21 Lower Station Road, Garrison, NY 10524

Building Details

Year Built 1865 More

Tenancy Multi More

Listing Agency: Houlihan Lawrence Inc. t***@houlihanlawrence.com Show Phone

Listed By: Chelsea Carlton · License NY #10401390338 Show Phone

Source: Neilcharlesrealestate

Added: Oct 6 Changed: Nov 9 Last Checked: Nov 9 at 3:42PM

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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 Houlihan Lawrence Inc.

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Investment Insights

Based on property information with market context.

This office is part of a three-office workplace shared with working professionals. The setup includes a kitchenette and shared bathroom, with garden access for breaks. Utilities, WiFi, coffee, and one off-street parking space are included.

The property offers access to Garrison Train Station, Garrison Art Center, and nearby trails. Garrison Landing is a short walk away, with Hudson River views.

Key Highlights

• Three offices share the workplace with working professionals
• Shared kitchenette and bathroom, with garden access
• Utilities, WiFi, coffee, and one off‑street parking space included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$4,311

Suggested Prices Based on Cap Rates

Cap Rate 5%

$86,220 $86.2K

Cap Rate 7%

$61,586 $61.6K

Cap Rate 9%

$47,900 $47.9K

What to ask about pricing

Market Conditions

NOI Build-Up for 153 SF

Gross rent

$7.1K $46.32/SF

− Vacancy

−$1.3K −$8.75/SF

EGI

$5.7K $37.57/SF

− OpEx

−$1.4K −$9.39/SF

NOI

$4.3K $28.17/SF

Area

Putnam County, NY

Vacancy

18.90%

Lease Rate

$46.32 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$86,220

Cap Rate 7%

$61,586

Cap Rate 9%

$47,900

Alternative Uses

Best Use

Office B

$61.6K

$53.9K – $71.9K (±1% cap)

NOI $4,311 @ 7.0% cap

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$101.2K

$88.5K – $118.0K (±1% cap)

NOI $7,081 @ 7.0% cap

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Heather Anne Zuckerman ... Psychotherapist

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Grocery & Convenience Store Auto Repair Shop Kitchen & Bath Showroom Cafe & Coffee Shop Barber Shop

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

77

Businesses Nearby

Explore this area Business Placement

Demographics for 10524, NY

4,447

Population

1,850

Households

2.4

Avg Household Size

48

Median Age

53%

College-Educated

96%

High-School Grad

20.8 sq mi

ZIP Area

214

Density / Sq Mi

$125,568

Median Household Income

$53,500

Median Earnings

$2,313

Median Rent

$549,600

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office unit - Utilities, WiFi, coffee, and one off-street parking space are included.

Where is this office unit located?

The property is located at 21 Lower Station Road Garrison, NY.

What are key features of this property?

This property features: Three offices share the workplace with working professionals; Shared kitchenette and bathroom, with garden access; Utilities, WiFi, coffee, and one off‑street parking space included