Building Details

Building Size 1,150 SF

Year Built 1965

Listing Agency: Wright Bros Real Estate, Inc. l***@gmail.com Show Phone

Listed By: Mary C Lovera Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 8 Last Checked: Aug 21 at 12:21PM

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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 Wright Bros Real Estate, Inc.

Investment Insights

Based on property information with market context.

An apartment building is available for sale in Spring Valley, New York. The list price is $215,000.

Key Highlights

• Year Built: 1965
• Price: $11

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

$18,846

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

8.77%

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%

$376,920 $376.9K

Cap Rate 7%

$269,229 $269.2K

Cap Rate 9%

$209,400 $209.4K

Market Conditions

NOI Build-Up for 1,150 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

$36.6K $31.80/SF

− Vacancy

−$2.3K −$2.00/SF

EGI

$34.3K $29.80/SF

− OpEx

−$15.4K −$13.41/SF

NOI

$18.8K $16.39/SF

Area

Rockland County, NY

Vacancy

6.30%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

45.00%

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%

$376,920

Cap Rate 7%

$269,229

Cap Rate 9%

$209,400

Alternative Uses

Best Use

Apartment 5plus

$269.2K

$235.6K – $314.1K (±1% cap)

NOI $18,846 @ 7.0% cap · market cap 8.77%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$760.4K

$665.3K – $887.1K (±1% cap)

NOI $53,225 @ 7.0% cap · market cap 24.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Apartment buildings

Location Intelligence

Trade Area within ½ mile

1,279

Businesses Nearby

Explore this area Business Placement

Demographics for 10977, NY

71,049

Population

17,339

Households

4.1

Avg Household Size

24

Median Age

23%

College-Educated

77%

High-School Grad

11.3 sq mi

ZIP Area

6,288

Density / Sq Mi

$77,724

Median Household Income

$33,129

Median Earnings

$1,711

Median Rent

$602,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Apartment building for sale in Spring Valley, NY.

Where is this apartment building located?

The property is located at 30 S Cole Ave 6 F Chestnut Ridge, NY.

What is the asking price?

The asking price for this property is $215,000.

What are key features of this property?

This property features: Year Built: 1965; Price: $11