Renovated Brick Office
For Sale
$5,000,000
21 Rita Avenue, Monsey, NY 10952
Commercial Sale, Monsey, NY
Property Size5,000 SF
Lot Size0.23 Acres
Price / SF$1,000
Days on Market9
Property Features for 21 Rita Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Property condition
Under Construction
Zoning
R-2
Rooms
Basement
Parking
20
Fencing
Chain Link
Lot features
Back Yard, Front Yard
Elementary school
East Ramapo Early Chld Ctr At Kakiat
Elementary school district
East Ramapo (Spring Valley)
Middle school district
East Ramapo (Spring Valley)
High school district
East Ramapo (Spring Valley)
Standard status
Active
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2351
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Central Air
Water source
Well, Public
Amenities
coffee room
classrooms
lunchroom
bakery
kiosk
Building Details
Year built
2025
Floors in Building
2
Building materials
Brick
Listing Agency:
HomeCoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
(404) 388-9441
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 19 at 5:06AM
MLS# 1049602
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick office property includes two usable floors and a basement, with a main floor, bathrooms, coffee room, classrooms, lunchroom, bakery, and kiosk. The second floor is configured as finished offices with income-producing use. Central air, baseboard heating, public sewer, and public and well water serve the property. Construction is underway on a third floor, where exterior walls are in place and the roof and interior work remain to be completed.
The property is legal for school, commercial, and educational uses. R-2 zoning also permits sleeping accommodations. A buildable area measuring approximately 45 feet by 100 feet may support expansion or redevelopment, including a concept with three floors and a full basement totaling approximately 18,000 square feet. The property is located at 21 Rita Avenue in Monsey, New York, and includes a 0.23-acre lot.
The property is legal for school, commercial, and educational uses. R-2 zoning also permits sleeping accommodations. A buildable area measuring approximately 45 feet by 100 feet may support expansion or redevelopment, including a concept with three floors and a full basement totaling approximately 18,000 square feet. The property is located at 21 Rita Avenue in Monsey, New York, and includes a 0.23-acre lot.
Key Highlights
- Office property on a 0.23‑acre lot at 21 Rita Avenue, Monsey, NY 10952
- Two usable floors with approximately 2,500 square feet per complete floor
- Finished second‑floor offices provide income‑producing space
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
$142,594
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
2.85%
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%
$2,851,880
$2.9M
Cap Rate 7%
$2,037,057
$2.0M
Cap Rate 9%
$1,584,378
$1.6M
Market Conditions
NOI Build-Up for 5,000 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
$225.0K $45.00/SF
− Vacancy
−$34.9K −$6.98/SF
EGI
$190.1K $38.03/SF
− OpEx
−$47.5K −$9.51/SF
NOI
$142.6K $28.52/SF
Area
Rockland County, NY
Vacancy
15.50%
Lease Rate
$45.00 /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%
$2,851,880
Cap Rate 7%
$2,037,057
Cap Rate 9%
$1,584,378
Alternative Uses
Best Use
Office B
$2.04M
$1.78M – $2.38M
NOI $142,594 @ 7.0% cap · market cap 2.85%
Second Best
Mixed Use
$584.6K
$511.5K – $682.0K
NOI $40,922 @ 7.0% cap · market cap 0.82%
Theoretical Best
Specialty Retail
$3.31M
$2.89M – $3.86M
NOI $231,413 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 10952, NY
47,426
Population
11,743
Households
4
Avg Household Size
19
Median Age
26%
College-Educated
85%
High-School Grad
8.9 sq mi
ZIP Area
5,329
Density / Sq Mi
$70,696
Median Household Income
$35,340
Median Earnings
$1,715
Median Rent
$786,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Two usable floors, finished offices, and flexible school, commercial, and educational use under R-2 zoning.
Where is this office building located?
The property is located at 21 Rita Avenue Monsey, NY.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Office property on a 0.23‑acre lot at 21 Rita Avenue, Monsey, NY 10952; Two usable floors with approximately 2,500 square feet per complete floor; Finished second‑floor offices provide income‑producing space
