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    38 Franklin St Nyack, NY 10960

    For Sale
    $1,300,000

    Four-unit building, high rental potential

    Property size:
    5,357 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use investment property, located at 38 S Franklin St in Nyack, NY 10960, presents a compelling opportunity. The property encompasses two buildings totaling 5,357 square feet on a 0.09-acre lot, zoned MIXED. Built in 1900, the two-story structure features four income-generating units: a storefront with a three-bedroom apartment above, and two additional two-bedroom apartments in a separate building. The property currently generates a monthly rental income of $9,247, with all tenants on month-to-month leases and below-market rents, offering significant potential for increased revenue to approximately $11,900 per month. An unfinished basement provides additional development possibilities. The asking price is $1,300,000, translating to $243 per square foot. This prime location in Nyack's vibrant downtown area ensures strong tenant demand and future appreciation. Broker co-op is available.

    Property Features for 38 Franklin St

    General Information

    Property type
    Individual retail properties
    Square Feet
    5,357 SF
    Lot Size
    3,920 SF

    Building Details

    Year Built
    1900
    Buildings
    2
    Stories
    2
    Units
    4

    HighLights

    • Exceptional mixed‑use investment property in Nyack, NY.
    • Two buildings totaling 5,357 square feet on a 0.09‑acre lot, MIXED zoning.
    • Four income‑generating units: one storefront with a 3‑bedroom apartment above, and two additional 2‑bedroom apartments.
    • $9,247 monthly rental income (with potential for $11,900).
    • Unfinished basement offers development potential.
    • Asking price: $1,300,000 ($243/SF).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Melany´s Grocery Store Grocery Grocery Store Trendsetters Marketing Group Marketing Consultant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Nyack
    County
    Rockland
    State
    New York
    Longitude
    -73.9220507
    Latitude
    41.0899763

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    FAQs

    What type of property is this?
    Individual retail property - Four-unit building, high rental potential
    Where is this individual retail property located?
    The property is located at 38 Franklin St Nyack, NY.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Exceptional mixed-use investment property in Nyack, NY.; Two buildings totaling 5,357 square feet on a 0.09-acre lot, MIXED zoning.; Four income-generating units: one storefront with a 3-bedroom apartment above, and two additional 2-bedroom apartments.
    Request Owner's contact information
    38 Franklin St Nyack, NY 10960
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    Nyack, NY 10960
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    Realmo Value Estimation

    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.

    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.

    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
    38 Franklin St Nyack, NY 10960
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