Storefront with Upper
For Sale
$575,000
82-84 W Railroad Ave, West Haverstraw, NY 10923
Highly visible retail storefront offers 2,050 sq. ft. plus a fully finished basement and an upstairs two-bedroom, one-bath apartment.
Property Size2,050 SF
Days on Market132
Property Features for 82-84 W Railroad Ave
General Information
Standard status
Active
Size
2,050 SF
Property subtype
Commercial
Building Details
Building Size
2,050 SF
Year Built
1970
Stories
2
Units
1
Listing Agency:
RAND COMMERCIAL
Listed By:
Rosemarie E. Franzese
(845) 461-5239
Source:
Elliman
Added: Apr 27
Changed: Aug 16
Last Checked: Sep 4 at 11:24AM
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 RAND COMMERCIAL
Investment Insights
Based on property information with market context.
This property is a highly visible storefront that is currently operating as a hair salon business. It can be taken over vacant, with a total of 2,050 sq. ft. on the retail level plus a totally finished basement. In addition to the storefront and basement, there is an upstairs two-bedroom, one-bath apartment.
The building is located at 82-84 W Railroad Ave in West Haverstraw, with easy access to nearby retail, dining, gas stations, and a pharmacy. It is directly across from the Garnerville Arts and Industrial Center.
Overall, the layout combines street-facing retail space with a finished lower level and residential space above, supporting flexible use depending on the buyer’s plans.
The building is located at 82-84 W Railroad Ave in West Haverstraw, with easy access to nearby retail, dining, gas stations, and a pharmacy. It is directly across from the Garnerville Arts and Industrial Center.
Overall, the layout combines street-facing retail space with a finished lower level and residential space above, supporting flexible use depending on the buyer’s plans.
Key Highlights
- Highly visible retail storefront with 2,050 sq. ft. plus a fully finished basement
- Upstairs apartment features 2 bedrooms and 1 bathroom
- Year built: 1970
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
$28,869
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
5.02%
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%
$577,380
$577.4K
Cap Rate 7%
$412,414
$412.4K
Cap Rate 9%
$320,767
$320.8K
Market Conditions
NOI Build-Up for 2,050 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
$43.1K $21.00/SF
− Vacancy
−$1.8K −$0.88/SF
EGI
$41.2K $20.12/SF
− OpEx
−$12.4K −$6.04/SF
NOI
$28.9K $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%
$577,380
Cap Rate 7%
$412,414
Cap Rate 9%
$320,767
Alternative Uses
Best Use
Retail
$412.4K
$360.9K – $481.2K
NOI $28,869 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $94,879 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
72k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 31%
Apparel 5%
Groceries 4%
Dunkin' Donuts
Dining
12,331 visits/mo
0.3 miles
Speedway
Shops & Services
8,821 visits/mo
0.3 miles
Shell
Shops & Services
6,792 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
5,343 visits/mo
0.4 miles
KFC
Dining
5,147 visits/mo
0.3 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
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Frequently Asked Questions
What type of property is this?
Storefront property - Highly visible retail storefront offers 2,050 sq. ft. plus a fully finished basement and an upstairs two-bedroom, one-bath apartment.
Where is this storefront property located?
The property is located at 82-84 W Railroad Ave West Haverstraw, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Highly visible retail storefront with 2,050 sq. ft. plus a fully finished basement; Upstairs apartment features 2 bedrooms and 1 bathroom; Year built: 1970
