Fully Leased Flex
For Sale
$2,499,000
75-95 BILL LARKIN DR, New Windsor, NY 12553
Four office-and-warehouse buildings form a fully occupied commercial asset near established transportation and distribution facilities.
Property Size10,910 SF
Price / SF$229.06
Days on Market258
Property Features for 75-95 BILL LARKIN DR
General Information
Standard status
Active
Size
10,910 SF
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$21,913
Amenities
Window/Wall Unit
3
Building Details
Buildings
4
Listing Agency:
eRealty Advisors, Inc
(845) 665-4466
Listed By:
Yisroel Katz
(845) 665-4466
Source:
Xome
Added: Dec 15, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:54PM
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 eRealty Advisors, Inc
Investment Insights
Based on property information with market context.
This flex space portfolio includes four office-and-warehouse buildings totaling 10,910 SF. The components measure 4,200 SF at 95 Bill Larkin Drive, 1,300 SF at 85 Bill Larkin Drive, 1,950 SF at 75 Larkin Drive, and 3,000 SF at 332 Avenue of Americas. The buildings combine office and flex configurations across the portfolio.
The asset is positioned near Stewart International Airport and an Amazon distribution facility, with access to major highways and commercial corridors. All four buildings are 100% leased, providing a fully occupied configuration across the property.
The asset is positioned near Stewart International Airport and an Amazon distribution facility, with access to major highways and commercial corridors. All four buildings are 100% leased, providing a fully occupied configuration across the property.
Key Highlights
- Four‑building flex portfolio totaling 10,910 SF
- 100% leased across the portfolio
- 4,200 SF office/warehouse building at 95 Bill Larkin Drive
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
$182,555
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
7.31%
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%
$3,651,100
$3.7M
Cap Rate 7%
$2,607,929
$2.6M
Cap Rate 9%
$2,028,389
$2.0M
Market Conditions
NOI Build-Up for 10,910 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
$293.3K $26.88/SF
− Vacancy
−$49.9K −$4.57/SF
EGI
$243.4K $22.31/SF
− OpEx
−$60.9K −$5.58/SF
NOI
$182.6K $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%
$3,651,100
Cap Rate 7%
$2,607,929
Cap Rate 9%
$2,028,389
Alternative Uses
Best Use
Office B
$2.61M
$2.28M – $3.04M
NOI $182,555 @ 7.0% cap · market cap 7.31%
Second Best
Flex RnD
$1.82M
$1.59M – $2.12M
NOI $127,191 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$3.70M
$3.23M – $4.31M
NOI $258,656 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12553, NY
26,728
Population
11,150
Households
2.4
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
24.2 sq mi
ZIP Area
1,104
Density / Sq Mi
$94,207
Median Household Income
$50,749
Median Earnings
$1,612
Median Rent
$351,200
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?
Flex space - Four office-and-warehouse buildings form a fully occupied commercial asset near established transportation and distribution facilities.
Where is this flex space located?
The property is located at 75-95 BILL LARKIN DR New Windsor, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Four‑building flex portfolio totaling 10,910 SF; 100% leased across the portfolio; 4,200 SF office/warehouse building at 95 Bill Larkin Drive
