Renovated Colonial Office
For Sale
$700,000
5 TALLMAN PL, Nyack, NY 10901
Two-story layout includes a kitchen, multiple rooms, two full baths, and a spacious attic.
Property Size1,907 SF
Price / SF$367.07
Days on Market106
Property Features for 5 TALLMAN PL
General Information
Standard status
Active
Size
1,907 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$6,378
Amenities
Window/Wall Unit
3
Parking. Cul-De-Sac.
6 Parking Spaces. Driveway, Open Parking.
Level
Cul-De-Sac, Level.
Building Details
Year Built
1890
Construction
colonial
Listing Agency:
eRealty Advisors, Inc
(845) 274-2780
Listed By:
Charnie Guttmann
(845) 274-2780
Source:
Xome
Added: May 17
Changed: Aug 29
Last Checked: Aug 29 at 4:05PM
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 eRealty Advisors, Inc
Investment Insights
Based on property information with market context.
This 1,907-square-foot colonial office property combines a recently renovated interior with a traditional residential-style layout. Built in 1890, the first level includes an updated white kitchen with black stone countertops, a dining room, living room, full bath, and guest bedroom. The second level contains three additional bedrooms and another full bath. A spacious attic features two full windows that bring in natural light.
Exterior features include a gray deck, backyard, above-ground pool, and a freshly repaved driveway. The property is identified as zoned for commercial use and offers a configuration adaptable to office occupancy, with multiple rooms distributed across two levels.
Exterior features include a gray deck, backyard, above-ground pool, and a freshly repaved driveway. The property is identified as zoned for commercial use and offers a configuration adaptable to office occupancy, with multiple rooms distributed across two levels.
Key Highlights
- 1,907‑square‑foot colonial property built in 1890
- Zoned for commercial use
- Recently renovated kitchen with white cabinetry and black stone countertops
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
$54,385
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
7.77%
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%
$1,087,700
$1.1M
Cap Rate 7%
$776,929
$776.9K
Cap Rate 9%
$604,278
$604.3K
Market Conditions
NOI Build-Up for 1,907 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
$85.8K $45.00/SF
− Vacancy
−$13.3K −$6.98/SF
EGI
$72.5K $38.03/SF
− OpEx
−$18.1K −$9.51/SF
NOI
$54.4K $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 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%
$1,087,700
Cap Rate 7%
$776,929
Cap Rate 9%
$604,278
Alternative Uses
Best Use
Office B
$776.9K
$679.8K – $906.4K
NOI $54,385 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,261 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,862
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story layout includes a kitchen, multiple rooms, two full baths, and a spacious attic.
Where is this office building located?
The property is located at 5 TALLMAN PL Nyack, NY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1,907‑square‑foot colonial property built in 1890; Zoned for commercial use; Recently renovated kitchen with white cabinetry and black stone countertops
