Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    2 Acres Mixed-Use Development Land Title is generated by Realmo AI

    348 Route 32, Monroe, NY

    View on Map
    Claim this Listing
    For Sale
    $1,950,000

    4 Family, Mixedflr - Monroe, NY

    Lot size:
    2.00 Acres
    Added:
    Feb 27, 2026
    Days on Market:
    79
    Last Refresh:
    May 17 at 12:06 pm

    Property Features for 348 Route 32

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    New Construction
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Standard status
    Active
    Lot size
    2.00 Acres

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Edmond Yoo
    Edmond Yoo

    Listing agent Edmond Yoo

    Listing office Coldwell Banker, Fort Lee NY

    Listing date Feb 27, 2026

    MLS# 26006434 Listing URL

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

    HighLights

    • 2 Acres of Land in Woodbury, NY
    • Approved Variance for Commercial Usage
    • Four‑Family Property
    • Mixed‑Use Development Potential
    • Can be Delivered Vacant or with Tenants
    • Located 1.5 Miles from Major Throughways and Woodbury Common Premium Outlets

    Overview

    This property features approximately 2 acres in Woodbury, New York. It includes a four-family property with an approved variance for commercial usage for the street-adjacent section of the parcels, allowing for future mixed-use development. The property can be delivered vacant or with tenants in place, depending on the purchaser's preference. It is located within 1.5 miles of major throughways and Woodbury Common Premium Outlets. An adjacent parcel lot is also available for sale, presenting additional opportunities for expansion or development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Monroe
    County
    Orange
    State
    New York
    Longitude
    -74.19
    Latitude
    41.33

    Nearby Similar for Sale

    • $500,000

      Monroe NY Land Assemblage

      Four contiguous lots in Chester and Monroe, subdivision potential.
      30 Harding Way, Monroe, NY 10950
      View Details
    • $749,000

      Office Building in Commercial District

      Office building with parking in a walkable, bikeable location.
      101 Stage Rd, Monroe, NY 10950
      View Details
    • $439,000

      Lakefront Property on Round Lake

      Pristine lakefront property with direct shoreline access and breathtaking scenery.
      304 Round Lake Terrace, Monroe, NY 10950
      View Details
    • $189,000

      Monroe Land: Build Your Dream

      5.5-acre parcel in Monroe-Woodbury School District. Build your dream home.
      37 Dry Hill Lake Road, Monroe, NY 10950
      View Details
    • $549,900

      Versatile Commercial Space in Monroe

      Prime commercial property in high-traffic Monroe location.
      14 Lakes Road, Monroe, NY 10950
      View Details
    • $249,000

      Approved Lot Ready to Build

      5-acre lot approved for building near Warwick and Greenwood Lake.
      1187 Lakes Road, Monroe, NY 10950
      View Details
    • $279,000

      Approved Lot Near Trout Brook

      8.9-acre lot ready to build near Warwick, New York.
      1181 Lakes Road, Monroe, NY 10950
      View Details
    • $234,999

      Monroe Land with Lake Views

      5+ acre raw land with water and scenic Shadowmere Lake views.
      Stag Hill Road, Monroe, NY 10950
      View Details
    • $279,000

      Approved Lot Ready to Build

      8.1 acre lot in Warwick, close to amenities.
      1171 Lakes Road, Monroe, NY 10950
      View Details
    • $35,000

      Residential Land in Established Neighborhood

      Land ready for custom-built residence in Monroe, NY.
      38 Sylvan Trail, Monroe, NY 10950
      View Details
    • $439,000

      Round Lake Waterfront Property

      105 ft of lakefront property on Round Lake.
      304 Round Lake Ter, Monroe, NY 10950
      View Details
    • $500,000

      Four Contiguous Lots in Monroe

      Exceptional development opportunity in Chester and Monroe, Monroe-Woodbury School District.
      30 Harding Way, Monroe, NY 10950
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2 acres in Woodbury, NY, with mixed-use development potential.
    Where is this commercial land located?
    The property is located at 348 Route 32 Monroe, NY.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: 2 Acres of Land in Woodbury, NY; Approved Variance for Commercial Usage; Four‑Family Property
    (201) 705-2345
    We can help!
    Listing Contact
    Edmond Yoo
    Edmond Yoo
    Real Estate License ID: 10401255458 (NY)
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    348 Route 32, Monroe, NY
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!