Mid-Century Modern Office/Residential
For Sale
$1,995,000
60 Woods Road, Tuxedo Park, NY 10987
Unique mid-century modern complex on 3.25 acres with views.
Property Size7,474 SF
Lot Size3.25 Acres
Price / SF$266.93
Days on Market251
Property Features for 60 Woods Road
General Information
Standard status
Active
Size
7,474 SF
Lot size
3.25 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,447
Amenities
Baseboard Heating
Oil Heating
Listing Agency:
THE GREENE REALTY GROUP
(860) 560-1006
Listed By:
DEREK J. GREENE · License #10371200613
Source:
Corcoran
Added: Dec 1, 2025
Changed: Aug 8
Last Checked: Jul 15 at 8:41PM
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 THE GREENE REALTY GROUP
Investment Insights
Based on property information with market context.
This property offers approved office use with 35 parking spaces, as well as residential opportunities due to a recent R-2 zoning change that permits R-3 uses by adaptive reuse provision. Permitted community benefit facilities include a library, private school, religious institution, and child day care/nursery school. The property features 12,650 unique square feet of mid-century modern designed space on a 3.25-acre mountaintop estate compound with views, located 45 miles from Manhattan. The complex consists of three buildings of different sizes: 7474 sq ft, 3578 sq ft, and 1152 sq ft, allowing for multiple tenant, user, or development opportunities. The complex was designed to minimally disturb the environment, with buildings connected by enclosed and covered walkways and decks, as well as green roofs. It is surrounded by state park land, ensuring no future development around the property. A secluded private road provides gated entrance. The existing site plan is for office use and runs with the land. The property is sold in "as is where is" condition.
Key Highlights
- Approved for office use with 35 parking spaces and potential for residential development (R‑2 and R‑3 zoning).
- 12,650 sq ft** of mid‑century modern designed space on a 3.25‑acre mountain top estate.
- Three buildings (7474 sq ft, 3578 sq ft, and 1152 sq ft) offer multiple tenant, user, or development opportunities.
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
$125,061
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
6.27%
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%
$2,501,220
$2.5M
Cap Rate 7%
$1,786,586
$1.8M
Cap Rate 9%
$1,389,567
$1.4M
Market Conditions
NOI Build-Up for 7,474 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
$200.9K $26.88/SF
− Vacancy
−$34.2K −$4.57/SF
EGI
$166.7K $22.31/SF
− OpEx
−$41.7K −$5.58/SF
NOI
$125.1K $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%
$2,501,220
Cap Rate 7%
$1,786,586
Cap Rate 9%
$1,389,567
Alternative Uses
Best Use
Office B
$1.79M
$1.56M – $2.08M
NOI $125,061 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,195 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 10987, NY
4,454
Population
1,646
Households
2.7
Avg Household Size
47
Median Age
49%
College-Educated
96%
High-School Grad
33.4 sq mi
ZIP Area
133
Density / Sq Mi
$164,063
Median Household Income
$88,536
Median Earnings
$1,486
Median Rent
$682,800
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 - Unique mid-century modern complex on 3.25 acres with views.
Where is this office building located?
The property is located at 60 Woods Road Tuxedo Park, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Approved for office use with **35 parking spaces** and potential for residential development (R‑2 and R‑3 zoning).; 12,650 sq ft** of mid‑century modern designed space on a 3.25‑acre mountain top estate.; Three buildings (7474 sq ft, 3578 sq ft, and 1152 sq ft) offer multiple tenant, user, or development opportunities.
