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Property profile & analytics
OFF-MARKET
Estimated value
$9,720,000
Office buildings
155 Crystal Run Rd, Middletown, NY 10941-4028
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US63-1507946
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2002
Total area
72,228 SF
Lot
9 ac (392,040 SF)
Zoning code
O/R
APN
335200 60-1-52.1
UPID
US63-1507946
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Heather Carpenter-Sarmiento PsyD Physician Medical Clinic
-
Michael Traub, MD Pediatrician Physician
-
Crystal Run Healthcare Middletown Medical Clinic
-
Dr. Bikramjit Singh, MD Physician
-
Yong Andy Ke, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.72M
Owner & transaction history
Spt Ivey 155 Crystal Run Mob L · 9 yrs held
Spt Ivey 155 Crystal Run Mob L
since 2017
7 recorded transactions
Zoning & alternative use
O/R · Middletown, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$14.9M
+8.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,745,000
Current use
RETAIL STORES
$14,905,000
Change: +8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$12,060,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,665,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$9.72M
Range $8.75M – $10.69M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$135 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Assessed value
$1,957,000
Assessed 2023
Previous assessed
$1,957,000
+0.0% YoY
Assessed land
$90,000
Assessed improvement
$1,867,000
Land market value
$620,692
Improvement market value
$12,875,908
Total market value
$13,496,600
Applied tax rate
333,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2002
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
3
Rooms
10
Bathrooms
1
Total area
72,228 SF
Lot
9 ac (392,040 SF)
Zoning code
O/R
APN
335200 60-1-52.1
UPID
US63-1507946
Jurisdiction
ORANGE
Zoning & alternative use
O/R · Middletown, NY
Zoning O/R · permitted uses
O/R · Middletown, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$13.7M
RETAIL STORES
Est. value
$14.9M
AUTO REPAIR, GARAGE
Est. value
$12.1M
COMMERCIAL (GENERAL)
Est. value
$11.7M
OFFICE BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Heating
NONE
Cooling
Yes
Stories
3
Buildings
1
Rooms
10
Bathrooms
1
Lot
9 ac
Current owner
From public records · entity-resolved
Spt Ivey 155 Crystal Run Mob L
Individual
Mailing address
1601 WASHINGTON AVE STE #800, MIAMI BEACH, FL 33139-3165
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2020
—
Spt Ivey 155 Crystal Run Mob L
—
Deed
related
$30,515,771 · Citi R/e Fndg INC
Jan 24, 2017
$36,148,533
Spt Ivey 155 Crystal Run Mob L
Ga Hc Reit II 155 Crystal Run
Grant Deed
$37,800,000 · Capital One NA
Jan 28, 2014
$263,000
Hc Reit Crystal Run Ga II
Crh Realty Vii LLC
Grant Deed
—
Aug 9, 2001
$1,221,630
Westage Medical Dev Vii Ll
Olori,john
Grant Deed
—
Aug 9, 2001
—
Westage Medical Development
—
Trustees Deed
related
$8,973,925 · Hudson United Bank
—
—
Spt Ivey 155 Crystal Run Mob L
—
Loan Modification
related
$30,515,771 · Citi R/e Fndg INC
—
—
Westage Medical Development
—
Deed Of Trust
related
$712,575 · Hudson United Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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