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    Second-Floor Office Suite Title is generated by Realmo AI

    231 S Plank, Newburgh, NY 12550

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    For Lease
    $950/Mo $16 SF/Yr (calc)

    Commercial Lease - Newburgh, NY

    Property size:
    700 SF
    Added:
    Mar 30, 2026
    Days on Market:
    67
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 231 S Plank

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Garage
    Standard status
    Active

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Flooring type
    Carpet, Laminate
    Building materials
    Brick, Wood Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Jodi Gillespie
    Jodi Gillespie

    Listing agent Jodi Gillespie

    Listing office GILLESPIE REAL ESTATE LLC 167 NORTH PLANK RD, NEWBURGH, NY

    Listing date Mar 30, 2026

    MLS# 11801217 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Second‑floor office suite available, approx 700 sqft in a professional building
    • 3 private rooms plus a shared common bathroom (shared with 2 other tenants)
    • Interior stair access from a first‑floor common area; 2 rooms feature common hallway doors
    • Parking lot at both the front and rear of the property; garage parking included
    • Lease terms: $950/month with most utilities included; internet/phone not included; one‑year lease required
    • Available now; building also occupied by an insurance company, hair salon, plumber, and billing office

    Overview

    A second-floor office suite is available in a professional building. The space is accessed by an interior stair from a first-floor common area. Inside, the suite includes three private rooms and a shared common bathroom, which is shared with two other tenants. Two of the rooms connect to the common hallway via doors.

    The property is located on a busy road near a mix of nearby services including restaurants, mailing services, and gas stations. The building also sits close to Interstate 84 and the NYS Thruway, with parking available in both the front and rear of the property.

    This suite is suited for professional use and can work well for tenants who need multiple offices within a managed, multi-tenant setting. The building is shared with an insurance company, hair salon, plumber, and billing office. Most utilities are included in the rent, while internet/phone are not included. The lease requires a one-year term, and the tenant is responsible for painting if they choose to do so.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ralph Depew Plumbing ... Plumbing Service Jim Manley Jr ... Insurance Agency Flawless Aesthetic's Spa & Massage Center Krafft Law Firm Law Firm Burden-Proof Pvt Investigation Law Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newburgh
    County
    Orange
    State
    New York
    Longitude
    -74.073678
    Latitude
    41.529604

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    FAQs

    What type of property is this?
    Office units - Second-floor professional office suite with three private rooms and shared restroom, with interior stair access.
    Where is this office units located?
    The property is located at 231 S Plank Newburgh, NY.
    What is the lease rate?
    The lease rate is $950 /Mo.
    What are key features of this property?
    This property features: Second‑floor office suite available, approx 700 sqft in a professional building; 3 private rooms plus a shared common bathroom (shared with 2 other tenants); Interior stair access from a first‑floor common area; 2 rooms feature common hallway doors
    (845) 565-7073
    We can help!
    Listing Contact
    Jodi Gillespie
    Jodi Gillespie
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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