Mixed-Use Property with
For Sale
$1,250,000
33 Park Avenue, Suffern, NY 10901
Mixed-use property featuring residential apartments and a retail storefront.
Property Size5,802 SF
Days on Market177
Property Features for 33 Park Avenue
General Information
Standard status
Active
Size
5,802 SF
Property subtype
Commercial
Zoning
CB
Taxes and HOA fees
Annual Taxes
$22,839
Building Details
Building Size
5,802 SF
Listing Agency:
Delaney Realty
(845) 357-2141
Listed By:
Patricia A Delaney
Source:
Cohenandcohenrealty
Added: Feb 27
Changed: Aug 23
Last Checked: Aug 22 at 9:50AM
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 Delaney Realty
Investment Insights
Based on property information with market context.
This mixed-use property features five residential apartments and a retail storefront, complemented by a private parking lot located behind the building. The residential apartments are individually metered for gas and electric utilities. The commercial space is metered separately for gas, electric, and water. The building has a relatively new roof. The entire building is described as being in impeccable condition, both inside and out. The property offers expansion potential, benefiting from four-story zoning, while the current building is two stories. This property must be sold in conjunction with 47-55 Lafayette Ave and 20-28 Chestnut St.
Key Highlights
- Five residential apartments plus one retail storefront provide diverse income streams.
- Private parking lot enhances tenant and customer convenience.
- Separate metering for utilities allows for accurate billing.
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
$95,084
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
7.61%
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%
$1,901,680
$1.9M
Cap Rate 7%
$1,358,343
$1.4M
Cap Rate 9%
$1,056,489
$1.1M
Market Conditions
NOI Build-Up for 5,802 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
$184.5K $31.80/SF
− Vacancy
−$11.6K −$2.00/SF
EGI
$172.9K $29.80/SF
− OpEx
−$77.8K −$13.41/SF
NOI
$95.1K $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%
$1,901,680
Cap Rate 7%
$1,358,343
Cap Rate 9%
$1,056,489
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.58M
NOI $95,084 @ 7.0% cap · market cap 7.61%
Second Best
Retail
$1.17M
$1.02M – $1.36M
NOI $81,707 @ 7.0% cap · market cap 6.54%
Theoretical Best
Specialty Retail
$3.84M
$3.36M – $4.48M
NOI $268,531 @ 7.0% cap · market cap 21.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 10901, NY
25,145
Population
9,674
Households
2.6
Avg Household Size
42
Median Age
48%
College-Educated
90%
High-School Grad
23.5 sq mi
ZIP Area
1,070
Density / Sq Mi
$114,651
Median Household Income
$59,561
Median Earnings
$1,746
Median Rent
$490,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring residential apartments and a retail storefront.
Where is this mixed-use property located?
The property is located at 33 Park Avenue Suffern, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five residential apartments plus one retail storefront provide diverse income streams.; Private parking lot enhances tenant and customer convenience.; Separate metering for utilities allows for accurate billing.
