Mixed-Use Building with Lower-Level
For Sale
$850,000
2314 State Route 32, New Windsor, NY 12553
Commercial and residential areas occupy the first, second, and lower levels within a flexible mixed-use configuration.
Property Size5,288 SF
Days on Market75
Property Features for 2314 State Route 32
General Information
Standard status
Active
Size
5,288 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,435
Building Details
Building Size
5,288 SF
Year Built
1950
Year Renovated
2025
Listing Agency:
E Realty International Corp
(347) 889-1135
Listed By:
Myungok Do Smyth
(347) 889-1135
Source:
Mahlerrealty
Added: Jun 17
Changed: Aug 29
Last Checked: Aug 29 at 9:09AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
Built in 1950, this mixed-use property combines commercial and residential functionality across multiple levels. The first floor is approved for commercial use, while residential space is located on the second floor and lower level. A lower-level kitchen was renovated in 2025, and a major expansion completed in 2024 increased the building area on both the first floor and lower level.
The structure was comprehensively rebuilt circa 1980–1985, providing newer framing and systems than the original construction date suggests. A dedicated parking area accommodates 30 or more vehicles. The property is located at 2314 State Route 32 in New Windsor, NY 12553.
The structure was comprehensively rebuilt circa 1980–1985, providing newer framing and systems than the original construction date suggests. A dedicated parking area accommodates 30 or more vehicles. The property is located at 2314 State Route 32 in New Windsor, NY 12553.
Key Highlights
- Mixed‑use zoning with commercial use approved on the first floor
- Residential space on the second floor and lower level
- 2024 expansion added area to the first floor and lower level
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
$64,363
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
7.57%
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%
$1,287,260
$1.3M
Cap Rate 7%
$919,471
$919.5K
Cap Rate 9%
$715,144
$715.1K
Market Conditions
NOI Build-Up for 5,288 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
$95.2K $18.00/SF
− Vacancy
−$3.2K −$0.61/SF
EGI
$91.9K $17.39/SF
− OpEx
−$27.6K −$5.22/SF
NOI
$64.4K $12.17/SF
Area
Orange County, NY
Vacancy
3.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,287,260
Cap Rate 7%
$919,471
Cap Rate 9%
$715,144
Alternative Uses
Best Use
Retail
$919.5K
$804.5K – $1.07M
NOI $64,363 @ 7.0% cap · market cap 7.57%
Second Best
Mixed Use
$657.8K
$575.6K – $767.4K
NOI $46,045 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,369 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Enterprise Rent-A-Car
Shops & Services
1,238 visits/mo
0.3 miles
Demographics for 12553, NY
26,728
Population
11,150
Households
2.4
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
24.2 sq mi
ZIP Area
1,104
Density / Sq Mi
$94,207
Median Household Income
$50,749
Median Earnings
$1,612
Median Rent
$351,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential areas occupy the first, second, and lower levels within a flexible mixed-use configuration.
Where is this mixed-use property located?
The property is located at 2314 State Route 32 New Windsor, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Mixed‑use zoning with commercial use approved on the first floor; Residential space on the second floor and lower level; 2024 expansion added area to the first floor and lower level
