Building Details

Building Size 2,328 SF

Buildings 1

Stories 2

Units 3

Tenancy Multi

Listing Agency: KW Hudson Valley United k***@kw.com Show Phone

Listed By: Lynelle D Alessi Show Phone

Source: Clairedleone

Added: Aug 17 Changed: Oct 29 Last Checked: Oct 29 at 7:52PM

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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 KW Hudson Valley United

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 2,328-square-foot mixed-use building in Otisville includes a pizzeria, an apartment, and a storefront currently being prepared for a new tenant. The pizzeria is under a five-year lease with a five-year renewal option, while the apartment has a one-year lease.

The property is on Main Street, near other local businesses and a town park. Municipal parking is available across the street.

Key Highlights

• 2,328‑square‑foot mixed‑use building
• Pizzeria lease runs five years, with a five‑year option
• Apartment has a one‑year lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,335

Cap Rate

6.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$566,700 $566.7K

Cap Rate 7%

$404,786 $404.8K

Cap Rate 9%

$314,833 $314.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,328 SF

Gross rent

$41.9K $18.00/SF

− Vacancy

−$1.4K −$0.61/SF

EGI

$40.5K $17.39/SF

− OpEx

−$12.1K −$5.22/SF

NOI

$28.3K $12.17/SF

Area

Orange County, NY

Vacancy

3.40%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$566,700

Cap Rate 7%

$404,786

Cap Rate 9%

$314,833

Alternative Uses

Best Use

Apartment 5plus

$622.1K

$544.3K – $725.8K (±1% cap)

NOI $43,546 @ 7.0% cap · market cap 9.68%

Second Best

Retail

$404.8K

$354.2K – $472.3K (±1% cap)

NOI $28,335 @ 7.0% cap · market cap 6.30%

Theoretical Best

Office A

$788.5K

$689.9K – $919.9K (±1% cap)

NOI $55,193 @ 7.0% cap · market cap 12.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Main Street Wine ... Specialty Food Shop Pizza Mania Restaurant

Suggested Use

Top Pick Parking Lot & Garage Building Supply Auto Parts Store Grocery & Convenience Store Pharmacy Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

74

Businesses Nearby

4k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Sunoco Shops & Services

3,955 visits/mo 0.2 miles

Demographics for 10963, NY

3,663

Population

1,281

Households

2.9

Avg Household Size

43

Median Age

17%

College-Educated

73%

High-School Grad

13.2 sq mi

ZIP Area

278

Density / Sq Mi

$79,265

Median Household Income

$49,775

Median Earnings

$925

Median Rent

$313,400

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

Frequently Asked Questions

What type of property is this?

Mixed-use property - Leased restaurant and apartment space sit alongside a storefront being prepared for a new occupant.

Where is this mixed-use property located?

The property is located at 9 Main Street Otisville, NY.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 2,328‑square‑foot mixed‑use building; Pizzeria lease runs five years, with a five‑year option; Apartment has a one‑year lease