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    Property profile & analytics

    196 Ramapo Rd Garnerville, NY 10923

    • Office buildings
    • 1,885 SF
    • 0.47 lot acres
    For Sale
    View listing
    $589,000
    Last Sale
    Nov 20, 2024
    $499,000
    Value Estimations
    Cap Rate Potential
    8.9%
    Office buildings
    Location Intelligence
    Property ID
    US63-0521327
    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

    • Dr. Howard Gordon / Dentist
    • Dr. Michael Bang / Dentist
    • Dr. Marc Faber / Dentist / Endodontist
    • Dr. Allison Blech / Dentist
    • Dr. William Limongelli / Oral Surgeon

    Property Details for 196 Ramapo Rd

    Year built
    1979
    Lot size
    0.47 lot acres
    Property size
    1,885 SF
    Zone code
    361
    Property type
    Office buildings
    APN
    392203 26.11-1-3
    APU
    392203261113

    Description

    This 1,885 square foot office building at 196 Ramapo Rd, West Haverstraw, NY 10923, is offered for sale at $499,000 ($264.72/SF). Built in 1998, this single-story building sits on a 0.47-acre lot and is zoned R3, permitting multi-family use. However, the property's history includes use as medical offices. The building currently presents as a shell space, allowing for complete customization to suit a variety of uses. Twenty parking spaces are available on-site, providing ample parking for staff and clients. Its prime location offers high visibility and excellent access, making it particularly well-suited for medical practices, including urgent care facilities, given the thriving local community and high demand for healthcare services. Detailed plans are available upon request. This represents a unique opportunity to acquire a versatile commercial property in a desirable location. The property's high visibility and ample parking make it an attractive option for a variety of businesses seeking a prominent presence in a busy area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $640,000
      ML approach
      $630,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $585,000
      6.5%
      $540,000
      7%
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $560,000
      Market price range: $140k - $560k

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

    Location Insight

    • Map
    • Local Demand
    City
    Garnerville
    County
    Rockland
    State
    New York
    Longitude
    -73.9873
    Latitude
    41.2007
    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
    $220,500
    $43,100
    $263,600
    -
    $359,765
    $70,321
    $430,086

    Comparable in this City

    • Value Estimation
      $650,000
      11,674 SF

      1 Rosman Rd

      OFFICE BUILDING • 11,674 SF
      1 Rosman Rd, Garnerville, NY 10923-1742
      View Details
    • Value Estimation by Request
      3,717 SF

      81 Ramapo Rd

      OFFICE BUILDING • 3,717 SF
      81 Ramapo Rd, Garnerville, NY 10923-2132
      View Details
    • Value Estimation
      $335,000
      1,368 SF

      5 Railroad Ave

      OFFICE BUILDING • 1,368 SF
      5 Railroad Ave, Garnerville, NY 10923-1216
      View Details
    • Value Estimation
      $510,000
      5,426 SF

      55 Ramapo Rd

      OFFICE BUILDING • 5,426 SF
      55 Ramapo Rd, Garnerville, NY 10923-7539
      View Details
    • Value Estimation
      $1,120,000
      2,184 SF

      65 Ramapo Rd

      OFFICE BUILDING • 2,184 SF
      65 Ramapo Rd, Garnerville, NY 10923-2023
      View Details
    • Value Estimation
      $580,000
      8,600 SF

      171 Ramapo Rd

      PROFESSIONAL BUILDING • 8,600 SF
      171 Ramapo Rd, Garnerville, NY 10923-1552
      View Details

    Similar Nearby for Sale

    • $950,000

      Renovated Mixed-Use Building For Sale

      Fully renovated mixed-use building with commercial and residential income potential.
      11 Ramapo Rd, Garnerville, NY 10923
      View Details
    • $589,000
      1,885 SF

      196 Ramapo Rd, Garnerville, NY 10923

      Office Properties & Spaces • 1,885 SF
      196 Ramapo Rd, Garnerville, NY 10923
      View Details
    • $850,000
      Pending

      Six-Family Building Near Highways

      Six-family building with parking and yard space near major highways.
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      View Details
    • $480,000
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      Garnerville Triplex with Shared Yard

      Well-maintained triplex near shopping, roadways, and parks.
      21 Bridge St, Garnerville, NY 10923
      View Details
    • New
      $619,000
      0.12 Acres

      Haverstraw Two-Unit Investment Opportunity

      Two-unit property with updated kitchens, bathrooms, and private yards.
      78 Church St, Garnerville, NY 10923
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    • $119,000

      One-Bedroom Duplex Co-op Townhouse

      One-bedroom duplex co-op townhouse in quiet Banbury Square.
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    Similar Nearby for Lease

    • $3,500 /Mo

      Turnkey Medical Office Space

      High-visibility medical office with equipped exam rooms and parking.
      2 Suffern Ln, Garnerville, NY 10923
      View Details
    • $18 SF/Yr

      Retail Space in Garnerville Plaza

      High-visibility retail space in a busy shopping center.
      77-81 N Central Hwy, Garnerville, NY 10923
      View Details
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    196 Ramapo Rd
    Garnerville, NY 10923
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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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