Warehouse with Two Points of
For Sale
$3,249,000
3 Chestnut Street, Suffern, NY 10901
Multi-section warehouse offers varied ceiling heights and approximately 2,500 sq. ft. of office space on the second floor.
Property Size20,503 SF
Days on Market108
Property Features for 3 Chestnut Street
General Information
Standard status
Active
Size
20,503 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$30,417
Amenities
Wall/Window Unit(s)
Other
Building Details
Building Size
20,503 SF
Stories
2
Listing Agency:
Blu Wave Ventures
(347) 260-8224
Listed By:
Joseph Kohn · License #10401377562
(347) 260-8224
Source:
Evrealestate
Added: May 8
Changed: Aug 23
Last Checked: Aug 23 at 8:53AM
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 Blu Wave Ventures
Investment Insights
Based on property information with market context.
This multi-section warehouse property features first-floor ceiling heights of approximately 10 to 15 feet and second-floor ceiling heights ranging from approximately 8.5 to 13 feet. An estimated 2,500 square feet of office space is located on the second floor, with the remainder configured for warehouse use.
The property is situated for convenient regional access, described as close to major highways and minutes from NJ-17 and NY I-87 at the NY/NJ border. Two points of access are noted: Chestnut Street and Wayne Ave.
The building’s layout across multiple sections supports flexible use within the warehouse footprint, with office space already incorporated on the second level.
The property is situated for convenient regional access, described as close to major highways and minutes from NJ-17 and NY I-87 at the NY/NJ border. Two points of access are noted: Chestnut Street and Wayne Ave.
The building’s layout across multiple sections supports flexible use within the warehouse footprint, with office space already incorporated on the second level.
Key Highlights
- 20,000+ sq. ft. multi‑section warehouse with varied ceiling heights
- First‑floor ceiling heights approximate 10–15 ft across different sections
- Second‑floor ceiling heights approximate 8.5–13 ft
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
$156,622
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
4.82%
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%
$3,132,440
$3.1M
Cap Rate 7%
$2,237,457
$2.2M
Cap Rate 9%
$1,740,244
$1.7M
Market Conditions
NOI Build-Up for 20,503 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
$194.4K $9.48/SF
− Vacancy
−$10.1K −$0.49/SF
EGI
$184.3K $8.99/SF
− OpEx
−$27.6K −$1.35/SF
NOI
$156.6K $7.64/SF
Area
Rockland County, NY
Vacancy
5.20%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$3,132,440
Cap Rate 7%
$2,237,457
Cap Rate 9%
$1,740,244
Alternative Uses
Best Use
Warehouse
$2.24M
$1.96M – $2.61M
NOI $156,622 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.56M
$11.86M – $15.82M
NOI $948,930 @ 7.0% cap · market cap 29.21%
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
726
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10901, NY
25,145
Population
9,674
Households
2.6
Avg Household Size
42
Median Age
48%
College-Educated
90%
High-School Grad
23.5 sq mi
ZIP Area
1,070
Density / Sq Mi
$114,651
Median Household Income
$59,561
Median Earnings
$1,746
Median Rent
$490,700
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?
Warehouse - Multi-section warehouse offers varied ceiling heights and approximately 2,500 sq. ft. of office space on the second floor.
Where is this warehouse located?
The property is located at 3 Chestnut Street Suffern, NY.
What is the asking price?
The asking price for this property is $3,249,000.
What are key features of this property?
This property features: 20,000+ sq. ft. multi‑section warehouse with varied ceiling heights; First‑floor ceiling heights approximate 10–15 ft across different sections; Second‑floor ceiling heights approximate 8.5–13 ft
