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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    271 Merritt Ave Wheatley Heights, NY 11798

    • Distribution centers
    • 18,870 SF
    • 3.45 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    Jan 18, 2023
    $6,000,000
    Value Estimations
    $5,825,000
    Cap Rate Potential
    4.9%
    Distribution centers
    Location Intelligence
    Property ID
    US63-3218660
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Distribution centers

    Property Details for 271 Merritt Ave

    Lot size
    3.45 lot acres
    Property size
    18,870 SF
    Zone code
    G
    Property type
    Distribution centers
    APN
    0100-039.00-04.00-035.000
    APU
    100039000400035000

    Description

    This exceptional 3.7-acre industrial land parcel presents a unique opportunity for businesses seeking a strategic location in Suffolk County, New York. Situated at 271 Merritt Ave in Wheatley Heights, this single-tenant property offers significant potential for development or expansion. The expansive lot size provides ample space for various industrial uses, allowing for flexibility in design and construction. The property's classification as industrial land ensures compatibility with a wide range of industrial operations. Located in Wyandanch, NY, with a zip code of 11798, this site benefits from convenient access to major transportation arteries, facilitating efficient logistics and distribution. The property is currently available for lease, presenting a compelling investment prospect for companies looking to establish or expand their operations in a thriving industrial area. The single-tenant nature of the property offers simplicity and control, making it an attractive option for businesses seeking a dedicated space. Detailed site plans and zoning information are readily available upon request. This prime industrial land offers a rare combination of size, location, and accessibility, making it an ideal choice for discerning businesses seeking a strategic foothold in the dynamic Suffolk County market. Serious inquiries are encouraged to explore the possibilities this exceptional property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,905,000
      ML approach
      $6,780,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,820,000
      6.5%
      $4,450,000
      7%
      $4,130,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,025,000
      Current use
      OFFICE BUILDING
      $8,990,000
      Change: +123% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,935,000
      Change: +72% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,670,000
      Change: +41% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $4,555,000
      Change: +13% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wheatley Heights
    County
    Suffolk
    State
    New York
    Longitude
    -73.3647
    Latitude
    40.7547
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $8,630
    $8,870
    $17,500
    -
    $13,076
    $13,439
    $26,515

    Comparable in this City

    • Value Estimation by Request
      0.62 Acres

      265 Merritt Ave

      DISTRIBUTION WAREHOUSE • 0.62 Acres
      265 Merritt Ave, Wheatley Heights, NY 11798-2219
      View Details
    • Value Estimation
      $5,595,000
      0.46 Acres

      309 Merritt Ave

      DISTRIBUTION WAREHOUSE • 0.46 Acres
      309 Merritt Ave, Wheatley Heights, NY 11798-2337
      View Details
    • Value Estimation by Request
      0.91 Acres

      1500 Straight Path

      DISTRIBUTION WAREHOUSE • 0.91 Acres
      1500 Straight Path, Wyandanch, NY 11798-3434
      View Details
    • Value Estimation by Request
      0.38 Acres

      436 Long Is Ave

      DISTRIBUTION WAREHOUSE • 0.38 Acres
      436 Long Is Ave, Wyandanch, NY 11798-3316
      View Details
    • Value Estimation
      $895,000
      2,790 SF

      8 18th St

      DISTRIBUTION WAREHOUSE • 2,790 SF
      8 18th St, Wyandanch, NY 11798
      View Details
    • Value Estimation by Request
      1.14 Acres

      98 Wyandanch Ave

      INDUSTRIAL (GENERAL) • 1.14 Acres
      98 Wyandanch Ave, Wyandanch, NY 11798-4433
      View Details

    Similar Nearby for Sale

    • $1,300,000

      Industrial Property for Sale

      Industrial property available for purchase.
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    • $639,000
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      Wheatley Heights Legal Two-Family Home

      Legal two-family home in Wheatley Heights, steps to LIRR.
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      Vacant Land in Wyandanch

      Vacant land in rapidly evolving Wyandanch, near Wyandanch Plaza.
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    • $239,000

      Updated Unit with Walk-In Closet

      Open concept unit with updated kitchen and walk-in closet.
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      0.09 Acres

      Vacant Land Ready to Build

      Vacant land in Wyandanch, NY, ready for new construction.
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    • $599,000
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      Legal 2-family home in Wyandanch, generating strong, guaranteed income.
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    Similar Nearby for Lease

    • $5 SF/Yr
      1 SF

      Industrial Land for Lease in Wyandanch

      3.7-Acre Industrial Lot, Single Tenant
      271 Merritt Ave, Wheatley Heights, NY 11798
      View Details
    • Contact for pricing
      38,848 SF

      Wyandanch Retail Center - For Lease

      Prime Retail Space, Suffolk County, NY
      10-40 Sta Dr, Wyandanch, NY 11798
      View Details
    • $276 SF/Yr
      980 SF

      Wheatley Heights Office Suites Available

      Three modern offices, 190-600 sq ft.
      313 Merritt Ave, Wheatley Heights, NY 11798
      View Details
    • $3,600 /Mo

      Clean Three-Bedroom Apartment for Rent

      Clean, three-bedroom apartment in a two-family building.
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    Wheatley Heights, NY 11798
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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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