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 Size28,000 SF
Lot Size1.02 Acres
Price / SF$232.14
Days on Market277
Property Features for 161 E Main Street
General Information
Standard status
Active
Size
28,000 SF
Lot size
1.02 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$86,408
Amenities
Central air
Central Air Cooling
Forced Air Heating
Near Public Transit
Off Street
Parking Lot
Part Wooded
Private
Listing Agency:
RAND COMMERCIAL
(845) 294-3100
Listed By:
HILARY R. GOLDMAN · License #NY10401341414
Source:
Corcoran
Added: Nov 12, 2025
Changed: Aug 14
Last Checked: Aug 16 at 6:24AM
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.
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 = 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
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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).
