Multifamily Property For
For Sale
$350,000
Pending
44-46 Kinney St, Piermont, NY 10968
Multifamily property for sale, sold as is.
Property Size900 SF
Lot Size0.04 Acres
Days on Market266
Property Features for 44-46 Kinney St
General Information
Standard status
Pending
Size
900 SF
Lot size
0.04 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$9,205
Building Details
Building Size
900 SF
Year Built
1900
Units
2
Listing Agency:
(845) 517-8188
Listed By:
Daniel S. Colomban
(845) 517-8188
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 14
Last Checked: Aug 20 at 9:50AM
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 Daniel S. Colomban
Investment Insights
Based on property information with market context.
This multifamily property is for sale and is being sold as is, subject to lender third-party approval. The basement of the subject property is connected to 48-50 Kinney. Preference is to sell both properties to the same buyer. Additional rent roll information is available under Other.
Key Highlights
- Property includes a basement.
- Built in 1900.
- Connected to 48‑50 Kinney.
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
$14,749
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
4.21%
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%
$294,980
$295.0K
Cap Rate 7%
$210,700
$210.7K
Cap Rate 9%
$163,878
$163.9K
Market Conditions
NOI Build-Up for 900 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
$28.6K $31.80/SF
− Vacancy
−$1.8K −$2.00/SF
EGI
$26.8K $29.80/SF
− OpEx
−$12.1K −$13.41/SF
NOI
$14.7K $16.39/SF
Area
Rockland County, NY
Vacancy
6.30%
Lease Rate
$31.80 /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%
$294,980
Cap Rate 7%
$210,700
Cap Rate 9%
$163,878
Alternative Uses
Best Use
Apartment 5plus
$210.7K
$184.4K – $245.8K
NOI $14,749 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$595.1K
$520.7K – $694.2K
NOI $41,654 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 10968, NY
2,435
Population
1,345
Households
1.8
Avg Household Size
50
Median Age
66%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
4,058
Density / Sq Mi
$132,105
Median Household Income
$82,386
Median Earnings
$2,019
Median Rent
$615,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property for sale, sold as is.
Where is this multifamily property located?
The property is located at 44-46 Kinney St Piermont, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Property includes a basement.; Built in 1900.; Connected to 48‑50 Kinney.
