Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    118-120 Rt 59 Airmont, NY 10952
    Back to Search
    Property profile & analytics

    118-120 Rt 59, Airmont, NY 10952

    View on Map
    • Investment properties
    • 3,168 SF
    • 0.35 lot acres
    Off-Market
    Last Sale Aug 24, 2022
    $10,600,000
    Property ID
    US63-3757628
    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.
    Value Estimations
    $12,470,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 118-120 Rt 59

    Year built
    1970
    Lot size
    0.35 lot acres
    Zone code
    MU1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    392689 56.15-2-26
    APU
    3926895615226

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 24, 2022 $10,600,000 Route 59 Property LLC Saddle River Development LLC Bargain And Sale Deed —
    Mar 5, 2018 $1,575,000 Yk Route 59 LLC Mandarin Group Holdings LLC Grant Deed $800k · Apple Cap
    Sep 6, 2017 $1,015,000 Mandarin Group Holdings LLC Hatzlocho Mishomaim LLC Grant Deed $852k · Keybank USA
    — — Hatzlocho Mishomaim LLC — Deed Of Trust · related $160k · Greenpoint Mortgage Funding

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,100,000
      ML approach
      $13,585,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Airmont
    County
    Rockland
    State
    New York
    Longitude
    -74.0705
    Latitude
    41.1075
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    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
    0
    $0.00
    $63,100
    $39,800
    $102,900
    -
    $63,100
    $39,800
    $102,900

    Comparable in this City

    • Value Estimation
      $510,000
      2,925 SF

      37-A Main St Rte

      OFFICE/RESIDENTIAL (MIXED USE)
      37-A Main St Rte, Monsey, NY 10952
      View Details
    • Value Estimation
      $605,000
      4,176 SF

      14 Bartlett Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      14 Bartlett Rd, Monsey, NY 10952-1707
      View Details
    • Value Estimation
      $995,000
      2,883 SF

      18-20 Forshay Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      18-20 Forshay Rd, Monsey, NY 10952
      View Details
    • Value Estimation by Request
      2,380 SF

      300 Rte 59

      OFFICE/RESIDENTIAL (MIXED USE)
      300 Rte 59, Monsey, NY 10952
      View Details
    • Value Estimation by Request
      2,523 SF

      93 College Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      93 College Rd, Monsey, NY 10952-2438
      View Details
    • Value Estimation
      $695,000
      4,654 SF

      10 Golar Dr

      OFFICE/RESIDENTIAL (MIXED USE)
      10 Golar Dr, Monsey, NY 10952-2845
      View Details

    Similar Nearby for Sale

    • $2,900,000
      5,000 SF

      Monsey Two-Family Home on Acreage

      Two-family home on 0.62 acres in Monsey, New York.
      49-51 Albert Dr, Monsey, NY 10952
      View Details
    • $859,000
      0.52 Acres

      Airmont Commercial Building with Expansion Potential

      Solid commercial building in Airmont with parking and expansion possibilities.
      33 Church Rd, Airmont, NY 10952
      View Details
    • $650,000
      Pending

      103-105 Bates Dr, Monsey, NY 10952

      Specialty properties
      103-105 Bates Dr, Monsey, NY 10952
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Monsey Retail Space on Route 59

      Retail space available on highly trafficked Route 59.
      421 Route 59, Monsey, NY 10952
      View Details
    • Contact for pricing

      Airmont Pad Site Opportunity

      Proposed 3,500 SF pad site on Route 59.
      320 Ny-59, Airmont, NY 10952
      View Details
    • Contact for pricing

      Monsey Retail Space on Route 59

      Built-out retail space on highly trafficked Route 59.
      419 Ny-59, Monsey, NY 10952
      View Details
    • Contact for pricing
      3,520 SF

      Monsey Retail Space on Route 59

      Prime retail space in Monsey with high traffic.
      414 Ny-59, Airmont, NY 10952
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    118-120 Rt 59
    Airmont, NY 10952
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    118-120 Rt 59, Airmont, NY, 10952
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!