227 Medford AvePatchogue, NY 11772
- Investment properties
- 0.29 AC
For Sale
$700,000
View listing
Property Details for 227 Medford Ave
- Lot size
- 0.29 AC
- Property type
- Investment properties
- Property subtype
- Retail residential properties
- APN
- 0200-973.30-05.00-002.000
- APU
- 200973300500002000
Description
This 525-square-foot vacant retail building, located at 227 Medford Avenue in Patchogue, New York, presents a unique redevelopment opportunity. Situated on a 0.29-acre lot, the property boasts 60 feet of frontage on busy Medford Avenue (Route 112) and additional driveway access from Vernon Street, providing excellent visibility and accessibility. Built in 1960, this single-story building features a double drive-thru lane, ideal for a variety of uses. The property is zoned J-2
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,895,417
- 6.5%
- $2,672,692
- 7%
- $2,481,786
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,558,270
- Geo Method
- $2,558,270
-
Alternative Use
- Use
- Valuation
- Residential
- $2,672,692
- Hospitality
- $2,448,172
- Educational
- $2,036,850
- Medical
- $2,106,900
- Retail
- $3,168,434
227 Medford Ave, Patchogue, New York
Location Insight
- City
- Patchogue
- County
- Suffolk
- State
- New York
- Latitude
- 40.7755
- Longitude
- -73.0073
- 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
-
$785
$1,300
$2,085
-
$1,454
$2,407
$3,861
Comparable in this City
Similar Nearby for Sale
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