Retail Site on Route
For Sale
Contact for pricing
123 NY-59, Nanuet, NY
8,400 SF retail site in Rockland County for sale.
Property Size8,400 SF
Lot Size0.52 Acres
Price / SF$577.38
Days on Market547
Property Features for 123 NY-59
General Information
Standard status
Active
Size
8,400 SF
Lot size
0.52 Acres
Property subtype
RETAIL
Properties For Sale
at 123 NY-59 Contact us- Floor
- 1
- Size
- 3,800 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
123 NY-59
- Incredible opportunity to rent retail space in the heart of Rockland County's Commercial...
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Listing Agency:
Triforce Commercial Real Estate
(845) 450-6500
Listed By:
Jason Horowitz · License ##10491207540
(845) 323-9177
Source:
Moodyscre
Added: Mar 18, 2025
Changed: Sep 14
Last Checked: Sep 15 at 4:12AM
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 an opportunity to purchase an approximately 8,400 square foot retail site situated on about 0.54 acres. Located in the commercial district of Rockland County on Route 59 in Nanuet, New York, the property benefits from high traffic volume, with the New York State Department of Transportation reporting an Annual Average Daily Traffic count of 31,126 vehicles in 2023. The vacant space, previously a bank with a drive-thru, is suitable for an owner-user. The property is located in the RS (Regional Shopping) Zone.
Key Highlights
- High Traffic Location: Located on Route 59 with 31,126 cars passing daily (2023 data).
- Large Retail Space: Boasting 8,400 +\/- SF of retail space.
- Prime Commercial District: Situated in Rockland County's Commercial District.
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
$388,773
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
8.02%
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%
$7,775,460
$7.8M
Cap Rate 7%
$5,553,900
$5.6M
Cap Rate 9%
$4,319,700
$4.3M
Market Conditions
NOI Build-Up for 8,400 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
$554.4K $66.00/SF
− Vacancy
−$36.0K −$4.29/SF
EGI
$518.4K $61.71/SF
− OpEx
−$129.6K −$15.43/SF
NOI
$388.8K $46.28/SF
Area
Rockland County, NY
Vacancy
6.50%
Lease Rate
$66.00 /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%
$7,775,460
Cap Rate 7%
$5,553,900
Cap Rate 9%
$4,319,700
Alternative Uses
Best Use
Specialty Retail
$5.55M
$4.86M – $6.48M
NOI $388,773 @ 7.0% cap · market cap 8.02%
Second Best
Retail
$1.69M
$1.48M – $1.97M
NOI $118,294 @ 7.0% cap · market cap 2.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
63k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 71%
Shops & Services 29%
HomeGoods
Home Improvements & Furnishings
39,059 visits/mo
0.5 miles
Party City
Shops & Services
12,089 visits/mo
0.5 miles
Chase Bank
Shops & Services
6,145 visits/mo
0.1 miles
Kirkland's
Home Improvements & Furnishings
5,375 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - 8,400 SF retail site in Rockland County for sale.
Where is this bank located?
The property is located at 123 NY-59 Nanuet, NY.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: High Traffic Location: Located on Route 59 with 31,126 cars passing daily (2023 data).; Large Retail Space: Boasting 8,400 +\/- SF of retail space.; Prime Commercial District: Situated in Rockland County's Commercial District.
