Historic Mixed-Use
For Sale
$2,900,000
215 NY 17, Tuxedo Park, NY 10987
MULTI_FAMILY - Tuxedo Park, NY
Property Size20,000 SF
Price / SF$145
Days on Market52
Property Features for 215 NY 17
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Driveway
Elementary school district
Tuxedo Union Free
Middle school district
Tuxedo Union Free
High school district
Tuxedo Union Free
Standard status
Active
APN
335003.211.000-0005-005.200/0000
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
26000
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
1
Building materials
Frame
Listing Agency:
Tuxedo Hudson Realty Corp
(845) 915-4567
Listed By:
Sally Bruno
(646) 257-0099
Added: Jun 19
Changed: Jun 23
Last Checked: Aug 9 at 4:06AM
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.
The Historic Tuxedo Stores Co. Building, constructed circa 1900, presents a substantial mixed-use structure arranged with four storefronts on the main level and apartments above. A full lower level provides additional light and generous open space. The building has been opened up into several larger interior areas and features grand interiors with high ceilings and expansive open space throughout. A sunny terrace spans the full length of the rear facade, offering an outdoor extension to the building’s interior volume.
Located at 215 NY 17 in Tuxedo Park, the property is directly across the street from a historic footbridge that crosses the river and connects to the extensive trail network of Harriman State Park. On-site parking includes 28 dedicated spaces, with convenient access to municipal and street parking as well. The listing also notes the potential for valet parking during evenings and weekends using the nearby Town Hall lot.
With its combination of flexible interior space, high ceilings, and existing retail-forward configuration, the building is well suited to an owner-user or hospitality concept, as well as mixed-use development or investment strategies. The layout and outdoor terrace support tenant and guest flow across multiple areas, while the parking offering provides practical convenience for retail, dining, or community-oriented uses.
Located at 215 NY 17 in Tuxedo Park, the property is directly across the street from a historic footbridge that crosses the river and connects to the extensive trail network of Harriman State Park. On-site parking includes 28 dedicated spaces, with convenient access to municipal and street parking as well. The listing also notes the potential for valet parking during evenings and weekends using the nearby Town Hall lot.
With its combination of flexible interior space, high ceilings, and existing retail-forward configuration, the building is well suited to an owner-user or hospitality concept, as well as mixed-use development or investment strategies. The layout and outdoor terrace support tenant and guest flow across multiple areas, while the parking offering provides practical convenience for retail, dining, or community-oriented uses.
Key Highlights
- Historic frame building built circa 1900, totaling about 20,000 SF
- Main level designed with four storefronts, with apartments above and a full lower level
- Sunny rear terrace spans the full length of the rear facade
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
NOI $243,432 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.77M
$5.93M – $7.90M
NOI $474,163 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Historic building with four main-level storefronts, apartments above, and a full-length sunny rear terrace.
Where is this storefront 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: Historic frame building built circa 1900, totaling about 20,000 SF; Main level designed with four storefronts, with apartments above and a full lower level; Sunny rear terrace spans the full length of the rear facade
