Concrete Office Building with
For Sale
$845,000
33 CHURCH RD, Airmont, NY 10952
Central air, high ceilings, and a level lot support a practical office setting.
Property Size1,726 SF
Price / SF$489.57
Days on Market265
Property Features for 33 CHURCH RD
General Information
Standard status
Active
Size
1,726 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$14,352
Amenities
Central Air
3
Building Details
Year Built
1970
Construction
concrete
Listing Agency:
(845) 517-8681
Listed By:
Keller Williams Hudson Valley
(845) 517-8681
Source:
Xome
Added: Nov 15, 2025
Changed: Aug 2
Last Checked: Aug 6 at 4:24AM
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 1,726-square-foot office building was constructed in 1970 with concrete construction, spacious rooms, and high ceilings. Central air serves the interior, while the level lot provides on-site parking and additional room for parking expansion.
Located at 33 Church Rd in Airmont, the property sits around the corner from Route 59, with access to the NYS Thruway and NJ Route 17. The combination of an established office structure, usable site area, and regional route connectivity supports owner-user occupancy or other office-oriented operations.
Located at 33 Church Rd in Airmont, the property sits around the corner from Route 59, with access to the NYS Thruway and NJ Route 17. The combination of an established office structure, usable site area, and regional route connectivity supports owner-user occupancy or other office-oriented operations.
Key Highlights
- 1,726 SF concrete office building constructed in 1970
- Spacious interior rooms with high ceilings
- Central Air
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
$49,223
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
5.83%
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%
$984,460
$984.5K
Cap Rate 7%
$703,186
$703.2K
Cap Rate 9%
$546,922
$546.9K
Market Conditions
NOI Build-Up for 1,726 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
$77.7K $45.00/SF
− Vacancy
−$12.0K −$6.98/SF
EGI
$65.6K $38.03/SF
− OpEx
−$16.4K −$9.51/SF
NOI
$49.2K $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%
$984,460
Cap Rate 7%
$703,186
Cap Rate 9%
$546,922
Alternative Uses
Best Use
Office B
$703.2K
$615.3K – $820.4K
NOI $49,223 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.14M
$998.6K – $1.33M
NOI $79,884 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 10952, NY
47,426
Population
11,743
Households
4
Avg Household Size
19
Median Age
26%
College-Educated
85%
High-School Grad
8.9 sq mi
ZIP Area
5,329
Density / Sq Mi
$70,696
Median Household Income
$35,340
Median Earnings
$1,715
Median Rent
$786,300
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?
Office building - Central air, high ceilings, and a level lot support a practical office setting.
Where is this office building located?
The property is located at 33 CHURCH RD Airmont, NY.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 1,726 SF concrete office building constructed in 1970; Spacious interior rooms with high ceilings; Central Air
