Building Details

Building Size 12,650 SF

Buildings 3

Construction Mid Century Modern

Tenancy Multi

Listing Agency: Show Phone

Listed By: John Taylor

Source: Hedgestonehomes

Added: Oct 21 Changed: Oct 28 Last Checked: Oct 28 at 4:26PM

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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 John Taylor

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Investment Insights

Based on property information with market context.

The 12,650-square-foot office property comprises three buildings measuring 7,474, 3,578 and 1,152 square feet. Enclosed and covered bridges and decks connect the structures, which also feature green roofs. The property is offered in as-is, where-is condition.

A site plan approval supports office use with 35 parking spaces. R-2 and R-3 adaptive-reuse zoning allows for residential conversion opportunities; R-2 permits conversion to one, two or three one-family houses without a site plan. Permitted community-benefit facility uses include a library, private school, religious facility, and child day care or nursery school.

The 3.25-acre property is 45 miles from Manhattan and surrounded by state park land, with no development permitted around the site. Access is via a private gated road.

Key Highlights

• 12,650 square feet across three buildings: 7,474, 3,578 and 1,152 square feet
• Site plan approval for office use with 35 parking spaces
• R‑2 and R‑3 adaptive‑reuse zoning; R‑2 allows one, two or three one‑family houses without a site plan

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$110,150

Cap Rate

5.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,203,000 $2.2M

Cap Rate 7%

$1,573,571 $1.6M

Cap Rate 9%

$1,223,889 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,650 SF

Gross rent

$204.9K $16.20/SF

− Vacancy

−$28.7K −$2.27/SF

EGI

$176.2K $13.93/SF

− OpEx

−$66.1K −$5.22/SF

NOI

$110.1K $8.71/SF

Area

Orange County, NY

Vacancy

14.00%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,203,000

Cap Rate 7%

$1,573,571

Cap Rate 9%

$1,223,889

Alternative Uses

Best Use

Office B

$3.02M

$2.65M – $3.53M (±1% cap)

NOI $211,670 @ 7.0% cap · market cap 10.66%

Second Best

Mixed Use

$1.57M

$1.38M – $1.84M (±1% cap)

NOI $110,150 @ 7.0% cap · market cap 5.55%

Theoretical Best

Office A

$4.28M

$3.75M – $5.00M (±1% cap)

NOI $299,908 @ 7.0% cap · market cap 15.11%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Electrical Service Parking Lot & Garage Gym & Fitness Center Bed & Breakfast Hotel & Motel

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

Multi-tenant

Tenancy

Yes

Paved road access

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office building - Three connected buildings offer approved office use with a 35-space parking plan and adaptive-reuse zoning.

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 $1,985,000.

What are key features of this property?

This property features: 12,650 square feet across three buildings: 7,474, 3,578 and 1,152 square feet; Site plan approval for office use with 35 parking spaces; R‑2 and R‑3 adaptive‑reuse zoning; R‑2 allows one, two or three one‑family houses without a site plan