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    2 Stowe Rd Peekskill, NY 10566
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    2 Stowe Rd, Peekskill, NY 10566

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    • Office Spaces
    • 960 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sancor Lighting, Inc. / Electrical Service / General Contractor
    • Highland professional building / Medical Clinic
    • Taubkin Stewart M DDS / Dental Office
    • Just The Place | Creative Arts Center & Dance Studio / Training Center

    Property Details for 2 Stowe Rd

    Year built
    1985
    Property type
    Office Spaces

    Description

    This 960-square-foot office suite, located at 2 Stowe Rd Unit 15 in Peekskill, NY, presents a fantastic opportunity for business or medical professionals. Situated in the desirable Highlands Professional Building, this property enjoys a convenient location near New York Presbyterian Hospital, Beech Shopping Center, downtown Peekskill, and the Bear Mountain Parkway, with easy access to major roadways. The suite itself features a waiting room, three offices or exam rooms (ideal for medical practices), a half bath, a break room, and storage space. Currently used for storage, the space is ready for immediate occupancy and customization to suit your specific needs. Ample parking is available on-site, and the building's convenient location offers proximity to public transportation and various shopping options. Heat and hot water are included in the common charges, totaling $735. This is an exceptional opportunity to own, rather than rent, in a highly sought-after location. Note that Suite 13 in the same building is also available for purchase, and there's a possibility of combining Suite 13 and Suite 15 – inquire for details regarding this option. The asking price for this turnkey office space is $92,500.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Peekskill
    County
    Westchester County
    State
    New York
    Longitude
    -73.8929
    Latitude
    41.2977

    Comparable in this City

    • Value Estimation by Request
      2,075 SF

      2 Stowe Rd

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      2 Stowe Rd, Peekskill, NY 10566
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    • Value Estimation by Request
      9.66 Acres

      11 Corporate Dr

      OFFICE BUILDING
      11 Corporate Dr, Peekskill, NY 10566-1846
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    • Value Estimation by Request
      0.16 Acres

      1008 Main St

      OFFICE BUILDING
      1008 Main St, Peekskill, NY 10566-2963
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    • Value Estimation by Request
      0.30 Acres

      1053 Park St

      RADIO OR TV STATION
      1053 Park St, Peekskill, NY 10566-3803
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    • Value Estimation by Request
      5.10 Acres

      1022 Lowr S St

      OFFICE BUILDING
      1022 Lowr S St, Peekskill, NY 10566-5313
      View Details
    • Value Estimation
      $3,650,000
      0.24 Acres

      418 Division St

      OFFICE BUILDING
      418 Division St, Peekskill, NY 10566
      View Details

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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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