Multi-Level Mixed-Use
For Sale
$1,900,000
28 HENRY ST, Orangeburg, NY 10940
Versatile commercial building combining a restaurant tenancy with production, storage, and service areas across multiple levels.
Property Size15,894 SF
Price / SF$119.54
Days on Market19
Property Features for 28 HENRY ST
General Information
Standard status
Active
Size
15,894 SF
Property subtype
Mixed Use
Zoning
DMU
Taxes and HOA fees
Annual Taxes
$1,599
Amenities
Central Air
3
Parking.
Lot.
Listing Agency:
Keller Williams Realty
(845) 629-5854
Listed By:
Peter Berman · License #10401392566
(845) 629-5854
Source:
Xome
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 30 at 4:43AM
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 Realty
Investment Insights
Based on property information with market context.
This 15,894-square-foot mixed-use building spans multiple levels and combines an operating ground-floor restaurant tenant with substantial commercial support space. The main level includes an industrial production area, while the property also provides a full basement and a dedicated lift connecting the building’s levels. Central air conditioning is included.
The building is positioned next to a municipal parking lot, supporting convenient parking and loading access. Its configuration accommodates the existing restaurant use alongside production, storage, warehousing, or light distribution functions described for the property. The upper floors provide additional interior area within the overall structure, creating flexibility for future occupancy or reconfiguration subject to applicable approvals.
The building is positioned next to a municipal parking lot, supporting convenient parking and loading access. Its configuration accommodates the existing restaurant use alongside production, storage, warehousing, or light distribution functions described for the property. The upper floors provide additional interior area within the overall structure, creating flexibility for future occupancy or reconfiguration subject to applicable approvals.
Key Highlights
- 15,894‑square‑foot mixed‑use building with multiple levels
- Operating ground‑floor restaurant tenant
- Main‑level industrial production area
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
$130,082
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
6.85%
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%
$2,601,640
$2.6M
Cap Rate 7%
$1,858,314
$1.9M
Cap Rate 9%
$1,445,356
$1.4M
Market Conditions
NOI Build-Up for 15,894 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
$238.4K $15.00/SF
− Vacancy
−$30.3K −$1.91/SF
EGI
$208.1K $13.10/SF
− OpEx
−$78.0K −$4.91/SF
NOI
$130.1K $8.18/SF
Area
Rockland County, NY
Vacancy
12.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,601,640
Cap Rate 7%
$1,858,314
Cap Rate 9%
$1,445,356
Alternative Uses
Best Use
Specialty Retail
$10.51M
$9.20M – $12.26M
NOI $735,614 @ 7.0% cap · market cap 38.72%
Second Best
Flex RnD
$3.60M
$3.15M – $4.20M
NOI $252,285 @ 7.0% cap · market cap 13.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 10940, NY
52,803
Population
19,930
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
63.1 sq mi
ZIP Area
837
Density / Sq Mi
$87,198
Median Household Income
$46,435
Median Earnings
$1,600
Median Rent
$301,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial building combining a restaurant tenancy with production, storage, and service areas across multiple levels.
Where is this mixed-use property located?
The property is located at 28 HENRY ST Orangeburg, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 15,894‑square‑foot mixed‑use building with multiple levels; Operating ground‑floor restaurant tenant; Main‑level industrial production area
