Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    419-423 Route 59 Monsey, NY 10952

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $32,500,000

    Flagship commercial asset in Monsey's thriving commercial core.

    Lot size:
    4.93 Acres

    Property Features for 419-423 Route 59

    General Information

    Standard status
    Active
    Lot size
    4.93 Acres

    We can help!

    Listing Contact
    Jason Horowitz
    Jason Horowitz
    Source: Corcoran

    Listing Agency: TRIFORCE COMMERCIAL RE LLC Listing Agent: Jason Horowitz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Monsey Commercial Asset For Sale

    Located at 419-423 Route 59 in Monsey, New York, this commercial asset is available for sale for the first time since its construction in 1988. The property includes three buildings totaling approximately 42,800 square feet, situated on 4.93 acres of commercial land. Originally constructed with 46 separately metered commercial units, the property now contains 28 functioning spaces due to tenant combinations. The property is currently 100% leased, featuring a mix of national and regional operators, with many long-term occupants. The center is a staple destination within the Monsey business community, with uses including retail, food service, and professional offices. The buildings have been well maintained and offer ample parking, strong street visibility, and convenient access to the broader Rockland County area. There is also upside potential in untapped basement storage income. Subject to verification, the property offers future potential in terms of possible expansion or redevelopment. Its scale, location, and underlying land value make this offering compelling for both long-term investors and strategic users.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Colonial Square at Airmont, Pavilion 3

    Location Insight

    • Map
    • Local Demand
    City
    Monsey
    County
    Rockland
    State
    New York
    Longitude
    -74.0872927
    Latitude
    41.1089328

    Nearby Similar for Sale

    • $1,249,000
      Pending

      Multi-Family Retreat with Pool

      Well-maintained multi-family property with rental income potential and in-ground pool.
      159 Grandview Ave, Monsey, NY 10952
      View Details
    • $4,700,000
      Pending

      Monsey Multifamily Investment Opportunity

      Nine-unit apartment building in Monsey, NY, offering income potential.
      342 Blauvelt Rd, Monsey, NY 10952
      View Details
    • $770,000

      Monsey Office with Ample Parking

      Office space in Ramapo with reception, waiting room, parking.
      119 S Main St, Monsey, NY 10977
      View Details
    • $5,900,000

      Established Grocery Store on Maple

      Grocery store with equipment, space to grow, and income potential.
      176 Maple Ave, Monsey, NY 10952
      View Details
    • $2,000,000
      0.18 Acres

      Monsey Triplex For Sale

      Multi-family property in the heart of Monsey, New York.
      222-230 Adar Ct, Monsey, NY 10952
      View Details
    • $169,000

      Spacious One-Bedroom Patio End Unit

      One-bedroom patio unit with included amenities and low maintenance.
      1 Secora Rd, Monsey, NY 10952
      View Details
    • $149,000
      Pending

      Valley View Garden Apartment

      One-bedroom apartment with walk-in closet and courtyard view.
      8 Secora Rd, Monsey, NY 10952
      View Details
    • $5,900,000

      Established Grocery Store Investment Opportunity

      Grocery store with equipment, expansion potential, and income opportunities.
      176 Maple Ave, Monsey, NY 10952
      View Details

    FAQs

    What type of property is this?
    Shopping center - Flagship commercial asset in Monsey's thriving commercial core.
    Where is this shopping center located?
    The property is located at 419-423 Route 59 Monsey, NY.
    What is the asking price?
    The asking price for this property is $32,500,000.
    What are key features of this property?
    This property features: - 100% leased with a stable mix of national, regional, and long-term tenants, ensuring immediate income.; - Prime location on 4.93 acres of high-profile commercial land in the heart of Monsey's thriving commercial core.; - Substantial 42,800 square feet of commercial space across three well-maintained buildings.
    (845) 450-6500
    Request Owner's contact information
    419-423 Route 59 Monsey, NY 10952
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    419-423 Route 59
    Monsey, NY 10952
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    419-423 Route 59 Monsey, NY 10952
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason Horowitz
    Jason Horowitz
    Real Estate License ID: 10491207540
    (845) 450-6500 (845) 323-9177
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!