Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23 Wayne Ave Suffern, NY 10901-5419

    • Auto shops
    • 3,286 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Jun 16, 2021
    $1,200,000
    Value Estimations
    $1,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6004102
    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

    • Suffern Auto Service / Auto Repair Shop

    Property Details for 23 Wayne Ave

    Year built
    1970
    Lot size
    0.13 lot acres
    Property size
    3,286 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Auto shops
    APN
    392607 54.27-1-48
    APU
    3926075427148

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,016,000
      Market price range: $1.02M - $2.72M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,885,000
      Current use
      OFFICE BUILDING
      $1,700,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffern
    County
    Rockland
    State
    New York
    Longitude
    -74.1531
    Latitude
    41.1174
    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
    $18,000
    $55,000
    $73,000
    -
    $18,000
    $55,000
    $73,000

    Comparable in this City

    • Value Estimation by Request
      6,800 SF

      14 Hallett Pl

      AUTO REPAIR, GARAGE • 6,800 SF
      14 Hallett Pl, Suffern, NY 10901-5404
      View Details
    • Value Estimation by Request
      1,260 SF

      57 Rte 59

      AUTO REPAIR, GARAGE • 1,260 SF
      57 Rte 59, Suffern, NY 10901-4906
      View Details
    • Value Estimation by Request
      3,248 SF

      208 Orange Ave

      AUTO REPAIR, GARAGE • 3,248 SF
      208 Orange Ave, Suffern, NY 10901-6251
      View Details
    • Value Estimation by Request
      3,896 SF

      30 Washington Cir

      AUTO REPAIR, GARAGE • 3,896 SF
      30 Washington Cir, Suffern, NY 10901
      View Details
    • Value Estimation
      $515,000
      6,667 SF

      16 Wayne Ave

      AUTO REPAIR, GARAGE • 6,667 SF
      16 Wayne Ave, Suffern, NY 10901-5411
      View Details
    • Value Estimation by Request
      2.25 Acres

      22 De Baun Ave, Unit 32

      PARKING LOT • 2.25 Acres
      22 De Baun Ave, Airmont, NY 10901-5111
      View Details

    Similar Nearby for Sale

    • $600,000

      Downtown Suffern Commercial Building

      Commercial building in downtown Suffern with high visibility.
      41 Lafayette Ave, Suffern, NY 10901
      View Details
    • $1,400,000

      Corner Commercial Building For Sale

      Adaptable commercial property with high visibility and versatile potential.
      62 Lafayette Ave, Suffern, NY 10901
      View Details
    • $2,650,000

      Mixed-Use Building in Downtown Suffern

      Mixed-use building with residential and commercial units near transportation.
      47-55 Lafayette Ave, Suffern, NY 10901
      View Details
    • $975,000

      Mixed-Use Property with Parking

      Mixed-use property featuring commercial spaces, apartments, and private parking.
      24 Lafayette Ave, Suffern, NY 10901
      View Details
    • $9,750,000

      Suffern Mixed-Use Investment Opportunity

      Fully leased mixed-use building with residential, commercial, and live-work spaces.
      90-100 Orange Ave, Suffern, NY 10901
      View Details
    • $1,250,000

      Mixed-Use Property With Storefront

      Mixed-use property featuring apartments, storefront, and parking.
      33 Park Ave, Suffern, NY 10901
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr

      Suffern Retail/Office Space Available

      Renovated commercial space with high visibility in downtown Suffern.
      65 Lafayette Ave, Suffern, NY 10901
      View Details
    • $15 SF/Yr
      3,293 SF

      Suffern Retail/Showroom Opportunity

      Renovated retail and showroom space in Suffern, NY.
      92-96 Lafayette Ave, Suffern, NY 10901
      View Details
    • $7,500 /Mo

      Corner Commercial Space with Drive-Through

      Versatile commercial space with drive-through, ideal for various businesses.
      62 Lafayette Ave, Suffern, NY 10901
      View Details
    • $32 SF/Yr

      Ramapo Shopping Center Retail Space

      Retail space available in Ramapo Shopping Center with established tenants.
      250 Suffern Pl, Suffern, NY 10901
      View Details
    • $32 SF/Yr

      Retail Space in Ramapo Center

      4500 sq. ft. retail space in Ramapo Shopping Center.
      250 Suffern Pl, Suffern, NY 10901
      View Details
    • $24 SF/Yr

      Downtown Suffern Commercial Space Available

      1,200 SF commercial space in thriving downtown Suffern.
      36-46 Lafayette Ave, Suffern, NY 10901
      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.
    23 Wayne Ave
    Suffern, NY 10901-5419
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!