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    2122 Ny-22 Patterson, NY 12563

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    2122 Ny-22 Patterson, NY 12563

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    • Retail properties & Spaces
    • 2,800 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

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

    Property Details for 2122 Ny-22

    Property size
    2,800 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Auto shops

    Description

    This exceptional 2,800 square foot retail property in Patterson, NY, presents a unique investment opportunity. Currently configured as an auto repair garage and office space with a separate two-bedroom apartment, this versatile building sits on a substantial 2.86-acre lot offering ample storage space. The property boasts three bays, a large office area, and a billboard, ensuring high visibility and excellent exposure for any business. The apartment is currently rented on a month-to-month basis. The expansive lot provides significant potential for expansion or additional uses, such as a contractor's yard, as suggested by its current use. The property's strategic location on 2122 NY-22 in Putnam County, NY, 12563, offers easy access and high traffic volume. The asking price is $950,000, with estimated annual property taxes of approximately $18,000. This property is currently vacant and ready for immediate occupancy, making it an ideal investment for a savvy entrepreneur seeking a multi-faceted commercial venture. The combination of the auto repair facility, apartment rental income, and substantial land area presents a compelling opportunity for significant return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Patterson
    County
    Putnam
    State
    New York
    Longitude
    -73.5783
    Latitude
    41.4551

    Comparable in this City

    • Value Estimation by Request
      4,530 SF

      160-162 Rt 164

      AUTO REPAIR, GARAGE • 4,530 SF
      160-162 Rt 164, Patterson, NY 12563
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    • Value Estimation by Request
      750 SF

      2237 Rte 22

      AUTO REPAIR, GARAGE • 750 SF
      2237 Rte 22, Patterson, NY 12563-6211
      View Details
    • Value Estimation
      $920,000
      10,733 SF

      2597 Rte 22

      AUTO REPAIR, GARAGE • 10,733 SF
      2597 Rte 22, Patterson, NY 12563-6209
      View Details
    • Value Estimation by Request
      3,956 SF

      3130 Rte 22

      AUTO REPAIR, GARAGE • 3,956 SF
      3130 Rte 22, Patterson, NY 12563-2341
      View Details
    • Value Estimation by Request
      750 SF

      2237-2239 Rt 22

      AUTO REPAIR, GARAGE • 750 SF
      2237-2239 Rt 22, Patterson, NY 12563
      View Details
    • Value Estimation by Request
      1,296 SF

      3069 Rte 22

      AUTO REPAIR, GARAGE • 1,296 SF
      3069 Rte 22, Patterson, NY 12563-2337
      View Details

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      Patterson Land For Sale

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      44 Acres Mixed-Use Land

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    Similar Nearby for Lease

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      New Regional Shopping Center Development

      Regional shopping center development with signed lease with Costco.
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      Retail Pad Site For Lease

      2,250-6,050 SF pad site available for ground lease or build-to-suit.
      3101 Ny-22, Patterson, NY 12563
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    2122 Ny-22
    Patterson, NY 12563
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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.

    More about this property
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