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    17M Brookside Ave Chester, NY 10918
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    17M Brookside Ave Chester, NY 10918

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    • Neighborhood centers
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    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 17M Brookside Ave

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Located in the bustling Chester, New York community, Chester Mall offers exceptional retail and office space for lease. This vibrant strip center boasts a strong tenant mix, including ShopRite, Tractor Supply, Dunkin' Donuts, Wendy's, Middletown Medical, and Mobile Rescue, ensuring high visibility and foot traffic. Two spaces are currently available, providing flexible options for businesses seeking a prominent location. One space measures approximately 2,850 square feet and is offered at a net-net-net (NNN) lease rate of $14 per square foot. A second space, Suite 124, encompasses approximately 3,028 square feet and is available at an NNN lease rate of $18 per square foot. Both spaces are suitable for a variety of retail uses. Minimum leasable space is 2,300 square feet, with a maximum contiguous space of 3,000 square feet. The property is situated on Route 17M (Brookside Ave) in Orange County, New York, zip code 10918, providing easy access and excellent visibility. Periodic rent increases will be negotiated separately. This is an ideal opportunity for businesses seeking a thriving location within a well-established shopping center. The property is classified as a traditional strip center with multiple tenancies.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Orange
    State
    New York
    Longitude
    -74.2684
    Latitude
    41.3511

    Comparable in this City

    • Value Estimation
      $680,000
      16,128 SF

      69 Brookside Ave

      SHOPPING CENTER, STRIP CENTER • 16,128 SF
      69 Brookside Ave, Chester, NY 10918-1302
      View Details
    • Value Estimation by Request
      10,000 SF

      7 Black Meadow Rd

      Retail properties & Spaces • 10,000 SF
      7 Black Meadow Rd, Chester, NY 10918
      View Details
    • Value Estimation by Request
      20,000 SF

      24 Carpenter Rd

      Life science properties • 20,000 SF
      24 Carpenter Rd, Chester, NY 10918
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    • Value Estimation by Request
      2,936 SF

      11 West Ave

      Office Units • 2,936 SF
      11 West Ave, Chester, NY 10918
      View Details
    • Value Estimation
      $7,785,000
      159,063 SF

      3924 Summerville Way

      MINI-MALL • 159,063 SF
      3924 Summerville Way, Chester, NY 10918-1826
      View Details
    • Value Estimation by Request
      2,400 SF

      1355 Kings Hwy

      SHOW ROOM, WAREHOUSE • 2,400 SF
      1355 Kings Hwy, Chester, NY 10918-3105
      View Details

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    • $799,000

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      Retail space available next to plaza with village utilities.
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    Similar Nearby for Lease

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      Downtown Chester Retail/Office Space

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      Unique Commercial Space in Blooming Grove

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      Office suite for lease with utilities and maintenance included.
      1108 Kings Highway Byp, Chester, NY 10918
      View Details
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    17M Brookside Ave
    Chester, NY 10918
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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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