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Property profile & analytics
FOR SALE
Office buildings
7 Elmwood Dr, New City, NY 10956
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-2837213
For Sale
1 / 18
$2,300,000
7 Elmwood Dr, New City, NY 10956
View Listing →
Property summary
AI-generated overview
This exceptional investment opportunity presents a fully occupied, two-building executive office complex in desirable New City, NY. The property consists of 13,000 square feet across three stories, encompassing twelve units spread across 7 Elmwood Dr. and 8 Horseshoe Dr. Both buildings boast 100% occupancy, generating a substantial net operating income (NOI) of $170,000 and a compelling 6.80% capitalization rate. The asking price is $2,500,000. Conveniently located near the courthouse and Main Street, the property features an elevator and ample parking. The 0.53-acre lot is zoned PO, providing flexibility for future development. This multi-tenant, gross lease property offers a stable and reliable income stream, making it an ideal addition to any commercial real estate portfolio. The property's prime location and strong tenant base ensure a secure and profitable investment. The included APN is 392089-043-015-0002-018-000-0000. This is a turnkey investment ready for immediate income generation.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Total area
15,264 SF
Lot
0.53 ac (23,087 SF)
Zoning code
PO
APN
392089 43.15-2-18
UPID
US63-2837213
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
-
Dr. Alissa L. Hersh, MD Pediatrician Medical Clinic
-
Allergy Associates Medical Clinic
-
Auctus Risk Services Financial Advisor
-
North Carolina Recreational Therapy Association Association / Organization
-
Davis William J MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.62M
Blend (final)
Blend
$3.35M
Owner & transaction history
7 Elmwood Dr LLC · 6 yrs held
7 Elmwood Dr LLC
since 2019
4 recorded transactions
Zoning & alternative use
PO · New City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 New City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New City 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.35M
Range $3.01M – $3.68M · ±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
$219 / 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
Property tax & assessments
Assessed value
$359,300
Assessed 2023
Previous assessed
$359,300
+0.0% YoY
Assessed land
$59,400
Assessed improvement
$299,900
Land market value
$99,193
Improvement market value
$500,807
Total market value
$600,000
Applied tax rate
392,001.0000
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
OFFICE BUILDING
Status
For Sale
Year built
1970
Heating
NONE
Buildings
2
Stories
3
Total area
15,264 SF
Lot
0.53 ac (23,087 SF)
Zoning code
PO
APN
392089 43.15-2-18
UPID
US63-2837213
Jurisdiction
ROCKLAND
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
PO · New City, NY
Zoning PO · permitted uses
PO · New City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1970
Heating
NONE
Stories
3
Buildings
2
Lot
0.53 ac
Current owner
From public records · entity-resolved
7 Elmwood Dr LLC
Entity
Mailing address
7 ELMWOOD DR, NEW CITY, NY 10956-5136
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2022
—
7 Elmwood Drive LLC
—
Deed
related
$1,540,000 · Hudson Valley FCU
Aug 19, 2019
$1,350,000
7 Elmwood Dr LLC
7 Elmwood LLC
Bargain And Sale Deed
$1,600,000 · Finwise Bank
Aug 19, 2019
—
7 Elmwood LLC
New City Prof Grp Bldg INC
Correction Deed
related
—
Jan 24, 2018
$900,000
7 Elmwood LLC
New City Prof Group Building I
Grant Deed
$900,000 · Tepfer & Tepfer PC
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.
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