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    4 The Ln Somers, NY 10589

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    For Sale
    $449,900

    Commercial property in Somers Business District with potential for retail.

    Lot size:
    0.08 Acres

    Property Features for 4 The Ln

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.08 Acres

    Building Details

    Year built
    1832

    We can help!

    Listing Contact
    Joseph Kuhl
    Joseph Kuhl
    Source: Elliman

    Listing Agency: River Realty Services Listing Agent: Joseph Kuhl

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

    Learn more

    Overview

    Somers Commercial Property on Route 202

    Located in the heart of the Town of Somers Business District, this classic brick Federal Colonial is situated on a private cul-de-sac directly off Route 202. The B-HP zoning appears to offer a multitude of low-intensity commercial uses such as professional and personal service office, as well as small scale retail use. The current layout includes a renovated first floor with hardwood floors, a large living room with a fireplace, a full dining room, a semi-modern kitchen, a half bath, and a heated rear enclosed porch. The second floor features two large bedrooms, a full bath, and two smaller multi-use rooms. The third floor allows for expansion and was finished many years ago as four additional rooms, but due to the need for renovation, it is not considered in the current square footage. The property also includes a partial full basement and an additional crawl space area. Utilities have been updated with a newer oil Forced Hot Air furnace and basement oil tank, an electric 40-gallon HW heater, and a 200 Amp service entrance panel. The property was last used as a single-family residence.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Somers
    County
    Westchester
    State
    New York
    Longitude
    -73.6869287
    Latitude
    41.3276673

    Nearby Similar for Sale

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      Standalone Commercial Office Building For Sale

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      Move-in Ready Heritage Hills Unit

      Two-bedroom unit with flexible floor plan and woodland views.
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      Route 202 Specialty Property

      Specialty property available for sale on Route 202.
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    FAQs

    What type of property is this?
    Office units - Commercial property in Somers Business District with potential for retail.
    Where is this office units located?
    The property is located at 4 The Ln Somers, NY.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: - B-HP zoning allows for commercial use (office, retail).; - Prime location in the heart of Somers Business District, directly off Route 202.; - Renovated first floor featuring hardwood floors, fireplace, and semi-modern kitchen.
    (914) 776-4576
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    4 The Ln Somers, NY 10589
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    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
    4 The Ln Somers, NY 10589
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    We can help!
    Listing Contact
    Joseph Kuhl
    Joseph Kuhl
    Real Estate License ID: 10301220943
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