Building Details

Year built 1900

Number of units 1

Building materials Frame

Listing Agency: Tuxedo Hudson Realty Corp k***@tuxedohudsonrealty.com Show Phone

Listed By: Sally Bruno Show Phone

Added: Jun 19 Changed: Aug 20 Last Checked: Sep 23 at 4:06PM

Report an Issue

MLS# 1015904

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

Investment Insights

Based on property information with market context.

Built circa 1900, this 20,000-square-foot mixed-use property at 215 NY 17 includes four main-level storefronts, apartments above, and a full lower level with natural light and broad open areas. The interior has been reconfigured into several expansive spaces, while a sunny terrace extends across the rear facade. Public water and sewer serve the property, with natural gas heat and cable availability.

The building sits across from a historic footbridge over the river that links with the trail network in Harriman State Park. The planned Tuxedo Reserve community is less than a mile away and is expected to include 1,600 homes. On-site parking includes 28 dedicated spaces, supplemented by municipal and street parking access. The property is positioned for owner-user, hospitality, mixed-use, or investment applications.

Key Highlights

• 20,000‑square‑foot mixed‑use building constructed circa 1900
• Four storefronts on the main level with apartments above
• Full lower level with natural light and generous open space

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$243,432

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.39%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$4,868,640 $4.9M

Cap Rate 7%

$3,477,600 $3.5M

Cap Rate 9%

$2,704,800 $2.7M

Market Conditions

NOI Build-Up for 20,000 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$360.0K $18.00/SF

− Vacancy

−$12.2K −$0.61/SF

EGI

$347.8K $17.39/SF

− OpEx

−$104.3K −$5.22/SF

NOI

$243.4K $12.17/SF

Area

Orange County, NY

Vacancy

3.40%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$4,868,640

Cap Rate 7%

$3,477,600

Cap Rate 9%

$2,704,800

Alternative Uses

Best Use

Retail

$3.48M

$3.04M – $4.06M (±1% cap)

NOI $243,432 @ 7.0% cap · market cap 8.39%

Second Best

Mixed Use

$2.49M

$2.18M – $2.90M (±1% cap)

NOI $174,150 @ 7.0% cap · market cap 6.01%

Theoretical Best

Office A

$6.77M

$5.93M – $7.90M (±1% cap)

NOI $474,163 @ 7.0% cap · market cap 16.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Storefront properties

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 10987, NY

4,454

Population

1,646

Households

2.7

Avg Household Size

47

Median Age

49%

College-Educated

96%

High-School Grad

33.4 sq mi

ZIP Area

133

Density / Sq Mi

$164,063

Median Household Income

$88,536

Median Earnings

$1,486

Median Rent

$682,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Historic Mixed-Use Retail & Restaurant Building

215 Route 17, Tuxedo Park, NY 10987

$2,900,000

20,000 SF

View details

Mid-Century Modern Office Compound

60 Woods Road, Tuxedo Park, NY 10987

$1,985,000

3.25 Acres

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Circa-1900 property combines storefronts, upper-level apartments, open lower-level space, and a full-length rear terrace.

Where is this mixed-use property located?

The property is located at 215 NY 17 Tuxedo Park, NY.

What is the asking price?

The asking price for this property is $2,900,000.

What are key features of this property?

This property features: 20,000‑square‑foot mixed‑use building constructed circa 1900; Four storefronts on the main level with apartments above; Full lower level with natural light and generous open space