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    Development Land in Ferndale, NY Title is generated by Realmo AI

    126 Devany Road, Ferndale, NY 12734

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    Claim this Listing
    For Sale
    $1,250,000

    Vacant Land - Ferndale, NY

    Lot size:
    12.55 Acres
    Added:
    Jan 12, 2024
    Days on Market:
    873
    Last Refresh:
    Jun 3 at 12:06 am

    Property Features for 126 Devany Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    100
    Parking features
    Garage
    Standard status
    Active
    Lot size
    12.55 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3350

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Kraner
    Lisa Kraner

    Listing agent Lisa Kraner

    Listing office Manhattan Living Realty 25 Kinkaid Ave, Closter, NY

    Listing date Jan 12, 2024

    MLS# 11235748 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 12.55‑acre property in a highly desirable location with development potential.
    • RD1 zoning allows for various development options.
    • Includes existing infrastructure: two wells (one active), a pond, and internal clearing.
    • Abundant natural features: 10+ fruit‑bearing trees and 5,000+ maple trees.
    • Convenient location: close to bungalow colonies, shuls, a mikvah, kosher supermarkets, and other shopping destinations.
    • Proximity to Manhattan: Less than two hours away.

    Overview

    Located in Sullivan County, near Swan Lake, Liberty, and Ferndale, this 12.55-acre property (546,678 SF) offers a development opportunity. The land is divided into three lots and zoned RD1. The site features two wells (one active, one abandoned), a pond measuring 100 x 75 feet, over ten fruit-bearing trees (apple, pear, etc.), and more than 5,000 maple trees in a sector that does not interfere with building. Some internal unpaved clearing has been completed. A recent survey is available. The property is located a six-minute walk to Hillcrest Estates Bungalow Colony with Rav Yaakov Yosef Halberstam, Admor of Beis Chaim Yehoshua, and two new shuls, and a seven-minute walk to the Breslev new development that includes a shul and a mikvah. It is a ten-minute drive to Apple Tree Kosher Supermarket, ShopRite, Lemonade Kosher Supermarket, Home Depot, two post offices and many other shopping destinations. The location is adjacent to Girls Camp Baiseinu (formerly Machaneinu). The land could be used to build multiple houses, recreation areas, schools, shuls, campgrounds, or resorts, or revert to farming. It also presents the opportunity to build a palatial estate with a swimming pool, tennis courts, horse stables, or even a golf course.
    Property Profile Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Real Estate Agency HVAC Service Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Sullivan
    State
    New York
    Longitude
    -74.764542
    Latitude
    41.762202

    Nearby Similar for Sale

    • $250,000
      1,772 SF

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    • $429,900

      Commercial Land Near Future I-86

      Nearly 6 acres of commercially zoned land with high visibility.
      1132 Old Route 17, Ferndale, NY 12734
      View Details

    FAQs

    What type of property is this?
    Land - 12.55 acres of land suitable for various development projects.
    Where is this land located?
    The property is located at 126 Devany Road Ferndale, NY.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Large 12.55‑acre property in a highly desirable location with development potential.; RD1 zoning allows for various development options.; Includes existing infrastructure: two wells (one active), a pond, and internal clearing.
    (917) 940-3237
    We can help!
    Listing Contact
    Lisa Kraner
    Lisa Kraner
    Real Estate License ID: 10401342100
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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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