Multi-Structure Flex
For Sale
Contact for pricing
264 Orange Turnpike, Sloatsburg, NY 10974
Well-maintained flex site with office, workshop, and storage spaces plus on-site parking and MU-1 redevelopment flexibility.
Property Size1,870 SF
Lot Size0.27 Acres
Price / SF$427.75
Days on Market71
Property Features for 264 Orange Turnpike
General Information
Standard status
Active
Size
1,870 SF
Lot size
0.27 Acres
Property subtype
Multifamily, Office
Zoning
MU1
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1930
Listing Agency:
Howard Hanna Rand Realty
(845) 634-4202
Listed By:
Kevin L. Brentnall
Source:
Crexi
Added: Jun 11
Changed: Aug 12
Last Checked: Aug 17 at 2:33PM
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 Howard Hanna Rand Realty
Investment Insights
Based on property information with market context.
264 Orange Turnpike is a well-maintained, multi-structure flex property currently used as an electrician’s office. The site includes functional office, workshop, and storage areas designed to support day-to-day operations, along with on-site parking for staff, clients, or tenants. The property sits on a 0.27-acre lot and totals over 5,700 sq ft combined, providing room to configure the buildings for a variety of commercial needs.
The property is located directly on Orange Turnpike in Sloatsburg and offers convenient access to Route 17, the NYS Thruway, and the Sloatsburg train station. Zoning is identified as MU-1, which provides flexibility for a wide range of commercial uses or a conversion to multifamily residential. The site presently has three separate meters, which may support certain redevelopment or operational setups.
For buyers and tenants, this configuration can fit businesses that need both office and shop/storage space on one campus. It can also appeal to investors or developers evaluating MU-1 mixed-use or multifamily conversion plans, with multiple structures and existing utility separation already in place. Move-in readiness, redevelopment flexibility, and straightforward access make the site practical for operators seeking a single location to run and expand their footprint.
The property is located directly on Orange Turnpike in Sloatsburg and offers convenient access to Route 17, the NYS Thruway, and the Sloatsburg train station. Zoning is identified as MU-1, which provides flexibility for a wide range of commercial uses or a conversion to multifamily residential. The site presently has three separate meters, which may support certain redevelopment or operational setups.
For buyers and tenants, this configuration can fit businesses that need both office and shop/storage space on one campus. It can also appeal to investors or developers evaluating MU-1 mixed-use or multifamily conversion plans, with multiple structures and existing utility separation already in place. Move-in readiness, redevelopment flexibility, and straightforward access make the site practical for operators seeking a single location to run and expand their footprint.
Key Highlights
- 1930‑built, well‑maintained property currently used as an electrician’s office
- MU‑1 zoning allows for a wide range of commercial uses or conversion to multifamily residential (3 separate meters present)
- 0.27‑acre lot with multiple structures and over 5,700 sq ft combined
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
$53,330
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
6.67%
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%
$1,066,600
$1.1M
Cap Rate 7%
$761,857
$761.9K
Cap Rate 9%
$592,556
$592.6K
Market Conditions
NOI Build-Up for 1,870 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
$84.2K $45.00/SF
− Vacancy
−$13.0K −$6.98/SF
EGI
$71.1K $38.03/SF
− OpEx
−$17.8K −$9.51/SF
NOI
$53.3K $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%
$1,066,600
Cap Rate 7%
$761,857
Cap Rate 9%
$592,556
Alternative Uses
Best Use
Office B
$761.9K
$666.6K – $888.8K
NOI $53,330 @ 7.0% cap · market cap 6.67%
Second Best
Flex RnD
$424.0K
$371.0K – $494.7K
NOI $29,683 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,548 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10974, NY
3,395
Population
1,286
Households
2.6
Avg Household Size
41
Median Age
43%
College-Educated
94%
High-School Grad
7.4 sq mi
ZIP Area
459
Density / Sq Mi
$112,404
Median Household Income
$66,622
Median Earnings
$2,491
Median Rent
$429,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained flex site with office, workshop, and storage spaces plus on-site parking and MU-1 redevelopment flexibility.
Where is this flex space located?
The property is located at 264 Orange Turnpike Sloatsburg, NY.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 1930‑built, well‑maintained property currently used as an electrician’s office; MU‑1 zoning allows for a wide range of commercial uses or conversion to multifamily residential (3 separate meters present); 0.27‑acre lot with multiple structures and over 5,700 sq ft combined
