Building Details

Tenancy Single

Listing Agency: EXP REALTY Show Phone

Listed By: VIRGINIA CORBETT · License #10401314602 Show Phone

Source: Corcoran

Added: Sep 8 Changed: Oct 25 Last Checked: Oct 24 at 5:28PM

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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.

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 / Yr

$24,253

Cap Rate

8.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$485,060 $485.1K

Cap Rate 7%

$346,471 $346.5K

Cap Rate 9%

$269,478 $269.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,496 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $69,239 @ 7.0% cap · market cap 24.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Hairport Hairstyles Hair Salon

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Auto Repair Shop Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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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