Listing Agency: T Square Properties, Inc. Show Phone

Listed By: ​Jay Hitt Show Phone

Source: Moodyscre

Added: Feb 15, 2024 Changed: Sep 3 Last Checked: Sep 9 at 9:31AM

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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 T Square Properties, Inc.

Investment Insights

Based on property information with market context.

This property features 2,000 square feet of flex space. The property offers room for expansion in the rear.

Key Highlights

• 2,000 square feet of space
• Room for expansion in the rear

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

$30,202

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

5.16%

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%

$604,040 $604.0K

Cap Rate 7%

$431,457 $431.5K

Cap Rate 9%

$335,578 $335.6K

Market Conditions

NOI Build-Up for 2,000 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

$52.8K $26.40/SF

− Vacancy

−$6.3K −$3.17/SF

EGI

$46.5K $23.23/SF

− OpEx

−$16.3K −$8.13/SF

NOI

$30.2K $15.10/SF

Area

Westchester County, NY

Vacancy

12.00%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

35.00%

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%

$604,040

Cap Rate 7%

$431,457

Cap Rate 9%

$335,578

Alternative Uses

Best Use

Flex RnD

$431.5K

$377.5K – $503.4K (±1% cap)

NOI $30,202 @ 7.0% cap · market cap 5.16%

Second Best

Industrial

$405.6K

$354.9K – $473.3K (±1% cap)

NOI $28,395 @ 7.0% cap · market cap 4.85%

Theoretical Best

Retail

$604.1K

$528.6K – $704.8K (±1% cap)

NOI $42,289 @ 7.0% cap · market cap 7.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Dave Goldberg Plumbing ... HVAC Service Disaster Restoration Inc Construction Company

Suggested Use

Top Pick Law Firm Building Supply Big Box & Wholesale Store HVAC Service Parking Lot & Garage Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

459

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Flex space - 2,000 SF flex space with expansion potential.

Where is this flex space located?

The property is located at 390 E Main St Jefferson Valley, NY.

What is the asking price?

The asking price for this property is $585,000.

What are key features of this property?

This property features: 2,000 square feet of space; Room for expansion in the rear