Renovated Medical Office
For Sale
$395,000
Pending
11 Medical Park Dr, Pomona, NY 10970
Turn-key medical office condo with easy hospital access.
Property Size1,023 SF
Lot Size1.92 Acres
Days on Market165
Property Features for 11 Medical Park Dr
General Information
Standard status
Pending
Size
1,023 SF
Lot size
1.92 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,108
Building Details
Building Size
1,023 SF
Listing Agency:
NOVA NORTH COMMERCIAL
(845) 709-0929
Listed By:
Lynn B Teger
(845) 709-0929
Source:
Elliman
Added: Mar 10
Changed: Jul 10
Last Checked: Jul 10 at 11:30AM
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 NOVA NORTH COMMERCIAL
Investment Insights
Based on property information with market context.
This renovated office condominium unit is located on Medical Park Drive and offers convenient access to hospitals. The ground floor space is currently configured as a medical office and features an impressive glass door entry. It includes four exam rooms equipped with sinks and cabinetry, as well as an executive office with a private bathroom and shower. Additional storage is available in a loft space. The condominium bylaws permit medical or any professional use related to medical, as well as use for a CPA. The property includes five reserved parking spaces, and the complex provides additional unreserved parking. The property is located directly off Route 45 near Exit 12 of the Palisades Parkway. Maintenance fees are $479 per month, and quarterly taxes are $2027.
Key Highlights
- Completely renovated, turn‑key office condominium unit.
- Ideal for medical or professional use (CPA permitted).
- Prime location with easy access to hospitals and Route 45/Palisades Parkway.
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
$29,175
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
7.39%
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%
$583,500
$583.5K
Cap Rate 7%
$416,786
$416.8K
Cap Rate 9%
$324,167
$324.2K
Market Conditions
NOI Build-Up for 1,023 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
$46.0K $45.00/SF
− Vacancy
−$7.1K −$6.98/SF
EGI
$38.9K $38.03/SF
− OpEx
−$9.7K −$9.51/SF
NOI
$29.2K $28.52/SF
Area
Rockland County, NY
Vacancy
15.50%
Lease Rate
$45.00 /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%
$583,500
Cap Rate 7%
$416,786
Cap Rate 9%
$324,167
Alternative Uses
Best Use
Office B
$416.8K
$364.7K – $486.3K
NOI $29,175 @ 7.0% cap · market cap 7.39%
Second Best
Healthcare Medical
$337.0K
$294.9K – $393.1K
NOI $23,588 @ 7.0% cap · market cap 5.97%
Theoretical Best
Specialty Retail
$676.4K
$591.8K – $789.1K
NOI $47,347 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 10970, NY
11,211
Population
4,138
Households
2.7
Avg Household Size
38
Median Age
44%
College-Educated
87%
High-School Grad
11.2 sq mi
ZIP Area
1,001
Density / Sq Mi
$118,445
Median Household Income
$58,935
Median Earnings
$1,877
Median Rent
$362,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key medical office condo with easy hospital access.
Where is this medical office space located?
The property is located at 11 Medical Park Dr Pomona, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Completely renovated, turn‑key office condominium unit.; Ideal for medical or professional use (CPA permitted).; Prime location with easy access to hospitals and Route 45/Palisades Parkway.
