Storefront Property with Private
New
For Sale
$280,000
172 Fairfield Drive, Brewster, NY 10509
Commercial and residential zoning supports flexible use, with an existing tenant already in place.
Property Size1,496 SF
Price / SF$187.17
Days on Market3
Property Features for 172 Fairfield Drive
General Information
Standard status
Active
Size
1,496 SF
Total Parking Spaces
8
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,999
Amenities
attic space
outdoor rear space
Oil Heating
Building Details
Tenancy
Single
Listing Agency:
EXP REALTY
(888) 276-0630
Listed By:
VIRGINIA CORBETT · License #10401314602
(845) 582-7994
Source:
Corcoran
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 3:34PM
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 EXP REALTY
Investment Insights
Based on property information with market context.
This storefront property provides 1,496 square feet of commercial space with an existing tenant in place. The improvements include attic storage, eight private parking spaces, and an outdoor area at the rear that can accommodate breaks, utility functions, or other property needs.
The property is located at 172 Fairfield Drive in Brewster, New York, within a commercial area offering access to major roadways. Commercial and residential zoning allows for flexibility in the property’s current use and other uses subject to local zoning regulations.
The property is located at 172 Fairfield Drive in Brewster, New York, within a commercial area offering access to major roadways. Commercial and residential zoning allows for flexibility in the property’s current use and other uses subject to local zoning regulations.
Key Highlights
- 1,496‑square‑foot storefront property with an existing tenant
- Eight private parking spaces
- Attic area provides additional storage
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
$24,253
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
8.66%
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%
$485,060
$485.1K
Cap Rate 7%
$346,471
$346.5K
Cap Rate 9%
$269,478
$269.5K
Market Conditions
NOI Build-Up for 1,496 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
$35.9K $24.00/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$34.6K $23.16/SF
− OpEx
−$10.4K −$6.95/SF
NOI
$24.3K $16.21/SF
Area
Putnam County, NY
Vacancy
3.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$485,060
Cap Rate 7%
$346,471
Cap Rate 9%
$269,478
Alternative Uses
Best Use
Retail
$346.5K
$303.2K – $404.2K
NOI $24,253 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$989.1K
$865.5K – $1.15M
NOI $69,239 @ 7.0% cap · market cap 24.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Dining 8%
Citgo
Shops & Services
2,799 visits/mo
0.1 miles
Uncle Louie G
Dining
249 visits/mo
0.4 miles
Demographics for 10509, NY
19,501
Population
7,839
Households
2.5
Avg Household Size
44
Median Age
43%
College-Educated
91%
High-School Grad
36.1 sq mi
ZIP Area
540
Density / Sq Mi
$120,987
Median Household Income
$59,048
Median Earnings
$1,836
Median Rent
$430,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial and residential zoning supports flexible use, with an existing tenant already in place.
Where is this storefront property located?
The property is located at 172 Fairfield Drive Brewster, NY.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,496‑square‑foot storefront property with an existing tenant; Eight private parking spaces; Attic area provides additional storage
