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    1505-1515 Ny-22 Brewster, NY 10509

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    1505-1515 Ny-22 Brewster, NY 10509

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    • Lifestyle centers
    • 165,485 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1505-1515 Ny-22

    Property size
    165,485 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity presents itself at Lakeview Shopping Center, a well-situated shopping center in Brewster, New York, within Putnam County. The property boasts a total of 165,485 square feet and comprises four suites. Currently, there are 12,160 square feet of vacant retail space available, offering flexible options for prospective tenants. Spaces range from a minimum of 1,335 square feet to a maximum contiguous space of 4,772 square feet, catering to a variety of business needs. The center enjoys a highly visible location on NY-22, benefiting from significant traffic flow traveling both north and south. This strategic positioning ensures high visibility and accessibility for businesses seeking a strong presence in this thriving community. The property's address is 1505-1515 NY-22, Brewster, NY 10509. This is an excellent chance to establish or expand your retail presence in a prime Putnam County location. The property is classified as a multi-tenant retail shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brewster
    County
    Putnam
    State
    New York
    Longitude
    -73.5783
    Latitude
    41.4208

    Comparable in this City

    • Value Estimation by Request
      27,600 SF

      2505 Carmel Ave

      Neighborhood centers • 27,600 SF
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    • Value Estimation by Request
      14,600 SF

      105 Independent Way, Unit 111

      SHOPPING CENTER, STRIP CENTER • 14,600 SF
      105 Independent Way, Brewster, NY 10509-2367
      View Details
    • Value Estimation by Request
      5,550 SF

      1012 Rte 22nd, Unit 1020

      SHOPPING CENTER, STRIP CENTER • 5,550 SF
      1012 Rte 22nd, Brewster, NY 10509-1540
      View Details
    • Value Estimation by Request
      18,744 SF

      979 Rte 22nd, Unit 989

      SHOPPING CENTER, STRIP CENTER • 18,744 SF
      979 Rte 22nd, Brewster, NY 10509-1584
      View Details
    • Value Estimation
      $3,570,000
      146,484 SF

      1505 Rte 22nd, Unit 1515

      SHOPPING CENTER, STRIP CENTER • 146,484 SF
      1505 Rte 22nd, Brewster, NY 10509-4009
      View Details
    • Value Estimation by Request
      22,356 SF

      991 Rte 22nd, Unit 999

      SHOPPING CENTER, STRIP CENTER • 22,356 SF
      991 Rte 22nd, Brewster, NY 10509-1526
      View Details

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      Retail Space in Regional Center

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      Retail Space Near Brewster Station

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      New Commercial Space on Main

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      New Retail/Office Building Available

      New retail/office building with high traffic and income demographics.
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      Retail and Office Space Available

      Retail and office spaces for rent with high visibility.
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    Brewster, NY 10509
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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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    1505-1515 Ny-22, Brewster, NY, 10509

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