Turn-Key Mixed-Use Corner
For Sale
$930,000
47 Lander St, Newburgh, NY 12550
Fully gut-renovated mixed-use building with two ground-floor restaurant/commercial spaces and two rental apartments.
Property Size5,180 SF
Days on Market100
Property Features for 47 Lander St
General Information
Standard status
Active
Size
5,180 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,825
Building Details
Building Size
5,180 SF
Year Built
2010
Stories
1
Units
4
Listing Agency:
Corcoran Country Living
(212) 363-0864
Listed By:
Yves S. Bouzaglo · License #10401365340 (NY)
(212) 363-0864
Source:
Elliman
Added: May 9
Changed: Aug 8
Last Checked: Aug 16 at 6:48AM
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 Corcoran Country Living
Investment Insights
Based on property information with market context.
47 Lander Street is a fully gut-renovated mixed-use building built circa 1870 and taken to the studs. The property has been transformed with new major systems throughout, including a new roof, electrical, plumbing, and HVAC with mini-split systems in every unit and apartment. A full-building sprinkler system is in place, along with new sidewalk improvements.
The building includes two turn-key ground-floor restaurant and commercial spaces, each fully built out and ready to operate (businesses sold separately), plus one two-bedroom residential apartment and one one-bedroom residential apartment. A private alleyway with two access points wraps the building, and the property is positioned as a corner with brand-new sidewalks and curb appeal.
Located in Newburgh’s East End Historic District, the building is one block from Broadway, within walking distance of the Newburgh Waterfront and Hudson River, and minutes to Beacon Metro-North Station. The area is described as very walkable, with a Bike Score of 55 and a Walk Score of 87.
The building includes two turn-key ground-floor restaurant and commercial spaces, each fully built out and ready to operate (businesses sold separately), plus one two-bedroom residential apartment and one one-bedroom residential apartment. A private alleyway with two access points wraps the building, and the property is positioned as a corner with brand-new sidewalks and curb appeal.
Located in Newburgh’s East End Historic District, the building is one block from Broadway, within walking distance of the Newburgh Waterfront and Hudson River, and minutes to Beacon Metro-North Station. The area is described as very walkable, with a Bike Score of 55 and a Walk Score of 87.
Key Highlights
- 2010‑built mixed‑use building at 47 Lander Street in Newburgh’s East End Historic District, fully gut‑renovated for move‑in readiness
- New in every system: roof, electrical, plumbing, HVAC with mini‑split systems throughout, plus a full‑building sprinkler system
- Two turn‑key ground‑floor restaurant/commercial spaces, fully built out and ready to operate (businesses sold separately)
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
$45,035
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
4.84%
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%
$900,700
$900.7K
Cap Rate 7%
$643,357
$643.4K
Cap Rate 9%
$500,389
$500.4K
Market Conditions
NOI Build-Up for 5,180 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
$62.2K $12.00/SF
− Vacancy
−$2.1K −$0.41/SF
EGI
$60.0K $11.59/SF
− OpEx
−$15.0K −$2.90/SF
NOI
$45.0K $8.69/SF
Area
Orange County, NY
Vacancy
3.40%
Lease Rate
$12.00 /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%
$900,700
Cap Rate 7%
$643,357
Cap Rate 9%
$500,389
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,894 @ 7.0% cap · market cap 10.42%
Second Best
Specialty Retail
$643.4K
$562.9K – $750.6K
NOI $45,035 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.75M
$1.54M – $2.05M
NOI $122,808 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,526
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12550, NY
55,869
Population
22,204
Households
2.5
Avg Household Size
37
Median Age
26%
College-Educated
86%
High-School Grad
34.7 sq mi
ZIP Area
1,610
Density / Sq Mi
$78,019
Median Household Income
$40,762
Median Earnings
$1,466
Median Rent
$297,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully gut-renovated mixed-use building with two ground-floor restaurant/commercial spaces and two rental apartments.
Where is this conventional restaurant located?
The property is located at 47 Lander St Newburgh, NY.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: 2010‑built mixed‑use building at 47 Lander Street in Newburgh’s East End Historic District, fully gut‑renovated for move‑in readiness; New in every system: roof, electrical, plumbing, HVAC with mini‑split systems throughout, plus a full‑building sprinkler system; Two turn‑key ground‑floor restaurant/commercial spaces, fully built out and ready to operate (businesses sold separately)
