Listing Agency: Joncar Realty Inc j***@yahoo.com

Listed By: Kathleen Carey · License #10401365316 Show Phone

Source: Neilcharlesrealestate

Added: Oct 8 Changed: Oct 30 Last Checked: Oct 30 at 2:03AM

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Investment Insights

Based on property information with market context.

The 6,564-square-foot storefront at 40 Main Street features an open floor plan, concrete floors, and high ceilings. Its finish has a modern industrial character, and the property is situated among other local businesses.

Metro-North is within walking distance, and the Hudson River and Fjord walking Trail are nearby. The trail is planned to connect Cold Spring with Beacon. The tenant pays a share of the building’s utilities.

Key Highlights

• 6,564‑square‑foot storefront at 40 Main Street
• Open floor plan with concrete floors and high ceilings
• Within walking distance of Metro‑North

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$106,416

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,128,320 $2.1M

Cap Rate 7%

$1,520,229 $1.5M

Cap Rate 9%

$1,182,400 $1.2M

What to ask about pricing

Market Conditions

NOI Build-Up for 6,564 SF

Gross rent

$157.5K $24.00/SF

− Vacancy

−$5.5K −$0.84/SF

EGI

$152.0K $23.16/SF

− OpEx

−$45.6K −$6.95/SF

NOI

$106.4K $16.21/SF

Area

Putnam County, NY

Vacancy

3.50%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,128,320

Cap Rate 7%

$1,520,229

Cap Rate 9%

$1,182,400

Alternative Uses

Best Use

Retail

$1.52M

$1.33M – $1.77M (±1% cap)

NOI $106,416 @ 7.0% cap · market cap 3,040.46%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.34M

$3.80M – $5.06M (±1% cap)

NOI $303,798 @ 7.0% cap · market cap 8,679.94%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Cold Spring Apothecary ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Parking Lot & Garage Dental Office Auto Repair Shop Electrical Service Plumbing Service (Bike/Boat/Book/etc) Store

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

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

416

Businesses Nearby

14k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 63% Shops & Services 37%

Super Foodtown Groceries

8,563 visits/mo 0.4 miles

Sunoco Shops & Services

3,873 visits/mo 0.3 miles

M&T Bank Shops & Services

1,151 visits/mo 0.5 miles

Demographics for 10516, NY

5,462

Population

2,603

Households

2.1

Avg Household Size

49

Median Age

62%

College-Educated

97%

High-School Grad

31.5 sq mi

ZIP Area

173

Density / Sq Mi

$135,922

Median Household Income

$75,236

Median Earnings

$1,798

Median Rent

$625,400

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar Off Market Nearby

• Now In Bloom — 143 Main St, Cold Spring, NY 10516

Frequently Asked Questions

What type of property is this?

Storefront property - Concrete floors and high ceilings give the space a modern industrial finish.

Where is this storefront property located?

The property is located at 40 Main Street Philipstown, NY.

What are key features of this property?

This property features: 6,564‑square‑foot storefront at 40 Main Street; Open floor plan with concrete floors and high ceilings; Within walking distance of Metro‑North