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    209-221 Ny-59 Suffern, NY 10901
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    209-221 Ny-59 Suffern, NY 10901

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    • Retail properties & Spaces
    • 6,724 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 209-221 Ny-59

    Year built
    1990
    Property size
    6,724 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This Class A medical office building, constructed in 1990, offers 6,724 square feet of space across multiple suites. Located at 209-221 NY-59 in Suffern, NY 10901, this property enjoys a high-traffic location at a busy intersection directly off the New York State Thruway (Exit 14B) and Airmont Road. The building boasts a strong tenant roster including established businesses such as Starbucks, Walgreens, and a high-end steakhouse. Two spaces are currently available, ranging from 2,724 to 4,000 square feet. These spaces are move-in ready, but the landlord is willing to provide a "vanilla box" condition upon demolition for suitable tenants. The property's prime location and established tenant base make it an excellent opportunity for medical professionals seeking a high-visibility space in a thriving commercial area. The building's excellent visibility and convenient access to the Thruway ensure high traffic and exposure for tenants. This is a rare opportunity to secure space in a well-established and highly sought-after commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Suffern
    County
    Rockland
    State
    New York
    Longitude
    -74.1134
    Latitude
    41.1118

    Comparable in this City

    • Value Estimation by Request
      34,300 SF

      130 Ny-59

      Coworking space • 34,300 SF
      130 Ny-59, Suffern, NY 10901
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    • Value Estimation
      $2,520,000
      111,476 SF

      200 Rella Blvd

      MEDICAL CLINIC • 111,476 SF
      200 Rella Blvd, Suffern, NY 10901-4245
      View Details
    • Value Estimation by Request
      7,056 SF

      235 Rte 59

      MEDICAL CLINIC • 7,056 SF
      235 Rte 59, Suffern, NY 10901-5203
      View Details
    • Value Estimation
      $1,300,000
      11.07 Acres

      250 Lafayette Ave

      MEDICAL CLINIC • 11.07 Acres
      250 Lafayette Ave, Suffern, NY 10901-4826
      View Details
    • Value Estimation
      $2,100,000
      77,593 SF

      30 Cragmere Rd

      MEDICAL CLINIC • 77,593 SF
      30 Cragmere Rd, Airmont, NY 10901-7520
      View Details
    • Value Estimation by Request
      1,616 SF

      301 Route 59

      Retail properties & Spaces • 1,616 SF
      301 Route 59, Suffern, NY 10901
      View Details

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    Suffern, NY 10901
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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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