7 Elmwood DrNew City, NY 10956

Property Details for 7 Elmwood Dr

Year built

1970

Lot size

0.53 AC

Property size (Sq ft)

15,264 SF

Zone code

PO

Property type

Office properties

Property subtype

Office buildings

APN

392089 43.15-2-18

APU

3920894315218

Description

This exceptional investment opportunity presents a fully occupied, two-building executive office complex in desirable New City, NY. The property consists of 13,000 square feet across three stories, encompassing twelve units spread across 7 Elmwood Dr. and 8 Horseshoe Dr. Both buildings boast 100% occupancy, generating a substantial net operating income (NOI) of $170,000 and a compelling 6.80% capitalization rate. The asking price is $2,500,000. Conveniently located near the courthouse and Main Street, the property features an elevator and ample parking. The 0.53-acre lot is zoned PO, providing flexibility for future development. This multi-tenant, gross lease property offers a stable and reliable income stream, making it an ideal addition to any commercial real estate portfolio. The property's prime location and strong tenant base ensure a secure and profitable investment. The included APN is 392089-043-015-0002-018-000-0000. This is a turnkey investment ready for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,523,595

  6.5%

  $2,329,472

  7%

  $2,163,082

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,994,394

  Geo Method

  $1,994,394

• Alternative Use

  Use

  Valuation

  Residential

  $2,888,546

  Hospitality

  $2,645,892

  Educational

  $2,201,352

  Medical

  $2,277,059

  Retail

  $3,424,324

Location Insight

City

New City

County

Rockland

State

New York

Latitude

41.1476

Longitude

-73.9857

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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