Mixed-Use Building with Retail
For Sale
$849,900
3 Grandview Avenue, Nanuet, NY 10954
Non-conforming mixed-use occupancy combines an established cosmetics business, residential apartment, salon area, and additional storage space.
Property Size2,004 SF
Days on Market133
Property Features for 3 Grandview Avenue
General Information
Standard status
Active
Size
2,004 SF
Total Parking Spaces
7
Property subtype
Commercial
Zoning
02
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$16,241
Building Details
Building Size
2,004 SF
Year Built
1950
Buildings
1
Stories
1
Units
3
Listing Agency:
Keller Williams Hudson Valley
(845) 304-4817
Listed By:
Stephanie Ferrante-Hirsch
(845) 304-4817
Source:
Alexandermadisonhomes
Added: Apr 18
Changed: Aug 28
Last Checked: Aug 25 at 9:08AM
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.
This 1950 mixed-use building combines an established Merle Norman Cosmetics retail operation with a small salon component, one residential apartment, and a recently refinished room used for storage or additional utility space. The layout also includes a powder room within the cosmetics area and two full bathrooms serving the property. Current occupancy reflects a non-conforming mixed-use arrangement that has continued for more than 40 years.
Located at 3 Grandview Avenue in Nanuet, the property sits just off Route 59 and across from the southeast entrance to the NYS Thruway. The front lot and driveway provide parking for approximately 7 cars. Building updates include a new roof in 2023, a new hot water heater in 2025, and interior painting completed in 2020; the dates are approximate. Zoning is designated 02.
Located at 3 Grandview Avenue in Nanuet, the property sits just off Route 59 and across from the southeast entrance to the NYS Thruway. The front lot and driveway provide parking for approximately 7 cars. Building updates include a new roof in 2023, a new hot water heater in 2025, and interior painting completed in 2020; the dates are approximate. Zoning is designated 02.
Key Highlights
- Non‑conforming mixed‑use occupancy in place for over 40 years
- Established Merle Norman Cosmetics retail operation with salon area
- Includes 1 residential apartment and a refinished storage room
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
$28,222
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
3.32%
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%
$564,440
$564.4K
Cap Rate 7%
$403,171
$403.2K
Cap Rate 9%
$313,578
$313.6K
Market Conditions
NOI Build-Up for 2,004 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
$42.1K $21.00/SF
− Vacancy
−$1.8K −$0.88/SF
EGI
$40.3K $20.12/SF
− OpEx
−$12.1K −$6.04/SF
NOI
$28.2K $14.08/SF
Area
Rockland County, NY
Vacancy
4.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$564,440
Cap Rate 7%
$403,171
Cap Rate 9%
$313,578
Alternative Uses
Best Use
Retail
$403.2K
$352.8K – $470.4K
NOI $28,222 @ 7.0% cap · market cap 3.32%
Second Best
Mixed Use
$234.3K
$205.0K – $273.4K
NOI $16,401 @ 7.0% cap · market cap 1.93%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.55M
NOI $92,750 @ 7.0% cap · market cap 10.91%
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
1,155
Businesses Nearby
329k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 73%
Shops & Services 13%
Dining 11%
Hotels & Casinos 2%
Costco Wholesale
Superstores
135,456 visits/mo
0.5 miles
Target
Superstores
103,974 visits/mo
0.4 miles
Burger King
Dining
23,311 visits/mo
0.4 miles
Wells Fargo
Shops & Services
18,033 visits/mo
0.4 miles
Exxon
Shops & Services
10,328 visits/mo
0.4 miles
Demographics for 10954, NY
24,248
Population
10,041
Households
2.4
Avg Household Size
44
Median Age
47%
College-Educated
90%
High-School Grad
6.9 sq mi
ZIP Area
3,514
Density / Sq Mi
$112,927
Median Household Income
$55,985
Median Earnings
$2,184
Median Rent
$502,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Non-conforming mixed-use occupancy combines an established cosmetics business, residential apartment, salon area, and additional storage space.
Where is this mixed-use property located?
The property is located at 3 Grandview Avenue Nanuet, NY.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Non‑conforming mixed‑use occupancy in place for over 40 years; Established Merle Norman Cosmetics retail operation with salon area; Includes 1 residential apartment and a refinished storage room
