Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    313 Merritt Ave Wheatley Heights, NY 11798-2328
    Back to Search
    Property profile & analytics

    313 Merritt Ave, Wheatley Heights, NY 11798-2328

    View on Map
    • Turn key restaurants
    • 2,416 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US63-6188784
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mi Campo Deli-Bakery / Food Market / Restaurant
    • MS MULTI SERVICES - MEMOS SHOP / Law Firm
    • Memo’s Shop LLC / Consultant

    Property Details for 313 Merritt Ave

    Lot size
    0.06 lot acres
    Zone code
    WC
    Property type
    Turn key restaurants
    APN
    0100-040.00-01.00-061.000
    APU
    100040000100061000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 8, 2007 — Rgm Associates LLC Joe II Realty Corp Grant Deed · related —

    Description

    This exceptional opportunity presents three distinct office spaces for lease at 313 Merritt Avenue in Wheatley Heights, New York, within Suffolk County. The property offers a range of sizes, accommodating businesses of varying needs. Available spaces range from a compact 190 square feet to a more substantial 600 square feet, providing flexibility for tenants. The building is classified as a traditional office space, ideal for professional services, small businesses, or satellite offices. The multiple tenancy structure ensures a diverse and vibrant work environment. The precise configuration and layout of each individual office space can be provided upon request. Located in the convenient zip code 11798, this property offers easy access to local amenities and transportation links. This is a fantastic chance to secure a well-located and functional office space in a thriving community. The property is situated at 40.754444433556756 latitude and -73.36095448473684 longitude. Inquire today to learn more about leasing options and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wheatley Heights
    County
    Suffolk
    State
    New York
    Longitude
    -73.361
    Latitude
    40.7546
    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
    $470
    $2,800
    $3,270
    -
    $712
    $4,242
    $4,954

    Comparable in this City

    • Value Estimation by Request
      2,354 SF

      1393 Straight Path

      RESTAURANT
      1393 Straight Path, Wyandanch, NY 11798-4339
      View Details
    • Value Estimation by Request
      0.34 Acres

      8 Andrews Ave

      SHOW ROOM, WAREHOUSE
      8 Andrews Ave, Wheatley Heights, NY 11798
      View Details
    • Value Estimation by Request
      0.16 Acres

      1563 Straight Path

      SHOW ROOM, WAREHOUSE
      1563 Straight Path, Wyandanch, NY 11798-3231
      View Details
    • Value Estimation
      $1,060,000
      6,230 SF

      311 Merritt Ave

      SHOW ROOM, WAREHOUSE
      311 Merritt Ave, Wheatley Heights, NY 11798-2328
      View Details
    • Value Estimation by Request
      990 SF

      1525 Straight Path

      SHOW ROOM, WAREHOUSE
      1525 Straight Path, Wyandanch, NY 11798-3414
      View Details
    • Value Estimation by Request
      601 SF

      1547 Straight Path

      SHOW ROOM, WAREHOUSE
      1547 Straight Path, Wyandanch, NY 11798
      View Details

    Similar Nearby for Sale

    • $550,000

      Commercial Lot in Wyandanch Corridor

      0.37-acre commercial lot with dealer license in Wyandanch.
      1616 Straight Path, Wyandanch, NY 11798
      View Details
    • $55,000
      Pending

      Vacant Land in Wyandanch, NY

      Vacant land ready for new residential construction in Wyandanch.
      33 Patton Ave, Wyandanch, NY 11798
      View Details
    • $55,000

      Vacant Land in Wyandanch

      Vacant land near Wyandanch Plaza, variance required for development.
      20 Chestnut St, Wyandanch, NY 11798
      View Details
    • $55,000

      Vacant Land in Wyandanch

      Vacant land near Wyandanch Plaza, variance required for development.
      40 Spruce St, Wyandanch, NY 11798
      View Details
    • $729,000
      Pending

      Turnkey Legal Two-Family Home

      Legal 2-family home in Wyandanch generating strong, guaranteed income.
      39 N 16Th St, Wyandanch, NY 11798
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Wyandanch Commercial Space For Lease

      Commercial space available for lease in Wyandanch, New York.
      90 Wyandanch Ave, Wyandanch, NY 11798
      View Details
    • $12 SF/Yr

      Clean Three-Bedroom Apartment For Rent

      Second-floor apartment in a two-family building with hardwood floors.
      148 N 22Nd St, Wheatley Heights, NY 11798
      View Details
    • Contact for pricing

      271 Merritt Ave, Wyandanch, NY 11798

      Industrial land
      271 Merritt Ave, Wyandanch, NY 11798
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    313 Merritt Ave
    Wheatley Heights, NY 11798-2328
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    313 Merritt Ave, Wheatley Heights, NY, 11798
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!