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    Two-Level Office and Retail Building Title is generated by Realmo AI

    88 Monhagen Avenue, Middletown, NY 10940

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    For Lease
    $3,800/Mo $21 SF/Yr (calc)

    COMMERCIAL - Middletown, NY

    Type:Office
    Property size:
    2,108 SF
    Lot size:
    0.13 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 88 Monhagen Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    I-1
    Rooms
    Basement
    Parking
    10
    Parking features
    Driveway, Assigned, Off Street
    Security features
    Security Lighting
    Fencing
    Chain Link
    Basement
    Unfinished, Crawl Space
    Standard status
    Active
    APN
    330900-030-000-0001-004.000-0000
    Lot size
    0.13 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    8584

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air, Zoned
    Water source
    Public

    Building Details

    Floors in Building
    2
    Flooring type
    Tile, Hardwood, Vinyl, Laminate
    Building materials
    Batts Insulation, Block, Fiberglass Insulation, Frame, Vinyl Siding

    We can help!

    Listing Contact
    Jeffrey Lyons

    Listing agent Jeffrey Lyons

    Listing office Curasi Realty, Inc. 1060 State Route 17K, Montgomery, NY

    Listing date Jun 5, 2026

    MLS# 1003610

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2108 SF commercial building with two levels of office and retail space
    • Reception area plus multiple private offices, flexible workspaces, and a conference room
    • Convenient kitchenette included for staff and client use
    • Central air with zoned cooling; forced‑air natural gas heating
    • Municipal public water and public sewer services
    • Off‑street parking with driveway and assigned parking; chain‑link fencing

    Overview

    This two-level commercial building at 88 Monhagen Avenue offers office and retail space designed for business use and client interaction. The interior layout includes a welcoming reception area, multiple private offices, flexible workspaces, a conference room, and a kitchenette for staff and client convenience. Municipal water and sewer services are in place to support day-to-day operations, and the space is set up for customization.

    Located in Middletown, New York, the property is positioned within an I-1 zoning district. The combination of office rooms and retail space can support a range of service concepts that need both administrative space and a customer-facing area.

    For tenants seeking a single building that can accommodate both professional office functions and retail or service operations, this layout provides the core rooms most businesses require, including reception and conference space. Multiple private offices and flexible work areas make it workable for organizations that anticipate different team sizes, client meetings, or a mix of back-office and front-of-house activities.
    Location Intelligence

    Current Use by Public Records

    TKC Landscaping Landscaping BOYCE EXCAVATING Corporate Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Orange
    State
    New York
    Longitude
    -74.4303342
    Latitude
    41.4472866

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    FAQs

    What type of property is this?
    Office units - Two-level setup with reception, offices, and a conference room for mixed office/retail use.
    Where is this office units located?
    The property is located at 88 Monhagen Avenue Middletown, NY.
    What is the lease rate?
    The lease rate is $3,800 /Mo.
    What are key features of this property?
    This property features: 2108 SF commercial building with two levels of office and retail space; Reception area plus multiple private offices, flexible workspaces, and a conference room; Convenient kitchenette included for staff and client use
    (845) 234-3375
    We can help!
    Listing Contact
    Jeffrey Lyons
    Learn More
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    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
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