Nyack Multifamily Investment
For Sale
$930,000
Pending
36 Prospect St, Nyack, NY 10960
Fully occupied 3-family property in desirable Nyack location.
Property Size2,868 SF
Lot Size0.12 Acres
Days on Market164
Property Features for 36 Prospect St
General Information
Standard status
Pending
Size
2,868 SF
Lot size
0.12 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$16,112
Building Details
Building Size
2,868 SF
Year Built
1923
Units
3
Listing Agency:
Keller Williams Hudson Valley Realty & United
(845) 709-2324
Listed By:
Kevin F Novotny
(845) 709-2324
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 21 at 11:54AM
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 Realty & United
Investment Insights
Based on property information with market context.
This fully occupied 3-family property is located in Nyack and offers a versatile mix of rental options. The building features two 1-bedroom units and one spacious 3-bedroom unit. The location provides walkability to downtown Nyack with its shops, dining, and nightlife, as well as easy access to the Hudson River waterfront. It is conveniently located near major highways and public transportation, offering a quick commute to NYC. This property presents long-term value and consistent income potential in one of Rockland County’s sought-after rental markets.
Key Highlights
- Fully occupied 3‑family property providing immediate rental income.
- Highly desirable location in Nyack, offering strong rental demand.
- Walkable to downtown Nyack's shops, dining, and nightlife.
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
$50,682
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
5.45%
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%
$1,013,640
$1.0M
Cap Rate 7%
$724,029
$724.0K
Cap Rate 9%
$563,133
$563.1K
Market Conditions
NOI Build-Up for 2,868 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
$77.4K $27.00/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$72.4K $25.25/SF
− OpEx
−$21.7K −$7.57/SF
NOI
$50.7K $17.67/SF
Area
Rockland County, NY
Vacancy
6.50%
Lease Rate
$27.00 /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%
$1,013,640
Cap Rate 7%
$724,029
Cap Rate 9%
$563,133
Alternative Uses
Best Use
Multifamily LT 5
$724.0K
$633.5K – $844.7K
NOI $50,682 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$671.4K
$587.5K – $783.4K
NOI $47,001 @ 7.0% cap · market cap 5.05%
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.21M
NOI $132,738 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 10960, NY
14,680
Population
6,680
Households
2.2
Avg Household Size
44
Median Age
63%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
3,123
Density / Sq Mi
$126,404
Median Household Income
$69,067
Median Earnings
$2,148
Median Rent
$662,600
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?
Triplex - Fully occupied 3-family property in desirable Nyack location.
Where is this triplex located?
The property is located at 36 Prospect St Nyack, NY.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Fully occupied 3‑family property providing immediate rental income.; Highly desirable location in Nyack, offering strong rental demand.; Walkable to downtown Nyack's shops, dining, and nightlife.
