High-Visibility Building on Route
For Sale
$3,500,000
170 Route 59, Spring Valley, NY 10977
Freestanding 4,830 SF building in Spring Valley, NY.
Property Size4,830 SF
Lot Size0.39 Acres
Price / SF$724.64
Days on Market173
Property Features for 170 Route 59
General Information
Standard status
Active
Size
4,830 SF
Lot size
0.39 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$65,440
Building Details
Building Size
4,830 SF
Stories
1
Listing Agency:
CENTURY 21 ELITE REALTY
(917) 414-8736
Listed By:
Vesna Kanacki · License #10491211676
(917) 414-8736
Source:
Elliman
Added: Mar 10
Changed: Aug 27
Last Checked: Aug 29 at 12:10PM
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 CENTURY 21 ELITE REALTY
Investment Insights
Based on property information with market context.
Located in the Village of Spring Valley, at the heart of Rockland County's most traveled commercial corridor, this 4,830 square foot office property offers an opportunity to own a free-standing, high-visibility building. The property is situated on a 0.39-acre parcel with dual access points and direct frontage along New York State Route 59, and exit on Dutch Lane. The location provides visibility from approximately 25,000 to 35,000 vehicles per day. Route 59 connects Suffern, Spring Valley, Nanuet, Nyack, and the New York State Thruway (I-87/I-287). The location offers connectivity to Route 304, the Palisades Interstate Parkway, and the NYS Thruway, positioning it within minutes of retail, financial, and residential centers throughout Rockland County. The building features a masonry and glass façade. The interior includes a lobby and teller area, private offices, a conference room, IT center, a secure vault, and administrative workspace. Exterior features include an asphalt parking lot with 20 spots, signage, and curb appeal along Route 59. The site is zoned GB – General Business, allowing professional and retail uses including medical, banking, insurance, law, accounting, or office/showroom. Its corner lot configuration and vehicular exposure make it suitable for institutional use or redevelopment into a commercial or mixed-use concept.
Key Highlights
- High‑visibility location on Route 59 with 25,000‑35,000 vehicles passing daily.
- Strategic location with immediate connectivity to major roadways (Route 304, Palisades Interstate Parkway, NYS Thruway).
- Flexible 4,830 SF single‑story building suitable for single or multi‑tenant occupancy.
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
$137,746
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
3.94%
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%
$2,754,920
$2.8M
Cap Rate 7%
$1,967,800
$2.0M
Cap Rate 9%
$1,530,511
$1.5M
Market Conditions
NOI Build-Up for 4,830 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
$217.4K $45.00/SF
− Vacancy
−$33.7K −$6.98/SF
EGI
$183.7K $38.03/SF
− OpEx
−$45.9K −$9.51/SF
NOI
$137.7K $28.52/SF
Area
Rockland County, NY
Vacancy
15.50%
Lease Rate
$45.00 /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%
$2,754,920
Cap Rate 7%
$1,967,800
Cap Rate 9%
$1,530,511
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,746 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.19M
$2.79M – $3.73M
NOI $223,544 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 10977, NY
71,049
Population
17,339
Households
4.1
Avg Household Size
24
Median Age
23%
College-Educated
77%
High-School Grad
11.3 sq mi
ZIP Area
6,288
Density / Sq Mi
$77,724
Median Household Income
$33,129
Median Earnings
$1,711
Median Rent
$602,300
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?
Office building - Freestanding 4,830 SF building in Spring Valley, NY.
Where is this office building located?
The property is located at 170 Route 59 Spring Valley, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: High‑visibility location on Route 59 with 25,000‑35,000 vehicles passing daily.; Strategic location with immediate connectivity to major roadways (Route 304, Palisades Interstate Parkway, NYS Thruway).; Flexible 4,830 SF single‑story building suitable for single or multi‑tenant occupancy.
