Building Details

Building Size 4,181 SF

Year Built 1751

Units 7

Listing Agency: VORO LLC

Listed By: Moshe Katz Show Phone

Source: Elliman

Added: Sep 4 Changed: Oct 12 Last Checked: Oct 20 at 8:26PM

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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 VORO LLC

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Investment Insights

Based on property information with market context.

This mixed-use property includes two buildings with multiple residential units and commercial space. The primary structure contains a 4-bedroom apartment with a den and 2 bathrooms, two studio apartments, a 2-bedroom/2-bathroom apartment, and a storefront equipped with a renovated kitchen and full bathroom. A separate barn/garage building adds a renovated 2-bedroom apartment with a den and bathroom above, plus a half bathroom on the first level.

The approximately 2-acre property includes a large parking area, spacious yard, direct views of Garrison Pond, well water, oil heat, an electric water heater, a Colligan water softener and filter, exterior drainage improvements, and a security video system. Located at 915 Route 9W in Fort Montgomery, the property is near Bear Mountain, nature trails, West Point Academy, Bear Mountain Bridge, and the Palisades Parkway. Additional residential development may be possible, subject to zoning and required approvals.

Key Highlights

• Approximately 2 acres with direct views of Garrison Pond
• Primary building includes a 4‑bedroom apartment, two studios, a 2‑bedroom/2‑bathroom apartment, and storefront
• Separate barn/garage building contains a renovated 2‑bedroom apartment with den and bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$78,208

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,564,160 $1.6M

Cap Rate 7%

$1,117,257 $1.1M

Cap Rate 9%

$868,978 $869.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,181 SF

Gross rent

$147.5K $35.28/SF

− Vacancy

−$5.3K −$1.27/SF

EGI

$142.2K $34.01/SF

− OpEx

−$64.0K −$15.30/SF

NOI

$78.2K $18.71/SF

Area

Orange County, NY

Vacancy

3.60%

Lease Rate

$35.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,564,160

Cap Rate 7%

$1,117,257

Cap Rate 9%

$868,978

Alternative Uses

Best Use

Apartment 5plus

$1.12M

$977.6K – $1.30M (±1% cap)

NOI $78,208 @ 7.0% cap · market cap 4.34%

Second Best

Retail

$727.0K

$636.1K – $848.2K (±1% cap)

NOI $50,889 @ 7.0% cap · market cap 2.83%

Theoretical Best

Office A

$1.42M

$1.24M – $1.65M (±1% cap)

NOI $99,124 @ 7.0% cap · market cap 5.51%

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

Property Analytics

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Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage Plumbing Service Auto Parts Store Dental Office Storage Facility Catering Service

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

115

Businesses Nearby

Explore this area Business Placement

Demographics for 10922, NY

1,026

Population

557

Households

1.8

Avg Household Size

45

Median Age

29%

College-Educated

94%

High-School Grad

2.1 sq mi

ZIP Area

489

Density / Sq Mi

$88,516

Median Household Income

$66,396

Median Earnings

$1,403

Median Rent

$381,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two buildings combine apartments, a storefront, parking, and development possibilities subject to zoning and approvals.

Where is this mixed-use property located?

The property is located at 915 Route 9W Fort Montgomery, NY.

What is the asking price?

The asking price for this property is $1,799,999.

What are key features of this property?

This property features: Approximately 2 acres with direct views of Garrison Pond; Primary building includes a 4‑bedroom apartment, two studios, a 2‑bedroom/2‑bathroom apartment, and storefront; Separate barn/garage building contains a renovated 2‑bedroom apartment with den and bathroom