Mixed-Use Building With
For Sale
$2,200,000
1 WARREN DR, Patterson, NY 12534
Retail space and multiple residential units create a combined commercial and residential configuration.
Property Size8,000 SF
Price / SF$275
Days on Market154
Property Features for 1 WARREN DR
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Mixed Use
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$21,254
Amenities
plate glass retail display windows
separately metered utilities
3
0.17
Building Details
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Abandoned
No
Listing Agency:
Compass Greater NY LLC
(518) 755-4574
Listed By:
Sean Roland · License #10401340960
(518) 755-4574
Source:
Xome
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 30 at 9:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Greater NY LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines street-level retail with four residential apartments. The first floor includes a 2,500-square-foot retail suite plus a separate 500-square-foot storefront with its own entrance. Residential space includes two one-bedroom apartments, one two-bedroom apartment, and a 3,500-square-foot three-bedroom penthouse with cathedral ceilings, a loft, and a roof patio overlooking the Hudson River.
The building dates to 1900 and includes updated mechanical systems, separately metered utilities, and a new sprinkler system. Apartment interiors feature in-unit washer-dryers, wide-board pine flooring, contemporary finishes, and natural light. The property contains approximately 8,000 square feet overall and offers a varied configuration of commercial and residential space within one building.
The building dates to 1900 and includes updated mechanical systems, separately metered utilities, and a new sprinkler system. Apartment interiors feature in-unit washer-dryers, wide-board pine flooring, contemporary finishes, and natural light. The property contains approximately 8,000 square feet overall and offers a varied configuration of commercial and residential space within one building.
Key Highlights
- Approximately 8,000 SF mixed‑use building constructed in 1900
- 2,500‑square‑foot first‑floor retail suite plus a separate 500‑square‑foot storefront
- Residential mix includes two one‑bedroom apartments and one two‑bedroom apartment
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
$195,555
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
8.89%
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%
$3,911,100
$3.9M
Cap Rate 7%
$2,793,643
$2.8M
Cap Rate 9%
$2,172,833
$2.2M
Market Conditions
NOI Build-Up for 8,000 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
$369.6K $46.20/SF
− Vacancy
−$14.0K −$1.76/SF
EGI
$355.6K $44.44/SF
− OpEx
−$160.0K −$20.00/SF
NOI
$195.6K $24.44/SF
Area
Putnam County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$3,911,100
Cap Rate 7%
$2,793,643
Cap Rate 9%
$2,172,833
Alternative Uses
Best Use
Apartment 5plus
$2.79M
$2.44M – $3.26M
NOI $195,555 @ 7.0% cap · market cap 8.89%
Second Best
Mixed Use
$2.31M
$2.03M – $2.70M
NOI $162,000 @ 7.0% cap · market cap 7.36%
Theoretical Best
Specialty Retail
$5.29M
$4.63M – $6.17M
NOI $370,260 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 12534, NY
17,539
Population
9,613
Households
1.8
Avg Household Size
46
Median Age
33%
College-Educated
88%
High-School Grad
88.6 sq mi
ZIP Area
198
Density / Sq Mi
$76,086
Median Household Income
$40,823
Median Earnings
$1,296
Median Rent
$260,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space and multiple residential units create a combined commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 1 WARREN DR Patterson, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Approximately 8,000 SF mixed‑use building constructed in 1900; 2,500‑square‑foot first‑floor retail suite plus a separate 500‑square‑foot storefront; Residential mix includes two one‑bedroom apartments and one two‑bedroom apartment
