Ambulance Facility Investment
For Sale
$785,000
31-59 Peach Pl, Middletown, NY 10940
Single-tenant NNN ambulance facility with renewal term through June 2029.
Property Size3,864 SF
Days on Market127
Property Features for 31-59 Peach Pl
General Information
Standard status
Active
Size
3,864 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$20,391
Building Details
Building Size
3,864 SF
Stories
1
Listing Agency:
MCGRATH REALTY INC
(845) 896-5444
Listed By:
Ryan P. McGrath · License #10401313731
(845) 896-5444
Source:
Elliman
Added: Apr 28
Changed: Aug 14
Last Checked: Aug 31 at 6:41PM
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 MCGRATH REALTY INC
Investment Insights
Based on property information with market context.
This purpose-built ambulance facility, delivered in 1998, is projecting $54,906 in Year 1 Net Operating Income (NOI) under the First Renewal Term, which runs through June 2029. The lease includes one additional 3-year option extending through June 2032. Operating under a single-tenant NNN lease structure, the agreement features CPI-or-3% escalators. The landlord has issued the First Renewal Term amendment to the tenant under identical terms, with the corporate guaranty expressly extended; tenant execution is pending. The property is available as a standalone acquisition or as part of a three-property portfolio that includes locations in Newburgh and Kingston. The bike score is 8, indicating it is somewhat bikeable, and the walk score is 11, indicating it is car-dependent.
Key Highlights
- Projected $54,906 Year 1 NOI under First Renewal Term.
- Single‑tenant NNN lease structure.
- Lease runs through June 2029 with a 3‑year option through June 2032.
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
$68,706
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
8.75%
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%
$1,374,120
$1.4M
Cap Rate 7%
$981,514
$981.5K
Cap Rate 9%
$763,400
$763.4K
Market Conditions
NOI Build-Up for 3,864 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
$129.8K $33.60/SF
− Vacancy
−$15.3K −$3.96/SF
EGI
$114.5K $29.64/SF
− OpEx
−$45.8K −$11.85/SF
NOI
$68.7K $17.78/SF
Area
Orange County, NY
Vacancy
11.80%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,374,120
Cap Rate 7%
$981,514
Cap Rate 9%
$763,400
Alternative Uses
Best Use
Healthcare Medical
$981.5K
$858.8K – $1.15M
NOI $68,706 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,608 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 10940, NY
52,803
Population
19,930
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
63.1 sq mi
ZIP Area
837
Density / Sq Mi
$87,198
Median Household Income
$46,435
Median Earnings
$1,600
Median Rent
$301,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Single-tenant NNN ambulance facility with renewal term through June 2029.
Where is this medical center located?
The property is located at 31-59 Peach Pl Middletown, NY.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Projected $54,906 Year 1 NOI under First Renewal Term.; Single‑tenant NNN lease structure.; Lease runs through June 2029 with a 3‑year option through June 2032.
