3191 Route 22Patterson, NY 12563

Property Details for 3191 Route 22

Year built

2003

Lot size

12.97 AC

Property size (Sq ft)

2,724 SF

Zone code

C1

Property type

Retail properties

Property subtype

Turn key restaurants

APN

372400 4.-1-49.1

APU

37240041491

Description

This exceptional mixed-use property in Patterson, NY, presents a unique investment opportunity. The offering encompasses four contiguous lots totaling approximately 68.43 acres with significant Route 22 frontage. The property includes a restaurant and former driving range/mini-golf on a 12.97-acre C1 zoned lot. The restaurant, Iron & Wine, currently operates under a lease expiring January 2025, with the tenant expressing interest in renewal. A separate 35.62-acre C1 zoned lot features a small farming operation and existing commercial and residential leases. Two additional lots, totaling 19.84 acres (11.74 acres and 8.10 acres), are zoned R1 and contain wetlands. The 8.10-acre lot is located in Pawling, NY (Duchess County). Detailed wetland maps and setbacks will be provided. Prospective buyers are strongly encouraged to independently verify all property information, zoning regulations, acreage, restrictions, and permitted uses by reviewing the Towns of Patterson and Pawling websites and contacting the respective municipalities directly. Relevant zoning regulations, specifically Articles V and VII, are available upon request. This property offers significant potential for diverse development and income generation. The property will soon be divided into two separate listings: a restaurant/range portion and a farm/residential portion.

• CAP approach

  CAP return

  Valuation

  6%

  $662,027

  6.5%

  $611,102

  7%

  $567,452

• Comparable approach

  Method

  Valuation

  Relative Method

  $896,913

  Geo Method

  $896,913

• Alternative Use

  Use

  Valuation

  Residential

  $515,487

  Hospitality

  $472,184

  Educational

  $392,851

  Medical

  $406,362

  Retail

  $611,102

Location Insight

City

Patterson

County

Putnam

State

New York

Latitude

41.5233

Longitude

-73.5923

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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