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    Retail Space in Middletown, NY Title is generated by Realmo AI

    400 NY-211, Middletown, NY

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    Retail space in a busy shopping center on Route 211.

    Type:RETAIL
    Property size:
    1,800 SF
    Lot size:
    25.01 Acres
    Added:
    Dec 6, 2023
    Days on Market:
    893
    Last Refresh:
    Apr 5 at 9:44 pm

    Property Features for 400 NY-211

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Lot size
    25.01 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 400 NY-211 Contact us

    We can help!

    Listing Contact
    Max More
    Max More

    Listing agent Max More

    Listing office Brixmor Property Group - Corporate

    Listing date Dec 6, 2023

    Source Moodyscre

    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 Brixmor Property Group - Corporate

    HighLights

    • Strong lineup of national retailers including Hobby Lobby, WingStop (coming soon), and Texas Roadhouse.
    • Located on Rte 211 in regional Middletown, NY with visibility from 31,000+ VPD and easy access to I‑84.
    • Located in Orange County, one of the fastest growing counties in the state.
    • Close proximity to two large medical facilities: Orange Regional Medical Center and Crystal Run Healthcare.
    • Surrounded by a trade area that is home to 4 top rated colleges and universities with a combined enrollment of 16,000+ students.
    • Close proximity to Galleria at Crystal Run, anchored by Macy’s, JCPenney, Sears, Target & Dick’s Sporting Goods.

    Overview

    This 1,800-square-foot retail space is located in a shopping center in Middletown, Orange County, New York. The center is positioned on Route 211, benefiting from high visibility with over 31,000 vehicles per day and convenient access to I-84. The location is near the Galleria at Crystal Run, which is anchored by major retailers including Macy’s, JCPenney, Sears, Target, and Dick’s Sporting Goods. The shopping center features a strong mix of national retailers, including Hobby Lobby, WingStop (coming soon), and Texas Roadhouse. The property is situated in a trade area that includes four top-rated colleges and universities with a combined enrollment of over 16,000 students. The center also benefits from its proximity to two large medical facilities: Orange Regional Medical Center and Crystal Run Healthcare, contributing to a booming healthcare industry in Middletown.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Building Supply Hair Salon Auto Repair Shop Gym & Fitness Center Auto Parts Store Kitchen & Bath Showroom Food Market HVAC Service Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • candy day — 17 standish ave, middletown, ny 10940

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Orange
    State
    New York
    Longitude
    -74.4229
    Latitude
    41.4459

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    FAQs

    What type of property is this?
    Shopping center - Retail space in a busy shopping center on Route 211.
    Where is this shopping center located?
    The property is located at 400 NY-211 Middletown, NY.
    What are key features of this property?
    This property features: Strong lineup of national retailers including Hobby Lobby, WingStop (coming soon), and Texas Roadhouse.; Located on Rte 211 in regional Middletown, NY with visibility from 31,000+ VPD and easy access to I‑84.; Located in Orange County, one of the fastest growing counties in the state.
    (212) 869-3000 Call to check price and availability
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    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.

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