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    Suffern Commercial Opportunity Near Hospital Title is generated by Realmo AI

    233 Route 59, Suffern, NY 10901

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    Claim this Listing
    For Sale
    $899,900

    SINGLE_FAMILY - Suffern, NY

    Type:Office
    Lot size:
    0.34 Acres
    Added:
    Mar 20, 2025
    Days on Market:
    420
    Last Refresh:
    May 13 at 8:06 am

    Property Features for 233 Route 59

    General Information

    Property type
    Residential
    Property subtype
    Office
    Rooms
    Basement
    Parking features
    Driveway
    Basement
    Storage Space, Full, Walk-Out Access
    Appliances
    Refrigerator, Tankless Water Heater
    Standard status
    Active
    APN
    392621.055.012-0001-065.000/0000
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    14253

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Radiant, Natural Gas
    Water source
    Well

    Building Details

    Year built
    1918
    Flooring type
    Hardwood
    Building materials
    Aluminum Siding, Frame

    We can help!

    Listing Contact
    Asher Frankel

    Listing agent Asher Frankel License #10311208555

    Listing office Mark One Real Estate 386 Rt 59, monsey, NY

    Listing date Mar 20, 2025

    MLS# 834720

    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.

    HighLights

    • Prime commercial location on a busy hub, near a hospital and major transportation routes.
    • Existing rental income of $3,000 per month.
    • Updated 4‑bedroom colonial with a new kitchen and appliances.
    • Detached two‑car garage previously used as a workshop.
    • Full walkout basement.
    • Plans for an office building on the site (unapproved).

    Overview

    This property presents a commercial opportunity in a prominent location on a busy commercial hub, situated near Good Samaritan Hospital and close to the New Jersey border and major arteries. The property includes an updated four-bedroom colonial home, currently rented for $3,000 a month. The home features a new kitchen with appliances, a large dining room and living room, and a full walkout basement. Parking is available for multiple cars. The property also includes a level backyard and a detached two-car garage, previously used as a workshop. The owner has plans to construct an office building on the site; however, these plans are not yet approved. The lot size is approximately 0.34 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffern
    County
    Rockland
    State
    New York
    Longitude
    -74.107017
    Latitude
    41.111383

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    FAQs

    What type of property is this?
    Office units - Commercial opportunity near hospital, close to NJ border.
    Where is this office units located?
    The property is located at 233 Route 59 Suffern, NY.
    What is the asking price?
    The asking price for this property is $899,900.
    What are key features of this property?
    This property features: Prime commercial location on a busy hub, near a hospital and major transportation routes.; Existing rental income of $3,000 per month.; Updated 4‑bedroom colonial with a **new kitchen and appliances.**
    (845) 357-4004
    We can help!
    Listing Contact
    Asher Frankel
    Real Estate License ID: 10311208555
    Learn More
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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.

    More about this property
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