Building Details

Building Size 6,766 SF

Year Built 1970

Buildings 1

Units 5

Tenancy Multi

Listing Agency: Keller Williams Hudson Valley Realty & United

Listed By: Jonathon Z. Lee Show Phone

Source: Elliman

Added: Sep 11 Last Checked: Sep 12 at 9:28AM

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Investment Insights

Based on property information with market context.

This well-maintained mixed-use property at 185 Grange Rd includes approximately 6,000 sq ft across a 6-unit building on 2.9 acres. The fully occupied configuration includes an owner-occupied 3-bedroom, 2-full-bath apartment, coffee shop, fully equipped restaurant, hair salon, adult daycare, and martial arts studio. Built in 1970, the property also provides 40+ parking spaces for occupants and visitors.

Expansion plans are pre-approved for an additional 5,500+ sq ft, 4-unit building with a drive-through. The neighborhood strip center is next to Otisville Elementary School in the Village of Otisville and approximately 3 miles from the Otisville train station, which offers service to New York City. The combination of existing residential and commercial occupancy with approved additional construction supports both owner-occupancy and rental-income operations.

Key Highlights

• Approximately 6,000 sq ft mixed‑use building with 6 units on a 2.9‑acre lot
• Pre‑approved 5,500+ sq ft, 4‑unit expansion building with a drive‑through
• Fully occupied mix includes an apartment, coffee shop, restaurant, hair salon, adult daycare, and martial arts studio

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

$52,245

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

3.49%

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%

$1,044,900 $1.0M

Cap Rate 7%

$746,357 $746.4K

Cap Rate 9%

$580,500 $580.5K

Market Conditions

NOI Build-Up for 6,000 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

$97.2K $16.20/SF

− Vacancy

−$13.6K −$2.27/SF

EGI

$83.6K $13.93/SF

− OpEx

−$31.3K −$5.22/SF

NOI

$52.2K $8.71/SF

Area

Orange County, NY

Vacancy

14.00%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

37.50%

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%

$1,044,900

Cap Rate 7%

$746,357

Cap Rate 9%

$580,500

Alternative Uses

Best Use

Mixed Use

$746.4K

$653.1K – $870.8K (±1% cap)

NOI $52,245 @ 7.0% cap · market cap 3.49%

Second Best

Specialty Retail

$745.2K

$652.1K – $869.4K (±1% cap)

NOI $52,164 @ 7.0% cap · market cap 3.48%

Theoretical Best

Office A

$2.03M

$1.78M – $2.37M (±1% cap)

NOI $142,249 @ 7.0% cap · market cap 9.49%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Budo Jiu-Jitsu MMA ... Training Center Yongheyuan Restaurant Flexible Realtor Real Estate Agency Little Munchkins Preschool High School Mt. Hope Restaurant Restaurant

Suggested Use

Top Pick Dental Office Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Law Firm Veterinary Clinic

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

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

34

Businesses Nearby

Explore this area Business Placement

Demographics for 10963, NY

3,663

Population

1,281

Households

2.9

Avg Household Size

43

Median Age

17%

College-Educated

73%

High-School Grad

13.2 sq mi

ZIP Area

278

Density / Sq Mi

$79,265

Median Household Income

$49,775

Median Earnings

$925

Median Rent

$313,400

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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

6-Unit Mixed-Use Building

185 Grange Road, Otisville, NY 10963

$1,499,000

2.90 Acres

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Mixed-Use Building with Pizzeria

9 Main Street, Otisville, NY 10963

$450,000

0.20 Acres

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully occupied property combines residential space with several established commercial uses and room for additional development.

Where is this mixed-use property located?

The property is located at 185 Grange Rd Otisville, NY.

What is the asking price?

The asking price for this property is $1,499,000.

What are key features of this property?

This property features: Approximately 6,000 sq ft mixed‑use building with 6 units on a 2.9‑acre lot; Pre‑approved 5,500+ sq ft, 4‑unit expansion building with a drive‑through; Fully occupied mix includes an apartment, coffee shop, restaurant, hair salon, adult daycare, and martial arts studio