For Sale
$6,500,000
161 E Main St, Port Jervis, NY 12771
Medical Office Space
Property Size28,000 SF
Lot Size1.02 Acres
Price / SF$232.14
Days on Market165
Property Features for 161 E Main St
General Information
Standard status
Active
Size
28,000 SF
Lot size
1.02 Acres
Property subtype
Commercial
Listing Agency:
RAND COMMERCIAL
(845) 500-0784
Listed By:
Hilary R. Goldman · License #NY10401341414
(845) 500-0784
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Aug 21 at 8:50AM
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
Investment Insights
Based on property information with market context.
Key Highlights
- Exceptional adaptive re‑use potential in NMU zoning district.
- Approximately 28,000 SF of medical space with existing medical‑grade finishes, ADA‑compliant design, exam rooms, patient bays, and imaging areas.
- Located at the gateway to Port Jervis, 1 mile from the MTA Port Jervis line, with ~10,000 AADT for strong brand visibility.
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
$408,240
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
6.28%
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%
$8,164,800
$8.2M
Cap Rate 7%
$5,832,000
$5.8M
Cap Rate 9%
$4,536,000
$4.5M
Market Conditions
NOI Build-Up for 28,000 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
$756.0K $27.00/SF
− Vacancy
−$75.6K −$2.70/SF
EGI
$680.4K $24.30/SF
− OpEx
−$272.2K −$9.72/SF
NOI
$408.2K $14.58/SF
Area
Sullivan County, NY
Vacancy
10.00%
Lease Rate
$27.00 /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%
$8,164,800
Cap Rate 7%
$5,832,000
Cap Rate 9%
$4,536,000
Alternative Uses
Best Use
Healthcare Medical
$5.83M
$5.10M – $6.80M
NOI $408,240 @ 7.0% cap · market cap 6.28%
Second Best
Office B
$5.62M
$4.91M – $6.55M
NOI $393,120 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$7.68M
$6.72M – $8.96M
NOI $537,600 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
Where is this medical office space located?
The property is located at 161 E Main St 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: Exceptional adaptive re‑use potential in NMU zoning district.; Approximately 28,000 SF of medical space with existing medical‑grade finishes, ADA‑compliant design, exam rooms, patient bays, and imaging areas.; Located at the gateway to Port Jervis, 1 mile from the MTA Port Jervis line, with ~10,000 AADT for strong brand visibility.
