Building Details

Year Built 1852

Listing Agency: Triforce Commercial RE LLC Show Phone

Listed By: Jason Horowitz · License #10491207540 Show Phone

Source: Neilcharlesrealestate

Added: Oct 9 Changed: Oct 30 Last Checked: Oct 30 at 2:08AM

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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 Triforce Commercial RE LLC

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Investment Insights

Based on property information with market context.

This commercial office property contains 3,088 square feet and was built in 1852. Its address is 480 Kings Highway, Clarkstown, New York.

Kings Highway provides the property’s street setting, with access to Route 303 and Route 9W.

Key Highlights

• 3,088 square feet of commercial office space
• Built in 1852
• Located at 480 Kings Highway

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$88,066

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,761,320 $1.8M

Cap Rate 7%

$1,258,086 $1.3M

Cap Rate 9%

$978,511 $978.5K

What to ask about pricing

Market Conditions

NOI Build-Up for 3,088 SF

Gross rent

$139.0K $45.00/SF

− Vacancy

−$21.5K −$6.98/SF

EGI

$117.4K $38.03/SF

− OpEx

−$29.4K −$9.51/SF

NOI

$88.1K $28.52/SF

Area

Rockland County, NY

Vacancy

15.50%

Lease Rate

$45.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,761,320

Cap Rate 7%

$1,258,086

Cap Rate 9%

$978,511

Alternative Uses

Best Use

Office B

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,066 @ 7.0% cap · market cap 489,255.56%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.04M

$1.79M – $2.38M (±1% cap)

NOI $142,920 @ 7.0% cap · market cap 794,000.00%

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

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Spa & Massage Center Nail Salon Bakery

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

Paved road access

Location Intelligence

Trade Area within ½ mile

609

Businesses Nearby

Explore this area Business Placement

Demographics for 10989, NY

8,993

Population

3,379

Households

2.7

Avg Household Size

47

Median Age

58%

College-Educated

97%

High-School Grad

4.8 sq mi

ZIP Area

1,874

Density / Sq Mi

$131,501

Median Household Income

$70,615

Median Earnings

$2,017

Median Rent

$512,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - The office property fronts Kings Highway and offers access to Routes 303 and 9W.

Where is this office unit located?

The property is located at 480 Kings Highway Clarkstown, NY.

What are key features of this property?

This property features: 3,088 square feet of commercial office space; Built in 1852; Located at 480 Kings Highway