Medical Space with Redevelopment
For Sale
$6,500,000
161 E Main Street, Port Jervis, NY 12771
28,000 SF medical space suitable for redevelopment.
Property Size44,480 SF
Price / SF$232.14
Days on Market231
Property Features for 161 E Main Street
General Information
Standard status
Active
Size
44,480 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$86,408
Building Details
Building Size
44,480 SF
Stories
3
Listing Agency:
Rand Commercial
Listed By:
Hilary R. Goldman (hilaryryan.goldman@randcommercial.com) · License #NY10401341414
(845) 500-0784
Source:
Edifyny
Added: Mar 5
Changed: Oct 7
Last Checked: Oct 20 at 8:03PM
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 Rand Commercial
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Investment Insights
Based on property information with market context.
This property offers approximately 28,000 square feet of medical space situated within the NMU zoning district. It presents adaptive re-use potential for developers and investors. The existing build-out includes medical-grade finishes, ADA-compliant design, exam rooms, patient bays, and imaging areas. Two large, open suites are located on the first and second floors, ready for new layouts. The property features existing lighting and HVAC systems, wide corridors, and a medical elevator to facilitate circulation. Located at the gateway to the City of Port Jervis, the property is approximately 1 mile from the MTA Port Jervis line and benefits from an average annual daily traffic count of approximately 10,000, offering brand visibility. Port Jervis is undergoing downtown revitalization supported by a DRI award, with local government initiatives focused on affordable housing, streamlined planning, IDA redevelopment, and expanded water capacity to support increased housing and manufacturing. The property is suitable for medical, mixed-use, residential over commercial, or institutional redevelopment, subject to approvals, within a pro-growth, investment-friendly environment.
Key Highlights
- 28,000 SF of medical space with adaptive re‑use potential.
- Existing medical‑grade build‑out featuring exam rooms, patient bays, and imaging areas.
- Located at the gateway to Port Jervis, 1 mile from the MTA Port Jervis line, with high traffic (~10,000 AADT).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$497,871
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,957,420
$10.0M
Cap Rate 7%
$7,112,443
$7.1M
Cap Rate 9%
$5,531,900
$5.5M
Market Conditions
NOI Build-Up for 28,000 SF
Gross rent
$940.8K $33.60/SF
− Vacancy
−$111.0K −$3.96/SF
EGI
$829.8K $29.64/SF
− OpEx
−$331.9K −$11.85/SF
NOI
$497.9K $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 Rate 5%
$9,957,420
Cap Rate 7%
$7,112,443
Cap Rate 9%
$5,531,900
Alternative Uses
Best Use
Healthcare Medical
$7.11M
$6.22M – $8.30M
NOI $497,871 @ 7.0% cap · market cap 7.66%
Second Best
Office B
$6.69M
$5.86M – $7.81M
NOI $468,518 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$9.48M
$8.30M – $11.06M
NOI $663,828 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12771, NY
14,423
Population
6,163
Households
2.3
Avg Household Size
41
Median Age
21%
College-Educated
91%
High-School Grad
34.6 sq mi
ZIP Area
417
Density / Sq Mi
$67,926
Median Household Income
$38,539
Median Earnings
$1,310
Median Rent
$246,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- NANCY HALLAM-SMITH — 33 Jersey Ave, Port Jervis, NY 12771
- Tri-State Veterinary Hospital — 33 Jersey Ave, Port Jervis, NY 12771
Frequently Asked Questions
What type of property is this?
Medical Office Space - 28,000 SF medical space suitable for redevelopment.
Where is this medical office space located?
The property is located at 161 E Main Street Port Jervis, NY.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 28,000 SF of medical space with adaptive re‑use potential.; Existing medical‑grade build‑out featuring exam rooms, patient bays, and imaging areas.; Located at the gateway to Port Jervis, 1 mile from the MTA Port Jervis line, with high traffic (~10,000 AADT).
