Listing Agency: HOWARD HANNA RAND REALTY Show Phone

Listed By: LEIGH A DEMELO Show Phone

Source: Corcoran

Added: Jan 8 Changed: Aug 8 Last Checked: Jul 23 at 9:49AM

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Investment Insights

Based on property information with market context.

This commercial property offers approximately 2,600 sq ft of open-concept space, providing versatility for various commercial uses. The property, formerly a 7-Eleven, benefits from a functional layout and strong exposure in a highly visible area with excellent accessibility. Ample rear parking is available, along with additional outdoor space. It is zoned commercial only, and convenience store use is not permitted. Ideal for retail, office, or service-based businesses seeking a well-located property with generous parking and outdoor space.

Key Highlights

• Highly visible location with excellent accessibility.
• Approximately 2,600 sq ft open‑concept space offering outstanding versatility.
• Ample rear parking.

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

$36,615

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

3.33%

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%

$732,300 $732.3K

Cap Rate 7%

$523,071 $523.1K

Cap Rate 9%

$406,833 $406.8K

Market Conditions

NOI Build-Up for 2,600 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

$54.6K $21.00/SF

− Vacancy

−$2.3K −$0.88/SF

EGI

$52.3K $20.12/SF

− OpEx

−$15.7K −$6.04/SF

NOI

$36.6K $14.08/SF

Area

Rockland County, NY

Vacancy

4.20%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

30.00%

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%

$732,300

Cap Rate 7%

$523,071

Cap Rate 9%

$406,833

Alternative Uses

Best Use

Retail

$523.1K

$457.7K – $610.3K (±1% cap)

NOI $36,615 @ 7.0% cap · market cap 3.33%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.72M

$1.50M – $2.01M (±1% cap)

NOI $120,335 @ 7.0% cap · market cap 10.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Cardtronics ATM Atm Citibank ATM Atm

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Computer & Electronic Repair Storage Facility (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

618

Businesses Nearby

10k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Mobil Shops & Services

7,194 visits/mo 0.5 miles

Webster Bank Shops & Services

3,212 visits/mo 0.5 miles

Demographics for 10923, NY

9,489

Population

2,909

Households

3.3

Avg Household Size

39

Median Age

36%

College-Educated

85%

High-School Grad

2.0 sq mi

ZIP Area

4,745

Density / Sq Mi

$95,769

Median Household Income

$55,947

Median Earnings

$1,827

Median Rent

$459,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront 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?

Storefront property - 2,600 sq ft commercial space with parking.

Where is this storefront property located?

The property is located at 75 N Central Highway Garnerville, NY.

What is the asking price?

The asking price for this property is $1,099,000.

What are key features of this property?

This property features: Highly visible location with excellent accessibility.; Approximately 2,600 sq ft open‑concept space offering outstanding versatility.; Ample rear parking.