Building Details

Building Size 13,541 SF

Listing Agency: Howard Hanna Rand Realty

Listed By: Mark J Tierney Show Phone

Source: Elliman

Added: Sep 12 Changed: Oct 25 Last Checked: Oct 28 at 9:15AM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This mixed-use property at 265 Main St combines vacant, furnished institutional space with occupied residential units. The primary front area was used recently as a Montessori school and is licensed and approved for that purpose. A separate detached building contains a furnished day care area, while another detached structure provides storage garage space.

The compound encompasses over 13,000 square feet and includes three fully occupied apartments. Each apartment pays its own utilities. A substantial private parking area serves the property, which is located in Cornwall, New York.

The combination of school, day care, storage, residential, and parking improvements creates a varied property configuration within one compound.

Key Highlights

• Over 13,000 square feet across a mixed‑use compound
• Three fully occupied residential apartments with separate utilities
• Licensed and approved Montessori school space, furnished and vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$117,908

Cap Rate

8.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,358,160 $2.4M

Cap Rate 7%

$1,684,400 $1.7M

Cap Rate 9%

$1,310,089 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,541 SF

Gross rent

$219.4K $16.20/SF

− Vacancy

−$30.7K −$2.27/SF

EGI

$188.7K $13.93/SF

− OpEx

−$70.7K −$5.22/SF

NOI

$117.9K $8.71/SF

Area

Orange County, NY

Vacancy

14.00%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,358,160

Cap Rate 7%

$1,684,400

Cap Rate 9%

$1,310,089

Alternative Uses

Best Use

Apartment 5plus

$3.62M

$3.17M – $4.22M (±1% cap)

NOI $253,291 @ 7.0% cap · market cap 17.47%

Second Best

Mixed Use

$1.68M

$1.47M – $1.97M (±1% cap)

NOI $117,908 @ 7.0% cap · market cap 8.13%

Theoretical Best

Office A

$4.59M

$4.01M – $5.35M (±1% cap)

NOI $321,032 @ 7.0% cap · market cap 22.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Children's House Montessori High School

Suggested Use

Top Pick Dental Office Big Box & Wholesale Store Auto Parts Store HVAC Service Bakery Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

434

Businesses Nearby

Explore this area Business Placement

Demographics for 12518, NY

5,622

Population

2,474

Households

2.3

Avg Household Size

43

Median Age

54%

College-Educated

96%

High-School Grad

8.0 sq mi

ZIP Area

703

Density / Sq Mi

$99,833

Median Household Income

$60,096

Median Earnings

$1,720

Median Rent

$358,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Furnished school and day care areas accompany three occupied apartments and a detached storage garage.

Where is this mixed-use property located?

The property is located at 265 Main St Cornwall, NY.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: Over 13,000 square feet across a mixed‑use compound; Three fully occupied residential apartments with separate utilities; Licensed and approved Montessori school space, furnished and vacant