Mixed-Use Retail and Office
For Sale
$849,900
3 Grandview Avenue, Nanuet, NY 10954
Well-maintained building with retail suite, salon space, residential apartment, and parking for about seven cars.
Property Size2,004 SF
Days on Market128
Property Features for 3 Grandview Avenue
General Information
Standard status
Active
Size
2,004 SF
Total Parking Spaces
7
Property subtype
Commercial
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:
Cohenandcohenrealty
Added: Apr 18
Changed: Aug 23
Last Checked: Aug 22 at 1:16PM
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 mixed-use building in Nanuet includes an established retail space (Merle Norman Cosmetics) and a small salon area within the Merle Norman business, along with a residential apartment and a recently refinished room used as an extra room/storage area. The cosmetic studio includes a powder room, and there are two additional full bathrooms. The current use has been non-conforming mixed use for over 40 years.
The property is located just off Route 59, across from the South/East entrance to the NYS Thruway, within the commercial hub of Rockland County. A driveway and front lot accommodate parking for approximately seven cars. The building has been maintained over the years, with updates including a new roof (2023, approximate), a new hot water heater (2025, approximate), and a freshly painted interior (2020, approximate).
The property is located just off Route 59, across from the South/East entrance to the NYS Thruway, within the commercial hub of Rockland County. A driveway and front lot accommodate parking for approximately seven cars. The building has been maintained over the years, with updates including a new roof (2023, approximate), a new hot water heater (2025, approximate), and a freshly painted interior (2020, approximate).
Key Highlights
- Well‑maintained mixed‑use building just off Route 59, across from the South/East entrance to the NYS Thruway
- Occupancy includes established retail space (Merle Norman Cosmetics), a small salon area, and a residential apartment
- Includes additional recently refinished room for extra storage, plus powder room in the cosmetic studio and two additional full bathrooms
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
$57,152
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
6.72%
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%
$1,143,040
$1.1M
Cap Rate 7%
$816,457
$816.5K
Cap Rate 9%
$635,022
$635.0K
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
$90.2K $45.00/SF
− Vacancy
−$14.0K −$6.98/SF
EGI
$76.2K $38.03/SF
− OpEx
−$19.1K −$9.51/SF
NOI
$57.2K $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%
$1,143,040
Cap Rate 7%
$816,457
Cap Rate 9%
$635,022
Alternative Uses
Best Use
Office B
$816.5K
$714.4K – $952.5K
NOI $57,152 @ 7.0% cap · market cap 6.72%
Second Best
Retail
$403.2K
$352.8K – $470.4K
NOI $28,222 @ 7.0% cap · market cap 3.32%
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
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Well-maintained building with retail suite, salon space, residential apartment, and parking for about seven cars.
Where is this storefront 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: Well‑maintained mixed‑use building just off Route 59, across from the South/East entrance to the NYS Thruway; Occupancy includes established retail space (Merle Norman Cosmetics), a small salon area, and a residential apartment; Includes additional recently refinished room for extra storage, plus powder room in the cosmetic studio and two additional full bathrooms
