Historic Tudor Revival Office
For Sale
$6,500,000
20 Nazareth Way, Garrison, NY 10516
Restored office property with elevator access, extensive original detailing, and landscaped grounds surrounding a distinctive Hudson Highlands setting.
Property Size11,560 SF
Lot Size20.00 Acres
Price / SF$562.28
Days on Market49
Property Features for 20 Nazareth Way
General Information
Standard status
Active
Size
11,560 SF
Total Parking Spaces
50
Elevators
Yes
Lot size
20.00 Acres
Property subtype
Commercial
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$43,281
Amenities
wood-burning fireplace
bay window seating
chef's dream kitchen
covered front porch
slate patio
guest cottage
water tower
state of the art electrical and a/v rooms
Building Details
Year Built
1883
Stories
4
Construction
Tudor Revival
Abandoned
No
Listing Agency:
North Country Sothebys Int Rlt
(347) 465-4457
Listed By:
Paul Leis (paul.leis@northcountrysir.com)
(917) 224-5932
Source:
Harmonyhomesrealtyny
Added: Aug 29
Changed: Oct 9
Last Checked: Oct 14 at 10:29PM
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 North Country Sothebys Int Rlt
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1883, this Tudor Revival office property combines historic character with updates completed over the past decade. The four-floor layout includes interconnected formal rooms, multiple fireplaces, hardwood floors, bay-window seating, leaded glass windows, a chef’s kitchen, half baths, and large bright office areas. A full elevator and front staircase provide access between levels, while lower-floor spaces include storage and utility areas. The building also features a wrap-around porch, covered front porch, slate patio, porte-cochere, and a walkout basement.
The property occupies 20 acres in Garrison, with open fields, wooded areas, rolling terrain, and views across the grounds. Parking includes a 40-space lot, and a two-car garage supports a private guest cottage with its own kitchen and full bathroom. A water tower and updated electrical and A/V rooms are also located on the property. The site is described as minutes from the train and downtown Cold Spring.
The property occupies 20 acres in Garrison, with open fields, wooded areas, rolling terrain, and views across the grounds. Parking includes a 40-space lot, and a two-car garage supports a private guest cottage with its own kitchen and full bathroom. A water tower and updated electrical and A/V rooms are also located on the property. The site is described as minutes from the train and downtown Cold Spring.
Key Highlights
- 1883 Tudor Revival office property restored and modernized over the past decade
- 20‑acre setting with open fields, wooded areas, and rolling terrain
- Four‑floor layout served by a full elevator and front staircase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,212
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,044,240
$4.0M
Cap Rate 7%
$2,888,743
$2.9M
Cap Rate 9%
$2,246,800
$2.2M
Market Conditions
NOI Build-Up for 11,560 SF
Gross rent
$313.5K $27.12/SF
− Vacancy
−$43.9K −$3.80/SF
EGI
$269.6K $23.32/SF
− OpEx
−$67.4K −$5.83/SF
NOI
$202.2K $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 Rate 5%
$4,044,240
Cap Rate 7%
$2,888,743
Cap Rate 9%
$2,246,800
Alternative Uses
Best Use
Office B
$2.89M
$2.53M – $3.37M
NOI $202,212 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.64M
$6.69M – $8.92M
NOI $535,026 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 10516, NY
5,462
Population
2,603
Households
2.1
Avg Household Size
49
Median Age
62%
College-Educated
97%
High-School Grad
31.5 sq mi
ZIP Area
173
Density / Sq Mi
$135,922
Median Household Income
$75,236
Median Earnings
$1,798
Median Rent
$625,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Restored office property with elevator access, extensive original detailing, and landscaped grounds surrounding a distinctive Hudson Highlands setting.
Where is this office building located?
The property is located at 20 Nazareth Way Garrison, NY.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 1883 Tudor Revival office property restored and modernized over the past decade; 20‑acre setting with open fields, wooded areas, and rolling terrain; Four‑floor layout served by a full elevator and front staircase
