Multifamily Property with
For Sale
$865,000
244 S Boulevard, Nyack, NY 10960
Multiple residential units with spacious layouts and ample parking near downtown amenities, public transportation, parks, and major highways.
Property Size2,770 SF
Days on Market48
Property Features for 244 S Boulevard
General Information
Standard status
Active
Size
2,770 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$22,853
Building Details
Building Size
2,770 SF
Year Built
1900
Units
4
Listing Agency:
Keller Williams Hudson Valley
(845) 587-0822
Listed By:
Pinches N. Turnheim · License #10401382633
(845) 587-0822
Source:
Alexandermadisonhomes
Added: Jul 15
Changed: Aug 31
Last Checked: Aug 31 at 12:02AM
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 Keller Williams Hudson Valley
Investment Insights
Based on property information with market context.
Built in 1900, this multifamily property at 244 S Boulevard includes multiple residential units with spacious layouts and ample parking. The configuration supports residential income use, with the source information also identifying potential for an owner-occupant to reside in one unit while renting the others.
The property is located in Nyack, near downtown shops, restaurants, public transportation, parks, and major highways. Its address places the asset within a broader residential and commercial setting that connects residents with nearby services and transportation options.
The property is located in Nyack, near downtown shops, restaurants, public transportation, parks, and major highways. Its address places the asset within a broader residential and commercial setting that connects residents with nearby services and transportation options.
Key Highlights
- Multiple residential units
- Spacious residential layouts
- Ample parking
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
$45,395
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
5.25%
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%
$907,900
$907.9K
Cap Rate 7%
$648,500
$648.5K
Cap Rate 9%
$504,389
$504.4K
Market Conditions
NOI Build-Up for 2,770 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
$88.1K $31.80/SF
− Vacancy
−$5.5K −$2.00/SF
EGI
$82.5K $29.80/SF
− OpEx
−$37.1K −$13.41/SF
NOI
$45.4K $16.39/SF
Area
Rockland County, NY
Vacancy
6.30%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$907,900
Cap Rate 7%
$648,500
Cap Rate 9%
$504,389
Alternative Uses
Best Use
Apartment 5plus
$648.5K
$567.4K – $756.6K
NOI $45,395 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.83M
$1.60M – $2.14M
NOI $128,203 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 10960, NY
14,680
Population
6,680
Households
2.2
Avg Household Size
44
Median Age
63%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
3,123
Density / Sq Mi
$126,404
Median Household Income
$69,067
Median Earnings
$2,148
Median Rent
$662,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple residential units with spacious layouts and ample parking near downtown amenities, public transportation, parks, and major highways.
Where is this multifamily property located?
The property is located at 244 S Boulevard Nyack, NY.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Multiple residential units; Spacious residential layouts; Ample parking
