Updated Retail Storefront
New
For Sale
$779,000
546 COMMERCE ST, Thornwood, NY 10532
C-NR-zoned storefront with retail-oriented use parameters, level site, and dedicated parking.
Property Size2,000 SF
Price / SF$389.50
Days on Market6
Property Features for 546 COMMERCE ST
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Zoning
C-NR
Taxes and HOA fees
Annual Taxes
$13,943
Amenities
Window/Wall Unit
8 Parking Spaces.
Level
Level.
Building Details
Year Built
1960
Listing Agency:
ERA Insite Realty Services
(914) 949-9600
Listed By:
Michael D'Onofrio · License #30DO0491138
(914) 329-4559
Source:
Xome
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 2 at 1:59PM
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 ERA Insite Realty Services
Investment Insights
Based on property information with market context.
This 2,000-square-foot storefront building dates to 1960 and has received recent interior and exterior improvements, including updated sheetrock walls and new siding. A window/wall unit provides the listed heating and cooling feature, while the level property includes eight parking spaces.
Located at 546 Commerce St in Thornwood, NY, the property carries C-NR zoning. The designation supports stores selling goods at retail and customary personal services directly associated with retail sales. The stated zoning does not allow fabrication, business or professional offices, banking offices, or restaurants.
Located at 546 Commerce St in Thornwood, NY, the property carries C-NR zoning. The designation supports stores selling goods at retail and customary personal services directly associated with retail sales. The stated zoning does not allow fabrication, business or professional offices, banking offices, or restaurants.
Key Highlights
- 2,000 SF storefront building constructed in 1960
- C‑NR zoning permits retail sales and customary personal services tied to retail activity
- Recent updates include sheetrock walls and new exterior siding
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
$42,289
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
5.43%
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%
$845,780
$845.8K
Cap Rate 7%
$604,129
$604.1K
Cap Rate 9%
$469,878
$469.9K
Market Conditions
NOI Build-Up for 2,000 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
$69.6K $34.80/SF
− Vacancy
−$9.2K −$4.59/SF
EGI
$60.4K $30.21/SF
− OpEx
−$18.1K −$9.06/SF
NOI
$42.3K $21.14/SF
Area
Westchester County, NY
Vacancy
13.20%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
30.00%
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%
$845,780
Cap Rate 7%
$604,129
Cap Rate 9%
$469,878
Alternative Uses
Best Use
Retail
$604.1K
$528.6K – $704.8K
NOI $42,289 @ 7.0% cap · market cap 5.43%
Second Best
Specialty Retail
$491.1K
$429.8K – $573.0K
NOI $34,380 @ 7.0% cap · market cap 4.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 58%
Shops & Services 42%
Ace Hardware
Home Improvements & Furnishings
7,223 visits/mo
0.2 miles
Sinclair
Shops & Services
3,390 visits/mo
0.2 miles
BP
Shops & Services
1,896 visits/mo
0.2 miles
Demographics for 10532, NY
5,115
Population
1,887
Households
2.7
Avg Household Size
44
Median Age
54%
College-Educated
93%
High-School Grad
2.3 sq mi
ZIP Area
2,224
Density / Sq Mi
$134,662
Median Household Income
$70,690
Median Earnings
$3,501
Median Rent
$675,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C-NR-zoned storefront with retail-oriented use parameters, level site, and dedicated parking.
Where is this storefront property located?
The property is located at 546 COMMERCE ST Thornwood, NY.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 2,000 SF storefront building constructed in 1960; C‑NR zoning permits retail sales and customary personal services tied to retail activity; Recent updates include sheetrock walls and new exterior siding
