Building Details

Building Size 3,740 SF

Year Built 1965

Units 4

Listing Agency: MS Realty Group USA, Inc a*@exitrv.com Show Phone

Listed By: Aaron Gestetner Show Phone

Source: Elliman

Added: Aug 14 Changed: Aug 15 Last Checked: Aug 16 at 5:54AM

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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 MS Realty Group USA, Inc

Investment Insights

Based on property information with market context.

Located at 42-46 Buckberg Rd in Tomkins Cove, this multifamily property comprises four separate residences with a combined total of 8 bedrooms and 5 bathrooms. The residences occupy a 2.7-acre lot, providing a substantial land component for the property. Built in 1965, the asset offers a distinct multifamily configuration suited to residential income use or multi-generational living.

The property is near schools, transportation, and local amenities. WalkScore is 23, classified as Car-Dependent, while BikeScore is 16, classified as Somewhat Bikeable.

Key Highlights

• Four separate residences on one multifamily property
• Combined configuration includes 8 bedrooms and 5 bathrooms
• Situated on a 2.7‑acre lot

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

$61,292

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

5.70%

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%

$1,225,840 $1.2M

Cap Rate 7%

$875,600 $875.6K

Cap Rate 9%

$681,022 $681.0K

Market Conditions

NOI Build-Up for 3,740 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

$118.9K $31.80/SF

− Vacancy

−$7.5K −$2.00/SF

EGI

$111.4K $29.80/SF

− OpEx

−$50.1K −$13.41/SF

NOI

$61.3K $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%

$1,225,840

Cap Rate 7%

$875,600

Cap Rate 9%

$681,022

Alternative Uses

Best Use

Apartment 5plus

$875.6K

$766.2K – $1.02M (±1% cap)

NOI $61,292 @ 7.0% cap · market cap 5.70%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.47M

$2.16M – $2.88M (±1% cap)

NOI $173,097 @ 7.0% cap · market cap 16.10%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Multifamily properties

Suggested Use

Top Pick Home Appliance 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

4

Residential units

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Explore this area Business Placement

Demographics for 10986, NY

1,858

Population

621

Households

3

Avg Household Size

46

Median Age

43%

College-Educated

93%

High-School Grad

9.9 sq mi

ZIP Area

188

Density / Sq Mi

$58,631

Median Earnings

$1,583

Median Rent

$594,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Multifamily property - The property contains four separate residences within a multifamily configuration.

Where is this multifamily property located?

The property is located at 42-46 Buckberg Rd Tomkins Cove, NY.

What is the asking price?

The asking price for this property is $1,075,000.

What are key features of this property?

This property features: Four separate residences on one multifamily property; Combined configuration includes 8 bedrooms and 5 bathrooms; Situated on a 2.7‑acre lot