Turnkey Renovated Office
For Sale
Contact for pricing
313 Fullerton Avenue, Newburgh, NY 12550
Six-suite, fully renovated professional office building with private parking, elevator access, and separately metered utilities for tenant control.
Property Size3,000 SF
Price / SF$239.67
Days on Market59
Property Features for 313 Fullerton Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Zoning
CD
Additional Details
Business Included
Yes
Office Units
6
Building Details
Units
6
Tenancy
Multi
Listing Agency:
Hudson Valley Home Connection
(914) 213-4259
Listed By:
Melissa Forsyth · License #NY
Source:
Crexi
Added: Jun 19
Changed: Aug 10
Last Checked: Aug 13 at 3:41PM
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 Hudson Valley Home Connection
Investment Insights
Based on property information with market context.
This completely renovated professional office building offers a modern, turnkey setup with six individual office suites totaling over 3,000 square feet. The property features an oversized professional lobby and common areas, full handicapped accessibility, and a fully renovated elevator providing elevator access to all levels. Improvements called out in the renovation include replacement or upgrades to windows, doors, flooring, bathrooms, electrical systems, heating and cooling systems, and the building’s common areas. Each suite is individually metered with separate electric service and independent heating and cooling systems, giving tenants control of their own utility usage while helping limit owner expenses. The building is described as low-maintenance, with minimal deferred maintenance concerns.
Located in the City of Newburgh at 313 Fullerton Avenue, the property sits among established medical offices, healthcare providers, and professional businesses. The offering also includes private off-street parking, supporting day-to-day access for employees and visitors.
From a tenant perspective, the building’s suite-by-suite utility separation and independent HVAC systems can simplify operations for professional uses such as medical, wellness, counseling, legal, accounting, insurance, executive office, and other professional services. For an owner-user, the flexible floor plan described in the offering supports occupying a portion of the building while generating income from the remaining suites. The seller also provides projected gross rental income exceeding $84,000 annually when fully leased.
Located in the City of Newburgh at 313 Fullerton Avenue, the property sits among established medical offices, healthcare providers, and professional businesses. The offering also includes private off-street parking, supporting day-to-day access for employees and visitors.
From a tenant perspective, the building’s suite-by-suite utility separation and independent HVAC systems can simplify operations for professional uses such as medical, wellness, counseling, legal, accounting, insurance, executive office, and other professional services. For an owner-user, the flexible floor plan described in the offering supports occupying a portion of the building while generating income from the remaining suites. The seller also provides projected gross rental income exceeding $84,000 annually when fully leased.
Key Highlights
- Fully renovated professional office building with over 3,000 SF and six individual office suites
- Projected gross rental income exceeding $84,000 annually (over $7,000/month when fully leased)
- Separate electric meters for each unit with independent heating and cooling systems
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
$50,198
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
6.98%
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%
$1,003,960
$1.0M
Cap Rate 7%
$717,114
$717.1K
Cap Rate 9%
$557,756
$557.8K
Market Conditions
NOI Build-Up for 3,000 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
$80.6K $26.88/SF
− Vacancy
−$13.7K −$4.57/SF
EGI
$66.9K $22.31/SF
− OpEx
−$16.7K −$5.58/SF
NOI
$50.2K $16.73/SF
Area
Orange County, NY
Vacancy
17.00%
Lease Rate
$26.88 /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%
$1,003,960
Cap Rate 7%
$717,114
Cap Rate 9%
$557,756
Alternative Uses
Best Use
Office B
$717.1K
$627.5K – $836.6K
NOI $50,198 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.1K – $1.19M
NOI $71,124 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Explore this area
Business Placement
Demographics for 12550, NY
55,869
Population
22,204
Households
2.5
Avg Household Size
37
Median Age
26%
College-Educated
86%
High-School Grad
34.7 sq mi
ZIP Area
1,610
Density / Sq Mi
$78,019
Median Household Income
$40,762
Median Earnings
$1,466
Median Rent
$297,400
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?
Office units - Six-suite, fully renovated professional office building with private parking, elevator access, and separately metered utilities for tenant control.
Where is this office units located?
The property is located at 313 Fullerton Avenue Newburgh, NY.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Fully renovated professional office building with over 3,000 SF and six individual office suites; Projected gross rental income exceeding $84,000 annually (over $7,000/month when fully leased); Separate electric meters for each unit with independent heating and cooling systems
