Neighborhood Shopping Center Built in
For Sale
$1,600,000
32 W Main Street, Washingtonville, NY 10992
6,000 SF shopping center with strong tenant mix.
Property Size6,600 SF
Lot Size0.61 Acres
Price / SF$242.42
Days on Market270
Property Features for 32 W Main Street
General Information
Standard status
Active
Size
6,600 SF
Lot size
0.61 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$28,370
Amenities
Central air
Central Air Cooling
Natural Gas Heating
Parking Lot
Paved
Building Details
Year Built
2022
Listing Agency:
CURASI REALTY, INC.
(845) 457-9174
Listed By:
JEFFREY LYONS · License #10401274491
Source:
Corcoran
Added: Nov 25, 2025
Changed: Aug 22
Last Checked: Aug 22 at 8:41AM
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 CURASI REALTY, INC.
Investment Insights
Based on property information with market context.
This 6,000 square foot neighborhood shopping center, constructed in 2022, is located in the heart of the village. The property benefits from a visible location on a main road with consistent traffic. The main building consists of three 1,800 square foot units, currently occupied by a bagel shop, a pharmacy, and a micro-event venue, all of which are leased. A stand-alone 600 square foot building behind the main center is occupied by a baker, also under lease. The property provides 30 to 40 on-site parking spaces, with additional parking available across the street in the municipal lot. The center is equipped with commercial water and commercial sewer. The pharmacist is also the end-user for the shopping center. Zoned Neighborhood Shopping Center, this property is suitable for an investor seeking stable income or an end-user looking for a turnkey commercial asset in a thriving village location.
Key Highlights
- Built in 2022: Modern construction and impeccably maintained.
- Strong Tenant Mix: Leases in place with a bagel shop, pharmacy, micro‑event venue, and baker.
- Exceptional Visibility: Located on a main road with steady traffic.
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
$80,333
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
5.02%
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%
$1,606,660
$1.6M
Cap Rate 7%
$1,147,614
$1.1M
Cap Rate 9%
$892,589
$892.6K
Market Conditions
NOI Build-Up for 6,600 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
$118.8K $18.00/SF
− Vacancy
−$4.0K −$0.61/SF
EGI
$114.8K $17.39/SF
− OpEx
−$34.4K −$5.22/SF
NOI
$80.3K $12.17/SF
Area
Orange County, NY
Vacancy
3.40%
Lease Rate
$18.00 /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%
$1,606,660
Cap Rate 7%
$1,147,614
Cap Rate 9%
$892,589
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,333 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,474 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10992, NY
9,301
Population
3,559
Households
2.6
Avg Household Size
44
Median Age
30%
College-Educated
91%
High-School Grad
11.3 sq mi
ZIP Area
823
Density / Sq Mi
$113,450
Median Household Income
$51,769
Median Earnings
$1,438
Median Rent
$389,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Brotherhood Plaza — 30 Brotherhood Plaza Dr, Washingtonville, NY 10992
Frequently Asked Questions
What type of property is this?
Shopping center - 6,000 SF shopping center with strong tenant mix.
Where is this shopping center located?
The property is located at 32 W Main Street Washingtonville, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Built in 2022: Modern construction and impeccably maintained.; Strong Tenant Mix: Leases in place with a bagel shop, pharmacy, micro‑event venue, and baker.; Exceptional Visibility: Located on a main road with steady traffic.
