Professional Complex For
For Sale
$3,200,000
3348 State Route 208, Camp Bell Hall, NY 10916
Two-building professional complex suitable for owner occupancy or investment.
Property Size24,330 SF
Price / SF$258.98
Days on Market145
Property Features for 3348 State Route 208
General Information
Standard status
Active
Size
24,330 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$34,233
Building Details
Building Size
24,330 SF
Listing Agency:
RAND COMMERCIAL
(845) 744-2095
Listed By:
John J Lavelle · License #10301212320
(845) 744-2095
Source:
Elliman
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 30 at 8:25PM
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 RAND COMMERCIAL
Investment Insights
Based on property information with market context.
This property features a two-building professional complex suitable for owner occupancy or investment. Building 1, a two-story structure with 11,974 square feet, is currently used as both professional office space and a school. The school will be vacating in June 2026 and the space will be available for lease. The second floor of Building 1 contains conference rooms and an employee apartment. Building 2 is fully leased and consists of 12,356 square feet, containing office space, a research lab, and garage space. The property has a walk score of 7, indicating car dependence, and a bike score of 11, indicating it is somewhat bikeable.
Key Highlights
- Two‑building professional complex ideal for owner‑occupancy or investment.
- Building 2 is fully leased, offering immediate income.
- Building 1 features 11,974 sqft, currently configured as office and school space.
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
$206,750
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
6.46%
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%
$4,135,000
$4.1M
Cap Rate 7%
$2,953,571
$3.0M
Cap Rate 9%
$2,297,222
$2.3M
Market Conditions
NOI Build-Up for 12,356 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
$332.1K $26.88/SF
− Vacancy
−$56.5K −$4.57/SF
EGI
$275.7K $22.31/SF
− OpEx
−$68.9K −$5.58/SF
NOI
$206.8K $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%
$4,135,000
Cap Rate 7%
$2,953,571
Cap Rate 9%
$2,297,222
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.45M
NOI $206,750 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.18M
$3.66M – $4.88M
NOI $292,938 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 10916, NY
4,604
Population
1,545
Households
3
Avg Household Size
45
Median Age
45%
College-Educated
97%
High-School Grad
23.5 sq mi
ZIP Area
196
Density / Sq Mi
$115,227
Median Household Income
$54,621
Median Earnings
$1,196
Median Rent
$468,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-building professional complex suitable for owner occupancy or investment.
Where is this office building located?
The property is located at 3348 State Route 208 Camp Bell Hall, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Two‑building professional complex ideal for owner‑occupancy or investment.; Building 2 is fully leased, offering immediate income.; Building 1 features 11,974 sqft, currently configured as office and school space.
