K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$36.0K $30.00/SF
− Vacancy
−$2.5K −$2.07/SF
EGI
$33.5K $27.93/SF
− OpEx
−$10.1K −$8.38/SF
NOI
$23.5K $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 Rate 5%
$469,220
Cap Rate 7%
$335,157
Cap Rate 9%
$260,678
Alternative Uses
Best Use
Retail
$335.2K
$293.3K – $391.0K
NOI $23,461 @ 7.0% cap · market cap 3.13%
Second Best
Mixed Use
$305.2K
$267.0K – $356.0K
NOI $21,362 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$365.6K
$319.9K – $426.5K
NOI $25,590 @ 7.0% cap · market cap 3.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 61%
Shops & Services 39%
True Value Hardware
Home Improvements & Furnishings
5,256 visits/mo
0.5 miles
Mobil
Shops & Services
2,479 visits/mo
0.1 miles
CubeSmart Self Storage
Shops & Services
848 visits/mo
0.3 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
$450,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Suffolk County, NY
Properties on Market for Mixed-use properties in Suffolk County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A second-floor one-bedroom apartment adds residential space above the ground-floor commercial area.
Where is this mixed-use property located?
The property is located at 424 W Main Street Patchogue, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1,200‑square‑foot mixed‑use property; 500‑square‑foot ground‑floor office or storefront area; Second‑floor apartment with one bedroom
