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    Property profile & analytics

    41 Elkay Dr Chester, NY 10918

    • Warehouses
    • 11,200 SF
    • 2.50 lot acres
    For Lease
    View listing
    $5,900 /Mo
    Value Estimations
    $310,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1619276
    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

    • Quinta Groupe / Distribution Service

    Property Details for 41 Elkay Dr

    Year built
    1998
    Lot size
    2.50 lot acres
    Property size
    11,200 SF
    Zone code
    IP
    Property type
    Warehouses
    APN
    332289 6-1-69.5
    APU
    33228961695

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $314,000
      Market price range: $257k - $858k

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

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Orange
    State
    New York
    Longitude
    -74.279
    Latitude
    41.3414
    CBSA code
    39100
    CBSA name
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 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
    2021
    $6,503
    $97,500
    $220,500
    $318,000
    -
    $237,802
    $537,798
    $775,600

    Comparable in this City

    • Value Estimation
      $1,125,000
      878,010 SF

      47 Elizabeth Dr

      WAREHOUSE, STORAGE • 878,010 SF
      47 Elizabeth Dr, Chester, NY 10918-1367
      View Details
    • Value Estimation
      $1,345,000
      8,000 SF

      1108 Kings Hwy

      WAREHOUSE, STORAGE • 8,000 SF
      1108 Kings Hwy, Chester, NY 10918-3139
      View Details
    • Value Estimation
      $285,000
      4,000 SF

      63 Black Mdw Rd

      WAREHOUSE, STORAGE • 4,000 SF
      63 Black Mdw Rd, Chester, NY 10918-2219
      View Details
    • Value Estimation
      $790,000
      22,500 SF

      37 Elkay Dr

      WAREHOUSE, STORAGE • 22,500 SF
      37 Elkay Dr, Chester, NY 10918-3028
      View Details
    • Value Estimation
      $375,000
      17,400 SF

      1144 Kings Hwy

      WAREHOUSE, STORAGE • 17,400 SF
      1144 Kings Hwy, Chester, NY 10918
      View Details
    • Value Estimation
      $50,000
      1,240 SF

      34 Mdw Ave

      WAREHOUSE, STORAGE • 1,240 SF
      34 Mdw Ave, Chester, NY 10918-1211
      View Details

    Similar Nearby for Sale

    • $28,000,000
      270,000 SF

      Industrial Building For Sale

      Industrial Building For Sale
      25 Oakland Avenue, Chester, NY 10918
      View Details
    • Contact for pricing
      170.00 Acres

      Prime Industrial Land in Chester, NY

      170-200 Acres, Rail Access, Motivated Seller
      14 Johnson Rd, Chester, NY 10918
      View Details
    • $1,000,000
      7,493 SF

      walking distance to the Heritage Trail

      as well as many businesses in this up and coming historic downtown area. TERRIFIC MIXED-USE INCOME PRODUCER (potential rent roll of close to $10
      1 Winkler Pl, Chester, NY 10918
      View Details
    • $799,000
      3.50 Acres

      Chester Commercial Land - Prime Location

      3.5-acre commercial lot near ShopRite.
      148 Brookside Ave, Chester, NY 10918
      View Details
    • $199,000
      Pending

      Buildable Lot in Desirable Location

      Serene 1.85 acre lot perfect for building a dream home.
      Renies Rd, Monroe, NY 10918
      View Details
    • $499,000
      4.50 Acres

      Unapproved Subdivision Land in Chester

      4.5 acre land for subdivision, unapproved, buyer must finish.
      1414 Kings Highway Byp, Chester, NY 10918
      View Details

    Similar Nearby for Lease

    • $5,900 /Mo

      Warehouse Space Near Highway

      Climate-controlled warehouse space ideal for storage or light distribution.
      41 Elkay Dr, Chester, NY 10918
      View Details
    • $10 SF/Yr
      418,176 SF

      Warehouse Space Short-Term Lease

      10,000 SF warehouse space available for short-term lease in Chester.
      173 Black Meadow Rd, Chester, NY 10918
      View Details
    • $11 SF/Yr
      17,605 SF

      Versatile Commercial Building with Lab

      Class B building with lab, office, and basement spaces.
      74 Brookside Ave, Chester, NY 10918
      View Details
    • $3,500 /Mo
      6,324 SF

      New Commercial Units in Chester

      Two commercial units available in a vibrant, walkable village location.
      7 Greycourt Ave, Chester, NY 10918
      View Details
    • $1,900 /Mo
      34,322 SF

      Remodeled Office Space in Chester

      Recently remodeled office space with off-street parking in Chester, NY.
      148 Main St, Chester, NY 10918
      View Details
    • $675 /Mo

      Chester Office Suite For Lease

      One-room office suite in Chester with ample parking.
      1108 Kings Highway Byp, Chester, NY 10918
      View Details
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    41 Elkay Dr
    Chester, NY 10918
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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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