Mixed-Use Property in Downtown
98 Main St Nyack, NY 10960
For Sale
$1,599,999
Pending
Fully occupied mixed-use property with retail and residential units.
Property Size9,456 SF
Days on Market95
Property Features for 98 Main St
General Information
Standard status
Pending
Size
9,456 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Ellis Sotheby's International Realty
(845) 641-2525
Listed By:
Alex A Vursta · License #40VU0892886
(845) 641-2525
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 1:03PM
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 Ellis Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 9,456 square foot mixed-use property is located in the Village of Nyack, overlooking the downtown corridor. The property features four residential units and one retail space. The retail space is leased to an established commercial tenant with a 5-year lease and interest in extending. The four residential units are loft-style, featuring high ceilings, oversized windows, hardwood floors, exposed brick, granite countertops, maple cabinetry, dishwashers, and in-unit washer/dryers. The residential units are on 12-month leases. The retail space includes rear access, dedicated parking, and a full basement. The property is located near municipal parking, public transportation, the Hudson River waterfront, and parks and trails. The property is 100% occupied with long-term tenants. The location has a walk score of 88, indicating it is very walkable, and a bike score of 43, indicating it is somewhat bikeable. The property has been under the same ownership for over 35 years.
Key Highlights
- Prime Downtown Nyack Location: Walkable area near the Hudson River, parks, transit, and the downtown core.
- Immediate and Durable Cash Flow: 100% occupied with long‑term tenants across 5 units.
- Upside Potential: Opportunity to increase returns through commercial lease renewal and residential rent optimization.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $198.6k | $21.00 |
| − Vacancy | −$8.3k | −$0.88 |
| EGI | $190.2k | $20.12 |
| − OpEx | −$57.1k | −$6.04 |
| NOI | $133.2k | $14.08 |
9,456 SF · lease $21.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.94M – $2.58M
NOI $154,966 @ 7.0% cap · market cap 9.69%
Second Best
Retail
$1.90M
$1.66M – $2.22M
NOI $133,165 @ 7.0% cap · market cap 8.32%
Theoretical Best
Specialty Retail
$6.25M
$5.47M – $7.29M
NOI $437,647 @ 7.0% cap · market cap 27.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied mixed-use property with retail and residential units.
Where is this mixed-use property located?
The property is located at 98 Main St Nyack, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Prime Downtown Nyack Location: Walkable area near the Hudson River, parks, transit, and the downtown core.; Immediate and Durable Cash Flow: 100% occupied with long‑term tenants across 5 units.; Upside Potential: Opportunity to increase returns through commercial lease renewal and residential rent optimization.
