Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7 Elmwood Drive New City, NY 10956

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,300,000

    Recently renovated office building in prime location, ideal for owner-user.

    Type:Commercial
    Lot size:
    0.53 Acres
    Added:
    Sep 15, 2025
    Days on Market:
    199
    Last Refresh:
    Mar 26 at 1:14 am

    Property Features for 7 Elmwood Drive

    General Information

    Standard status
    Active
    Lot size
    0.53 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    NAFTALI GREENBERG

    Listing agent NAFTALI GREENBERG License #10311208977

    Listing office YES REALTY

    Listing date Sep 15, 2025

    Source Corcoran

    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 YES REALTY

    Overview

    Renovated Office Building For Sale

    The property at 7 Elmwood Drive presents an opportunity to own an office building in New City. This professional office property has been recently renovated and features a prime location. The building is 40% vacant, making it suitable for an owner-user looking to occupy and expand. On-site parking is available. The property offers modern upgrades.
    Location Intelligence

    Current Use by Public Records

    Dr. Alissa L. ... Pediatrician Allergy Associates Medical Clinic Auctus Risk Services Financial Advisor North Carolina Recreational ... Association / Organization Davis William J ... Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New City
    County
    Rockland
    State
    New York
    Longitude
    -73.9857
    Latitude
    41.1475

    Nearby Similar for Sale

    • $749,000

      Commercial Building in Prime Location

      Freestanding commercial building in New City, NY with two spaces.
      96 Maple Avenue, New City, NY 10956
      View Details
    • $295,000

      Route 304 Professional Office Opportunity

      Versatile property suitable for professional or commercial use.
      511 Route 304, New City, NY 10956
      View Details
    • $1,299,000

      New City Commercial Space Available

      Commercial space in New City with offices and parking.
      86 Maple Avenue, New City, NY 10956
      View Details
    • $324,900
      3,500 SF

      Established Restaurant and Bar for Sale

      Turnkey restaurant/bar with patio, stage, and approved rooftop deck.
      191 S Main Street, New City, NY 10956
      View Details
    • $699,000

      Multi-Level Professional Office Building

      Standalone office building near Rockland County services and Main Street.
      146 Maple Avenue, New City, NY 10956
      View Details
    • $749,000

      Commercial Building in Prime Location

      Freestanding commercial building with two distinct spaces in New City.
      96 Maple Avenue, New City, NY 10956
      View Details
    • $1,299,000
      3,527 SF

      Downtown New City Commercial Space

      Commercial space in downtown New City with 25+ parking spaces.
      86 Maple Avenue, New City, NY 10956
      View Details
    • $2,300,000

      Renovated Office Building For Sale

      Professional office property in prime location, ideal for owner-user.
      7 Elmwood Dr, New City, NY, 10956-5136
      View Details
    • $1,299,000
      3,527 SF

      Downtown Commercial Space For Sale

      Commercial space in downtown New City suitable for various uses.
      86 Maple Ave, New City, NY, 10956-5019
      View Details
    • $749,000

      Commercial Building in Prime Location

      Freestanding commercial building with two spaces in New City, NY.
      96 Maple Ave, New City, NY, 10956-5019
      View Details
    • $4,000,000
      2,155 SF

      Turn-Key Gas Station Business

      Gas station with convenience store and bays for sale.
      279 S Little Tor Rd, New City, NY 10956
      View Details

    FAQs

    What type of property is this?
    Office building - Recently renovated office building in prime location, ideal for owner-user.
    Where is this office building located?
    The property is located at 7 Elmwood Drive New City, NY.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Prime location in the heart of New City.; Ideal for owner‑user to occupy and grow with 40% vacancy.; Recently renovated with modern upgrades throughout.
    (845) 425-5988
    We can help!
    Listing Contact
    NAFTALI GREENBERG
    Real Estate License ID: 10311208977
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!