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    93 Ruland Rd Melville, NY 11747

    For Sale
    $2,395,000

    Prime 1.3-acre I-2 zoned lot, ideal for restaurant, bank, or commercial use.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 1.3-acre development lot, located at 93 Ruland Rd in Melville, NY 11747, presents a unique investment opportunity. Zoned I-2, this property offers significant potential for a variety of commercial uses, including restaurants, banks, and other retail establishments. The lot size is approximately 1.3 acres, with the possibility of an additional approximately one-eighth of an acre, totaling approximately 1.6 acres. Its strategic location provides excellent visibility and accessibility, situated a quarter-mile from Route 110, a major thoroughfare. The surrounding area boasts a strong demographic profile, with a median annual household income of $141,232, indicating a robust consumer base. This property is being offered at $2,395,000 and represents a compelling chance to capitalize on the thriving commercial landscape of Melville, Suffolk County, New York. The property's I-2 zoning allows for a wide range of development possibilities, making it an attractive investment for both experienced developers and new ventures. This prime location and zoning make this a rare opportunity for significant return on investment. Serious inquiries are encouraged.

    Property Features for 93 Ruland Rd

    General Information

    Property type
    Restaurants
    Lot Size
    56,628 SF

    HighLights

    • 1.3‑acre development lot (potential for ~1.6 acres total)
    • I‑2 zoning, allowing for diverse commercial uses
    • 0.25‑mile proximity to Route 110
    • $141,232 average annual household income in the area
    • Suitable for restaurants, banks, and other retail establishments
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Building Supply Auto Repair Shop Hair Salon Wholesale Shop Nail Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Melville
    County
    Suffolk
    State
    New York
    Longitude
    -73.4142226
    Latitude
    40.76427

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    FAQs

    What type of property is this?
    Restaurant - Prime 1.3-acre I-2 zoned lot, ideal for restaurant, bank, or commercial use.
    Where is this restaurant located?
    The property is located at 93 Ruland Rd Melville, NY.
    What is the asking price?
    The asking price for this property is $2,395,000.
    What are key features of this property?
    This property features: 1.3-acre development lot (potential for ~1.6 acres total); I-2 zoning, allowing for diverse commercial uses; 0.25-mile proximity to Route 110
    Request Owner's contact information
    93 Ruland Rd Melville, NY 11747
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    Melville, NY 11747
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    Realmo Value Estimation

    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.

    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.

    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
    93 Ruland Rd Melville, NY 11747
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