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    Two-Room Office Suite with Hudson Views Title is generated by Realmo AI

    38 High Avenue, Nyack, NY 10960

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    New
    For Lease
    $2,995 /Mo

    COMMERCIAL - Nyack, NY

    Type:Office
    Lot size:
    0.19 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 7 at 11:06 pm

    Property Features for 38 High Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    R-1
    Parking features
    Open
    Appliances
    Gas Water Heater
    Standard status
    Active
    APN
    392403-066-030-0002-078-000-0000
    Lot size
    0.19 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1940
    Number of units
    1
    Flooring type
    Hardwood
    Building materials
    Brick

    We can help!

    Listing Contact
    Richard W Ellis
    Richard W Ellis

    Listing agent Richard W Ellis License #49EL1057037

    Listing office Ellis Sotheby's Intl Realty 76 N Broadway, Nyack, NY

    Listing date Jun 5, 2026

    MLS# 1009794

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑room office space in a former circa 1920s moving and storage warehouse building with brick construction and exposed brick walls
    • 12 ft ceilings, hardwood/wood floors, and replacement Marvin windows
    • Office #1 is on the 4th floor facing east with spectacular Hudson River views
    • Building amenities for tenants: elevator and rooftop deck overlooking the Hudson
    • Central air and forced‑air natural gas heating; public water and public sewer
    • Immediate occupancy; furnished rental available for an additional fee; tenant pays a portion of utilities

    Overview

    This bright two-room office suite features a wall of French doors and windows, exposed brick walls, 12-foot ceilings, and beautiful wood floors. The space includes replacement Marvin windows and an industrial-style feel consistent with the building’s warehouse character. The suite is available with immediate occupancy, and it can be rented furnished for an additional fee. The tenant pays a portion of utilities.

    The suite is located in Nyack Express, a former circa 1920s moving and storage warehouse building that was gut-renovated about 20+ years ago. The building sits just off North Broadway near Runcible Spoon Bakery and the river. Office #1 faces east and is on the 4th floor, offering spectacular Hudson River views. Building amenities include an elevator and access to a rooftop deck overlooking the Hudson, and tenants can use the chef’s kitchen.

    This configuration suits an office user looking for a distinctive, character-forward workspace with significant natural light and views. The two-room layout can support a range of professional uses while maintaining a more industrial, open feel, and the building’s elevator adds day-to-day convenience. Zoning is listed as R-1.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rothschild & Associates, LLC Law Firm Hornblow Group USA ... Business Management Consultant Saundra Messinger (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nyack
    County
    Rockland
    State
    New York
    Longitude
    -73.9175368
    Latitude
    41.0919665

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    FAQs

    What type of property is this?
    Office units - Bright two-room office on the 4th floor with French doors, wood floors, and Hudson River views.
    Where is this office units located?
    The property is located at 38 High Avenue Nyack, NY.
    What is the lease rate?
    The lease rate is $2,995 /Mo.
    What are key features of this property?
    This property features: Two‑room office space in a former circa 1920s moving and storage warehouse building with brick construction and exposed brick walls; 12 ft ceilings, hardwood/wood floors, and replacement Marvin windows; Office #1 is on the 4th floor facing east with spectacular Hudson River views
    (914) 393-0438
    We can help!
    Listing Contact
    Richard W Ellis
    Richard W Ellis
    Real Estate License ID: 49EL1057037
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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