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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    510 Rte 304 New City, NY 10956-3041

    • Office buildings
    • 9,248 SF
    • 0.86 lot acres
    OFF-MARKET
    Last Sale
    Aug 03, 2023
    $1,750,000
    Value Estimations
    $2,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4234664
    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

    • Office buildings

    Property Details for 510 Rte 304

    Year built
    1978
    Lot size
    0.86 lot acres
    Property size
    9,248 SF
    Property type
    Office buildings
    APN
    392089 51.15-1-1
    APU
    392089511511

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,705,000
      ML approach
      $2,660,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,958,000
      Market price range: $2.80M - $6.69M

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

    Location Insight

    • Map
    • Local Demand
    City
    New City
    County
    Rockland
    State
    New York
    Longitude
    -73.9911
    Latitude
    41.1296
    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
    $51,600
    $262,900
    $314,500
    -
    $98,442
    $501,558
    $600,000

    Comparable in this City

    • Value Estimation
      $1,080,000
      3,024 SF

      230 Congers Rd

      PROFESSIONAL BUILDING • 3,024 SF
      230 Congers Rd, New City, NY 10956-6256
      View Details
    • Value Estimation
      $735,000
      2,400 SF

      21 1st St

      OFFICE BUILDING • 2,400 SF
      21 1st St, New City, NY 10956-5028
      View Details
    • Value Estimation
      $560,000
      1,260 SF

      331 Main St

      OFFICE BUILDING • 1,260 SF
      331 Main St, New City, NY 10956-4307
      View Details
    • Value Estimation
      $860,000
      2,843 SF

      49 Maple Ave

      OFFICE BUILDING • 2,843 SF
      49 Maple Ave, New City, NY 10956-5014
      View Details
    • Value Estimation
      $550,000
      1,600 SF

      500 New Hempstead Rd

      PROFESSIONAL BUILDING • 1,600 SF
      500 New Hempstead Rd, New City, NY 10956-1132
      View Details
    • Value Estimation
      $510,000
      1,392 SF

      140 Park Ave

      OFFICE BUILDING • 1,392 SF
      140 Park Ave, New City, NY 10956-5025
      View Details

    Similar Nearby for Sale

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    • New
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      Route 304 Professional Office Opportunity

      Versatile property suitable for professional or commercial use.
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    • $2,100,000

      Turn-Key Retail/Office Space Available

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      New City Office Condo

      Move-in-ready office condo in the heart of New City.
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    • $1,349,000
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      New City Commercial Space Available

      Commercial space suitable for offices, care facilities, and more.
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      Commercial space in downtown New City suitable for various uses.
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    Similar Nearby for Lease

    • $3,500 /Mo
      1,000 SF

      Renovated Office Space in New City

      High-end, renovated office space with modern amenities for rent.
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      View Details
    • $24 SF/Yr
      2,400 SF

      Prime Executive Office Space, New City

      Modern Office Suites, Route 304, Rockland County
      470 Ny-304, New City, NY 10956
      View Details
    • $25 SF/Yr

      Prime Office Space on Main

      Raw office space with customization potential in vibrant location.
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      View Details
    • $1,300 /Mo

      Bright Office Space For Rent

      Office space available in New City with ample natural light.
      265 S Little Tor Rd, New City, NY 10956
      View Details
    • $25 SF/Yr

      Prime Office Space on Main

      Raw commercial office space near shops and restaurants for rent.
      345 N Main St, New City, NY 10956
      View Details
    • $6,000 /Mo
      4,000 SF

      New City Office Space Available

      Office space for rent in a convenient New City location.
      120-126 N Main St, New City, NY 10956
      View Details
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    510 Rte 304
    New City, NY 10956-3041
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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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