Building Details

Buildings 1

Stories 3

Listing Agency: Landslide Realty Corp m***@gmail.com Show Phone

Listed By: Moshe Hopstein Show Phone

Source: Xome

Added: Jun 21 Changed: Aug 28 Last Checked: Aug 29 at 6:32AM

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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 Landslide Realty Corp

Investment Insights

Based on property information with market context.

This three-story commercial building includes a basement and a varied interior arrangement suited to office and mixed-use occupancy. The basement is unfinished and provides storage space. The first floor is divided into multiple rooms, while the second floor contains professional offices and a large hall. The third floor adds another hall along with three offices and two additional office rooms.

The property includes eight parking spaces and a driveway. Window/wall units are listed among the interior features. Its address is 60 Main St, Florida, NY 10977.

Key Highlights

• Three‑story commercial building with basement
• Unfinished basement provides storage space
• Second floor includes professional offices and a large hall

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

$66,931

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

3.72%

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%

$1,338,620 $1.3M

Cap Rate 7%

$956,157 $956.2K

Cap Rate 9%

$743,678 $743.7K

Market Conditions

NOI Build-Up for 4,000 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

$107.5K $26.88/SF

− Vacancy

−$18.3K −$4.57/SF

EGI

$89.2K $22.31/SF

− OpEx

−$22.3K −$5.58/SF

NOI

$66.9K $16.73/SF

Area

Orange County, NY

Vacancy

17.00%

Lease Rate

$26.88 /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%

$1,338,620

Cap Rate 7%

$956,157

Cap Rate 9%

$743,678

Alternative Uses

Best Use

Office B

$956.2K

$836.6K – $1.12M (±1% cap)

NOI $66,931 @ 7.0% cap · market cap 3.72%

Second Best

Mixed Use

$497.6K

$435.4K – $580.5K (±1% cap)

NOI $34,830 @ 7.0% cap · market cap 1.93%

Theoretical Best

Office A

$1.35M

$1.19M – $1.58M (±1% cap)

NOI $94,833 @ 7.0% cap · market cap 5.27%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Big Ron's Barbeque Take-out & Catering Alpine Air HVAC Service

Suggested Use

Top Pick Real Estate Agency HVAC Service Dental Office Auto Repair Shop Gym & Fitness Center (Bike/Boat/Book/etc) 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.

Location Intelligence

Trade Area within ½ mile

240

Businesses Nearby

Explore this area Business Placement

Demographics for 10977, NY

71,049

Population

17,339

Households

4.1

Avg Household Size

24

Median Age

23%

College-Educated

77%

High-School Grad

11.3 sq mi

ZIP Area

6,288

Density / Sq Mi

$77,724

Median Household Income

$33,129

Median Earnings

$1,711

Median Rent

$602,300

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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Multi-level commercial layout combines office areas, assembly halls, storage, and on-site parking.

Where is this mixed-use property located?

The property is located at 60 MAIN ST Florida, NY.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: Three‑story commercial building with basement; Unfinished basement provides storage space; Second floor includes professional offices and a large hall