Warehouses with Residential
For Sale
$1,750,000
40 Wayne Avenue #A, Suffern, NY 10901
Two warehouses, offices, and apartments in excellent condition.
Property Size7,755 SF
Days on Market176
Property Features for 40 Wayne Avenue #A
General Information
Standard status
Active
Size
7,755 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$25,789
Building Details
Building Size
7,755 SF
Listing Agency:
Delaney Realty
(845) 357-2141
Listed By:
Patricia A Delaney
Source:
Cohenandcohenrealty
Added: Feb 28
Changed: Aug 23
Last Checked: Aug 22 at 11:01AM
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 Delaney Realty
Investment Insights
Based on property information with market context.
This property features two warehouses with front offices and two one-bedroom, one-bathroom residential apartments. It includes two loading docks, one drive-in door, and a private parking lot. The commercial units are metered for gas, electric, and water, while the residential units are metered for gas and electric. The property is in immaculate condition inside and out, presenting a turnkey investment opportunity for both owner-users and investors. Tenants are long term, without leases at the landlord's request.
Key Highlights
- Two warehouses with front offices and two residential apartments offer diverse income streams.
- Turnkey investment opportunity in immaculate condition.
- Private parking lot provides convenience for tenants.
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
$127,090
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
7.26%
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%
$2,541,800
$2.5M
Cap Rate 7%
$1,815,571
$1.8M
Cap Rate 9%
$1,412,111
$1.4M
Market Conditions
NOI Build-Up for 7,755 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
$246.6K $31.80/SF
− Vacancy
−$15.5K −$2.00/SF
EGI
$231.1K $29.80/SF
− OpEx
−$104.0K −$13.41/SF
NOI
$127.1K $16.39/SF
Area
Rockland County, NY
Vacancy
6.30%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$2,541,800
Cap Rate 7%
$1,815,571
Cap Rate 9%
$1,412,111
Alternative Uses
Best Use
Office B
$3.16M
$2.76M – $3.69M
NOI $221,163 @ 7.0% cap · market cap 12.64%
Second Best
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,090 @ 7.0% cap · market cap 7.26%
Theoretical Best
Specialty Retail
$5.13M
$4.49M – $5.98M
NOI $358,921 @ 7.0% cap · market cap 20.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10901, NY
25,145
Population
9,674
Households
2.6
Avg Household Size
42
Median Age
48%
College-Educated
90%
High-School Grad
23.5 sq mi
ZIP Area
1,070
Density / Sq Mi
$114,651
Median Household Income
$59,561
Median Earnings
$1,746
Median Rent
$490,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouses, offices, and apartments in excellent condition.
Where is this warehouse located?
The property is located at 40 Wayne Avenue #A Suffern, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Two warehouses with front offices and two residential apartments offer diverse income streams.; Turnkey investment opportunity in immaculate condition.; Private parking lot provides convenience for tenants.
