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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    111 Sullivan Ave, Unit 1-7 Ferndale, NY 12734

    • Office buildings
    • 19,434 SF
    • 3.00 lot acres
    For Lease
    View listing
    $1,600 /Mo
    Last Sale
    Oct 06, 2022
    $1,262,500
    Value Estimations
    $1,180,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1973399
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Jeffrey S Altbach Law Offices / Service Establishment / General Practice Attorney
    • Middletown Medical PC / Medical Clinic
    • Samantha Garigliano / Physician Assistant
    • Excel Physical Therapy & Wellness / Physical Therapist / Physical Fitness Program
    • Lipton Ira D MD / Psychiatrist

    Property Details for 111 Sullivan Ave

    Year built
    1980
    Lot size
    3.00 lot acres
    Property size
    19,434 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    483601 126.-1-10
    APU
    483601126110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,120,000
      ML approach
      $1,230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,064,000
      Market price range: $922k - $2.46M
      AI Estimate
      $1,145,000
      Market price range: $895k - $2.42M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,420,000
      Current use
      RESTAURANT
      $1,960,000
      Change: +38% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,735,000
      Change: +22% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,540,000
      Change: +8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Sullivan
    State
    New York
    Longitude
    -74.7285
    Latitude
    41.7799

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $0.00
    $141,900
    $731,300
    $873,200
    -
    $287,480
    $1,481,564
    $1,769,044

    Comparable in this City

    • Value Estimation by Request
      4,500 SF

      461 Harris Rd

      OFFICE BUILDING • 4,500 SF
      461 Harris Rd, Ferndale, NY 12734-5132
      View Details
    • Value Estimation
      $790,000
      10,400 SF

      39 Old Monticello Rd

      PROFESSIONAL BUILDING • 10,400 SF
      39 Old Monticello Rd, Ferndale, NY 12734-5224
      View Details
    • Value Estimation by Request
      3,877 SF

      108 Sullivan Ave

      OFFICE BUILDING • 3,877 SF
      108 Sullivan Ave, Ferndale, NY 12734-4398
      View Details
    • Value Estimation
      $1,215,000
      9,543 SF

      1 Cablevision Ctr Rd

      OFFICE BUILDING • 9,543 SF
      1 Cablevision Ctr Rd, Ferndale, NY 12734-5313
      View Details
    • Value Estimation by Request
      3,150 SF

      1903 State Rte 52nd E

      OFFICE BUILDING • 3,150 SF
      1903 State Rte 52nd E, Ferndale, NY 12734
      View Details
    • Value Estimation by Request
      7,240 SF

      653 Harris Rd

      MEDICAL CLINIC • 7,240 SF
      653 Harris Rd, Ferndale, NY 12734-5142
      View Details

    Similar Nearby for Sale

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      Commercial Land Near Future I-86

      Nearly 6 acres of commercially zoned land with high visibility.
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    • $1,250,000
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      Development Land in Ferndale, NY

      12.55 acres of land suitable for various development projects.
      126 Devany Rd, Ferndale, NY 12734
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      Established Fish Hatchery with Acreage

      Licensed fish hatchery with 13.5 acres near Route 17.
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    • $1,200,000

      10 Acre Industrial Parcel

      10 acre parcel approved for 48,000 sqft industrial building.
      1283 Old Route 17, Harris, NY 12734
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    • $1,850,000
      12.55 Acres

      Ferndale NY Land: 12.55 Acres

      Prime Sullivan County development land
      126 Devany Rd, Ferndale, NY 12734
      View Details
    • $1,250,000
      12.00 Acres

      Development Land in Swan Lake

      12.55 acres in Swan Lake, Liberty/Ferndale with development potential.
      126 Devany Rd, Ferndale, NY 12734
      View Details

    Similar Nearby for Lease

    • $1,600 /Mo
      130,680 SF

      Professional Office Space in Ferndale

      First-floor suite ideal for medical, wellness, or professional office.
      111 Sullivan Ave, Ferndale, NY 12734
      View Details
    • $1,850 /Mo
      130,680 SF

      Professional Building in Ferndale, NY

      Two-story professional building with parking, elevator, and secure common areas.
      111 Sullivan Ave, Ferndale, NY 12734
      View Details
    • $2,400 /Mo

      Medical Office Space Available

      1930 sq ft medical office space for rent.
      39 Old Monticello Rd, Ferndale, NY 12734
      View Details
    • $6,100 /Mo
      130,680 SF

      Ferndale Professional Building Office Suite

      Professional office suite in Ferndale with high visibility and accessibility.
      111 Sullivan Ave, Ferndale, NY 12734
      View Details
    • $1,150 /Mo
      130,680 SF

      Professional Building in Ferndale-Liberty Market

      Two-story professional building with parking, elevator, and secure common areas.
      111 Sullivan Ave, Ferndale, NY 12734
      View Details
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    111 Sullivan Ave, Unit 1-7
    Ferndale, NY 12734
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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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