Commercial Land with Office
For Sale
$414,500
1132 Old Route 17, Ferndale, NY 12734
Commercially zoned land includes a renovated office building with flexible rooms, a full basement, garage, and parking.
Property Size850 SF
Days on Market299
Property Features for 1132 Old Route 17
General Information
Standard status
Active
Size
850 SF
Property subtype
Commercial
Zoning
CI/RR1
Taxes and HOA fees
Annual Taxes
$3,200
Building Details
Building Size
850 SF
Year Built
1943
Stories
2
Listing Agency:
The Maxx Group LLC
(845) 866-4673
Listed By:
Maxine H Schulte · License #10491205538
(845) 866-4673
Source:
Alexandermadisonhomes
Added: Nov 4, 2025
Changed: Aug 29
Last Checked: Aug 30 at 5:32PM
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 The Maxx Group LLC
Investment Insights
Based on property information with market context.
This commercial land offering includes a renovated office building originally configured as a three-bedroom residence. The interior now provides three flexible rooms, a full bathroom, shiplap wall finishes, and a cathedral ceiling. A full walkout basement and garage add storage capacity, while the property also includes a generously sized parking lot and level open land. The building was constructed in 1943 and is zoned CI/RR1.
The property is positioned directly on Route 17, which is identified for future redesignation as Interstate 86, and lies between Route 17 and Old Route 17. It is just under a mile from the highway entrance and less than 2 miles from Garnet Health Medical Center and the regional UPS distribution hub. The offering includes nearly 4 usable acres plus an additional 2 acres across the interstate. The billboard facing Old Route 17 will not convey with the sale.
The property is positioned directly on Route 17, which is identified for future redesignation as Interstate 86, and lies between Route 17 and Old Route 17. It is just under a mile from the highway entrance and less than 2 miles from Garnet Health Medical Center and the regional UPS distribution hub. The offering includes nearly 4 usable acres plus an additional 2 acres across the interstate. The billboard facing Old Route 17 will not convey with the sale.
Key Highlights
- Nearly 4 usable acres plus an additional 2 acres across the interstate
- CI/RR1 zoning with a renovated office building
- Three flexible rooms, full bathroom, cathedral ceiling, and shiplap walls
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
$11,934
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
2.88%
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%
$238,680
$238.7K
Cap Rate 7%
$170,486
$170.5K
Cap Rate 9%
$132,600
$132.6K
Market Conditions
NOI Build-Up for 850 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
$20.4K $24.00/SF
− Vacancy
−$4.5K −$5.28/SF
EGI
$15.9K $18.72/SF
− OpEx
−$4.0K −$4.68/SF
NOI
$11.9K $14.04/SF
Area
Sullivan County, NY
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$238,680
Cap Rate 7%
$170,486
Cap Rate 9%
$132,600
Alternative Uses
Best Use
Office B
$170.5K
$149.2K – $198.9K
NOI $11,934 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$233.1K
$204.0K – $272.0K
NOI $16,320 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 12734, NY
870
Population
601
Households
1.4
Avg Household Size
40
Median Age
30%
College-Educated
85%
High-School Grad
14.1 sq mi
ZIP Area
62
Density / Sq Mi
$37,234
Median Household Income
$40,833
Median Earnings
$635
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercially zoned land includes a renovated office building with flexible rooms, a full basement, garage, and parking.
Where is this commercial land located?
The property is located at 1132 Old Route 17 Ferndale, NY.
What is the asking price?
The asking price for this property is $414,500.
What are key features of this property?
This property features: Nearly 4 usable acres plus an additional 2 acres across the interstate; CI/RR1 zoning with a renovated office building; Three flexible rooms, full bathroom, cathedral ceiling, and shiplap walls
