Elevator-Served Mixed-Use
For Sale
$6,900,000
122 Greenwich Avenue Goshen, Ny, NY 10924
Four-story mixed-use property with 12 occupied luxury apartments and a ground-floor commercial office suite.
Property Size14,000 SF
Price / SF$492.86
Days on Market29
Property Features for 122 Greenwich Avenue Goshen
General Information
Standard status
Active
Size
14,000 SF
Class
A
Total Parking Spaces
12
Zoning
02017
Occupancy
100%
Units
Multifamily Units
12
Office Units
1
Additional Details
Business Included
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$30,000
Amenities
No
Public
12
Garage, Private
14000
Building Details
Building Size
14,000 SF
Year Built
2025
Stories
4
Tenancy
Multi
Listing Agency:
(718) 684-8000
Listed By:
Mohammed Amran
(718) 684-8000
Source:
Parkassets
Added: Jul 13
Changed: Aug 8
Last Checked: Aug 10 at 2:35AM
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 Mohammed Amran
Investment Insights
Based on property information with market context.
The Legacy is a newly constructed mixed-use community built in 2025. The four-story, elevator-served building contains 12 fully occupied residential units with two bedrooms and two bathrooms, open-concept layouts, stone countertops, stainless steel appliances, and in-unit washers and dryers. Residents benefit from secure access, structured ground-floor parking, a private rooftop terrace, and professionally designed common areas.
The property also includes a ground-level commercial office suite with a private bathroom, providing flexible space for professional office use within the same building.
On the systems side, the building is equipped with a wet-pipe sprinkler system, elevator service, and new-construction warranties. The asset is located in the Village of Goshen in Orange County, with proximity to shopping, dining, schools, parks, and major commuter routes.
The property also includes a ground-level commercial office suite with a private bathroom, providing flexible space for professional office use within the same building.
On the systems side, the building is equipped with a wet-pipe sprinkler system, elevator service, and new-construction warranties. The asset is located in the Village of Goshen in Orange County, with proximity to shopping, dining, schools, parks, and major commuter routes.
Key Highlights
- Newly constructed 2025 four‑story mixed‑use building with elevator service
- Contains 12 fully occupied luxury residential units (2 bed, 2 bath each)
- Each unit includes open‑concept layout, stone countertops, stainless steel appliances, and in‑unit washer/dryer
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
$446,250
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
6.47%
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%
$8,925,000
$8.9M
Cap Rate 7%
$6,375,000
$6.4M
Cap Rate 9%
$4,958,333
$5.0M
Market Conditions
NOI Build-Up for 14,000 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
$840.0K $60.00/SF
− Vacancy
−$126.0K −$9.00/SF
EGI
$714.0K $51.00/SF
− OpEx
−$267.8K −$19.13/SF
NOI
$446.3K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$8,925,000
Cap Rate 7%
$6,375,000
Cap Rate 9%
$4,958,333
Alternative Uses
Best Use
Mixed Use
$6.37M
$5.58M – $7.44M
NOI $446,250 @ 7.0% cap · market cap 6.47%
Second Best
Office B
$6.26M
$5.48M – $7.31M
NOI $438,378 @ 7.0% cap · market cap 6.35%
Theoretical Best
Specialty Retail
$34.85M
$30.49M – $40.66M
NOI $2,439,360 @ 7.0% cap · market cap 35.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 10924, NY
14,006
Population
5,178
Households
2.7
Avg Household Size
44
Median Age
42%
College-Educated
90%
High-School Grad
40.1 sq mi
ZIP Area
349
Density / Sq Mi
$114,567
Median Household Income
$64,567
Median Earnings
$1,668
Median Rent
$433,600
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?
Mixed-use property - Four-story mixed-use property with 12 occupied luxury apartments and a ground-floor commercial office suite.
Where is this mixed-use property located?
The property is located at 122 Greenwich Avenue Goshen Ny, NY.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: Newly constructed 2025 four‑story mixed‑use building with elevator service; Contains 12 fully occupied luxury residential units (2 bed, 2 bath each); Each unit includes open‑concept layout, stone countertops, stainless steel appliances, and in‑unit washer/dryer
