Religious Facility with Income
New
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 Market2
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
classrooms
lunchroom
mikvah
matzah bakery
kosher 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 #B.1003079.CORP
(404) 388-9441
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 11:06PM
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 religious facility at 21 Rita Avenue includes two usable floors and a basement on a 0.23-acre parcel. The building contains a main shul, women's section, rabbi's shtiebel, classrooms, lunchroom, bathrooms, coffee room, mikvah, matzah bakery, kosher kiosk, and other communal spaces. Each complete floor contains approximately 2,500 square feet. The second floor is finished office space that provides rental revenue, while construction has begun on a third floor with exterior walls in place and remaining roof and interior work to complete. Baseboard heating and central air are installed, and the property was built in 2025.
Zoned R-2, the property is identified for yeshiva, school, commercial, religious, and educational uses. Residential zoning also permits sleeping accommodations. The site offers an approximately 45' * 100' buildable floor plate, with a potential three floors plus a full basement totaling approximately 18,000 square feet. Public sewer serves the property, which is located in Monsey, NY.
Zoned R-2, the property is identified for yeshiva, school, commercial, religious, and educational uses. Residential zoning also permits sleeping accommodations. The site offers an approximately 45' * 100' buildable floor plate, with a potential three floors plus a full basement totaling approximately 18,000 square feet. Public sewer serves the property, which is located in Monsey, NY.
Key Highlights
- Religious facility with main shul, women's section, classrooms, mikvah, lunchroom, bakery, and kosher kiosk
- Finished second‑floor offices provide rental revenue
- Each complete floor contains approximately 2,500 square feet
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
Lease Details
Multi-tenant
Tenancy
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?
Church & religious facility - Brick institutional building with classrooms, worship areas, a mikvah, and finished office space.
Where is this church & religious facility 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: Religious facility with main shul, women's section, classrooms, mikvah, lunchroom, bakery, and kosher kiosk; Finished second‑floor offices provide rental revenue; Each complete floor contains approximately 2,500 square feet
