Versatile Commercial Building on Route
For Sale
$1,299,000
Pending
1995 Route 6, Carmel, NY 10512
High-visibility commercial building suitable for diverse business uses.
Property Size5,758 SF
Days on Market142
Property Features for 1995 Route 6
General Information
Standard status
Pending
Size
5,758 SF
Property subtype
Commercial
Listing Agency:
RE/MAX Ace Realty
(914) 497-1572
Listed By:
Robert T. Washburn · License #10311200367
(914) 497-1572
Source:
Elliman
Added: Apr 12
Changed: Jul 10
Last Checked: Aug 30 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 RE/MAX Ace Realty
Investment Insights
Based on property information with market context.
This well-maintained commercial building offers 5,758 square feet of space and is located at a signalized intersection on Route 6, near the I-684/I-84 interchange. The property features expansive open workspaces, multiple private offices, an oversized conference room, and an executive suite with a full bath. There are five restrooms, including three that are ADA-compliant. The building includes a passenger elevator, an on-site generator, and a secure bank vault. Public water and sewer are connected, and natural gas is available at the street level. The parking lot accommodates over 60 vehicles and provides ADA access for employees and clients. The property is zoned to allow for light industry, veterinary services, fitness centers, retail, restaurants, offices, and service businesses. It is suitable for an owner-user or investor.
Key Highlights
- High‑visibility location at a signalized intersection on Route 6, near the I‑684/I‑84 interchange in a high‑traffic area.
- Versatile zoning allows for a wide range of uses: light industry, veterinary, fitness, retail, restaurant, office, and service.
- Expansive parking lot accommodates 60+ vehicles with seamless ADA access.
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
$100,721
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
7.75%
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%
$2,014,420
$2.0M
Cap Rate 7%
$1,438,871
$1.4M
Cap Rate 9%
$1,119,122
$1.1M
Market Conditions
NOI Build-Up for 5,758 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
$156.2K $27.12/SF
− Vacancy
−$21.9K −$3.80/SF
EGI
$134.3K $23.32/SF
− OpEx
−$33.6K −$5.83/SF
NOI
$100.7K $17.49/SF
Area
Putnam County, NY
Vacancy
14.00%
Lease Rate
$27.12 /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%
$2,014,420
Cap Rate 7%
$1,438,871
Cap Rate 9%
$1,119,122
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,721 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.81M
$3.33M – $4.44M
NOI $266,495 @ 7.0% cap · market cap 20.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 10512, NY
24,664
Population
9,874
Households
2.5
Avg Household Size
46
Median Age
42%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
472
Density / Sq Mi
$124,519
Median Household Income
$62,393
Median Earnings
$1,607
Median Rent
$401,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - High-visibility commercial building suitable for diverse business uses.
Where is this office building located?
The property is located at 1995 Route 6 Carmel, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: High‑visibility location at a signalized intersection on Route 6, near the I‑684/I‑84 interchange in a high‑traffic area.; Versatile zoning allows for a wide range of uses: light industry, veterinary, fitness, retail, restaurant, office, and service.; Expansive parking lot accommodates 60+ vehicles with seamless ADA access.
