Approved Multifamily Development
For Sale
$995,000
42 Burd Street, Nyack, NY 10960
Approved residential development project in Nyack, ready to build.
Property Size2,600 SF
Price / SF$382.69
Days on Market157
Property Features for 42 Burd Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multifamily
Building Details
Building Size
2,600 SF
Listing Agency:
Triforce Commercial Real Estate
(845) 323-9177
Listed By:
Jason Horowitz · License #NJ #1433362
Source:
Triforcecre
Added: Mar 26
Changed: Aug 26
Last Checked: Aug 29 at 8:49AM
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 Triforce Commercial Real Estate
Investment Insights
Based on property information with market context.
This is a fully approved residential development project featuring a vacant 2,600 SF two-story commercial office building, ready to be transformed into a modern, multifamily residential development. The development will consist of four one-bedroom units, each approximately 650 SF. Each unit includes a spacious living room, kitchen, full bathroom, laundry closet, and a walk-out covered balcony. The balconies offer views of the Hudson River and the Tappan Zee Bridge. Convenient onsite parking is available for residents and guests. The sale includes fully approved development plans, completed architectural and engineering work, and shovel-ready status with building permits. Located one block from Downtown Nyack and one block from the Hudson River, this location offers urban convenience and scenic beauty. This multifamily development represents a prime opportunity for long-term income generation. The demand for quality rental housing in this area remains strong, ensuring a steady stream of potential tenants.
Key Highlights
- Shovel‑ready development project with fully approved plans and building permits for a multifamily residential building.
- Prime location: one block from downtown Nyack and the Hudson River.
- Four (4) one‑bedroom units, each with a walk‑out covered balcony offering Hudson River and Tappan Zee Bridge views.**
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
$45,946
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
4.62%
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%
$918,920
$918.9K
Cap Rate 7%
$656,371
$656.4K
Cap Rate 9%
$510,511
$510.5K
Market Conditions
NOI Build-Up for 2,600 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
$70.2K $27.00/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$65.6K $25.25/SF
− OpEx
−$19.7K −$7.57/SF
NOI
$45.9K $17.67/SF
Area
Rockland County, NY
Vacancy
6.50%
Lease Rate
$27.00 /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%
$918,920
Cap Rate 7%
$656,371
Cap Rate 9%
$510,511
Alternative Uses
Best Use
Multifamily LT 5
$656.4K
$574.3K – $765.8K
NOI $45,946 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$608.7K
$532.6K – $710.2K
NOI $42,609 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.01M
NOI $120,335 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 10960, NY
14,680
Population
6,680
Households
2.2
Avg Household Size
44
Median Age
63%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
3,123
Density / Sq Mi
$126,404
Median Household Income
$69,067
Median Earnings
$2,148
Median Rent
$662,600
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?
Quadplex - Approved residential development project in Nyack, ready to build.
Where is this quadplex located?
The property is located at 42 Burd Street Nyack, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Shovel‑ready development project with fully approved plans and building permits for a multifamily residential building.; Prime location: one block from downtown Nyack and the Hudson River.; Four (4) one‑bedroom units, each with a walk‑out covered balcony offering Hudson River and Tappan Zee Bridge views.**
