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Property profile & analytics
FOR LEASE
Office buildings
21 Laurel Ave, Cornwall, NY 12518
Entity Owned
~
Est. High Equity
Property ID
US63-2874072
For Lease
1 / 28
$18 SF/Yr
21 Laurel Ave, Cornwall, NY 12518
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2007
Total area
43,604 SF
Lot
11.1 ac (483,516 SF)
APN
332489 20-5-1.2-2
UPID
US63-2874072
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
-
Fugo Jonathan R DO Physician Medical Clinic
-
St. Luke’s Cornwall Medical Group Medical Group
-
Dr. Jeffrey Klein, MD Physician
-
Michael Sayegh MD Ophthalmologist
-
ENT Faculty Practice Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.98M
Comparable Approach
Comparable
$11.63M
Blend (final)
Blend
$10.23M
Owner & transaction history
Cornwall Medical Complex LLC
Cornwall Medical Complex LLC
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.4M
+61.8%
Retail stores
$9.0M
+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 Cornwall submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cornwall 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%
$12,970,000
6.5%
$11,975,000
7%
$11,120,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,295,000
Current use
RESTAURANT
$13,425,000
Change: +62% · Conversion: Moderate
RETAIL STORES
$8,995,000
Change: +8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,280,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$10.23M
Range $9.21M – $11.25M · ±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
$235 / 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
$5,243,200
Assessed 2023
Previous assessed
$5,243,200
+0.0% YoY
Assessed land
$214,900
Assessed improvement
$5,028,300
Land market value
$318,608
Improvement market value
$7,454,892
Total market value
$7,773,500
Applied tax rate
332,401.0000
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
For Lease
Year built
2007
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
43,604 SF
Lot
11.1 ac (483,516 SF)
APN
332489 20-5-1.2-2
UPID
US63-2874072
Jurisdiction
ORANGE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.3M
RESTAURANT
Est. value
$13.4M
RETAIL STORES
Est. value
$9.0M
AUTO REPAIR, GARAGE
Est. value
$7.3M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
2007
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
11.1 ac
Current owner
From public records · entity-resolved
Cornwall Medical Complex LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Cornwall Medical Complex LLC
—
Deed Of Trust
related
$12,750,000 · General Elec Cap
—
—
Orange County Indl Dev Agcy|st Lukes Cornwall Hosp
—
Loan Modification
related
$7,015,000 · Manufacturers & Traders Tr
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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