Retail Site in Rockland
For Sale
Contact for pricing
123 NY-59, Nanuet, NY 10954
8,400 SF retail site in Nanuet, NY for sale.
Property Size8,400 SF
Lot Size0.54 Acres
Price / SF$577.38
Days on Market713
Property Features for 123 NY-59
General Information
Standard status
Active
Size
8,400 SF
Lot size
0.54 Acres
Property subtype
Retail
Zoning
RS
Lease Type
NNN
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Listing Agency:
Triforce Commercial Real Estate LLC
(845) 450-6500
Listed By:
Jason Horowitz · License #NY - 10491207540
Source:
Crexi
Added: Sep 8, 2024
Changed: Aug 14
Last Checked: Aug 20 at 8:01AM
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 LLC
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 in the commercial district of Rockland County, Nanuet, New York. Located on Route 59, the site benefits from high traffic volume, with NYS DOT reporting over 850,000 vehicles passing by in 2019. 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: Over 850,000 cars passed the site in 2019.
- Large 8,400 +\/- SF Retail Space.
- Prime Commercial District in the heart of Rockland County.
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
1,178
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 52%
Dining 28%
Shops & Services 12%
Electronics 7%
HomeGoods
Home Improvements & Furnishings
39,059 visits/mo
0.4 miles
Buffalo Wild Wings
Dining
20,155 visits/mo
0.4 miles
Cohen's Fashion Optical
Shops & Services
6,569 visits/mo
0.4 miles
GameStop
Electronics
6,099 visits/mo
0.4 miles
Playa Bowls
Dining
5,651 visits/mo
0.4 miles
Demographics for 10954, NY
24,248
Population
10,041
Households
2.4
Avg Household Size
44
Median Age
47%
College-Educated
90%
High-School Grad
6.9 sq mi
ZIP Area
3,514
Density / Sq Mi
$112,927
Median Household Income
$55,985
Median Earnings
$2,184
Median Rent
$502,300
Median Home Value
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 Nanuet, NY 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: Over 850,000 cars passed the site in 2019.; Large 8,400 +\/- SF Retail Space.; Prime Commercial District in the heart of Rockland County.
