Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    233 Route 59 Suffern, NY 10901

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $899,900

    Commercial hub near hospital with development potential and rental income.

    Lot size:
    0.34 Acres

    Property Features for 233 Route 59

    General Information

    Standard status
    Active
    Lot size
    0.34 Acres

    Building Details

    Year built
    1918

    We can help!

    Listing Contact
    Asher Frankel
    Source: Corcoran

    Listing Agency: MARK ONE REAL ESTATE Listing Agent: Asher Frankel

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Opportunity in Top Location

    This property presents a commercial opportunity in a busy commercial hub, situated near Good Samaritan Hospital and close to the New Jersey border and major arteries. The site includes a currently rented, updated 4-bedroom colonial home generating $3,000 a month in rental income. The house features a new kitchen and appliances, a large dining room and living room, and a full walkout basement. Parking is available for multiple cars. The property also includes a level backyard and a detached two-car garage, previously used as a workshop. The owner has plans to build an office building on this site, although the plans are not yet approved. House size, lot size, and taxes are approximate.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffern
    County
    Rockland
    State
    New York
    Longitude
    -74.107017
    Latitude
    41.111383

    Nearby Similar for Sale

    • $499,000
      0.21 Acres

      Suffern Office Opportunity For Sale

      Converted residence ideal for owner-occupancy and sublease income.
      162 Orange Ave, Suffern, NY 10901
      View Details
    • New
      $789,222
      0.17 Acres

      Well-Maintained Income-Producing Two-Family Property

      Income-producing two-family property, perfect for owner-occupants or investors.
      5 Highland Ave, Suffern, NY 10901
      View Details
    • $899,900
      0.34 Acres

      Suffern Commercial Opportunity Near Hospital

      Commercial opportunity near hospital, close to NJ border.
      233 Route 59, Suffern, NY 10901
      View Details
    • $999,000
      Pending

      Suffern Multifamily Investment Opportunity

      Four-unit multifamily property in Suffern, NY, near amenities.
      22 Park Pl, Suffern, NY 10901
      View Details
    • $899,000
      Pending

      Mixed-Use Property in Suffern, NY

      Multi-family and mixed-use property with apartments and commercial space.
      18-20 E Park Pl, Suffern, NY 10901
      View Details
    • $535,000
      Pending

      Suffern Office in Business District

      Converted residence in Suffern's business district, ideal for office use.
      162 Orange Ave, Suffern, NY 10901
      View Details
    • $1,799,999

      Route 59 Commercial Opportunity

      Strategically located commercial property on Route 59 in Suffern, NY.
      81 Route 59, Suffern, NY 10901
      View Details
    • $600,000

      Downtown Suffern Commercial Building

      Commercial building in downtown Suffern with high visibility.
      41 Lafayette Ave, Suffern, NY 10901
      View Details
    • New
      $975,000

      Mixed-Use Property with Parking

      Mixed-use property featuring commercial spaces, apartments, and private parking.
      24 Lafayette Ave, Suffern, NY 10901
      View Details
    • $105,000

      Spacious First Floor Coop Unit

      First floor coop near downtown Suffern with many amenities.
      6 Sussex Ct, Suffern, NY 10901
      View Details
    • $125,000

      Spacious Co-op Unit in Suffern

      One-bedroom co-op with terrace, close to amenities and transport.
      5 Oakdale Mnr, Suffern, NY 10901
      View Details
    • New
      $9,750,000

      Suffern Mixed-Use Investment Opportunity

      Fully leased mixed-use building with residential, commercial, and live-work spaces.
      90-100 Orange Ave, Suffern, NY 10901
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial hub near hospital with development potential and rental income.
    Where is this commercial land located?
    The property is located at 233 Route 59 Suffern, NY.
    What is the asking price?
    The asking price for this property is $899,900.
    What are key features of this property?
    This property features: - Prime commercial location on a busy hub, near Good Samaritan Hospital, New Jersey border, and major roads.; - Currently rented for $3,000 per month, providing immediate income.; - Updated 4-bedroom colonial with a **new kitchen and appliances**.
    (845) 357-4004
    Request Owner's contact information
    233 Route 59 Suffern, NY 10901
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    233 Route 59
    Suffern, NY 10901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    233 Route 59 Suffern, NY 10901
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Asher Frankel
    Real Estate License ID: 10311208555
    (845) 357-4004 (845) 425-9165
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!