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    97 Windermere Ave Greenwood Lake, NY 10925-2109
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    Property profile & analytics

    97 Windermere Ave Greenwood Lake, NY 10925-2109

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    • Investment properties
    • 1,470 SF
    • 0.27 lot acres
    Off-Market
    Last Sale Aug 1, 2024
    $185,000
    Property ID
    US63-1603156
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 97 Windermere Ave

    Year built
    1960
    Lot size
    0.27 lot acres
    Property size
    1,470 SF
    Zone code
    400
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    335403 308-2-18
    APU
    335403308218

    Description

    This beautifully renovated 2,940 square foot storefront at 97 Windermere Avenue in Greenwood Lake, NY, presents a unique investment opportunity. Built in 1960 and extensively renovated in 2019, this Class B property boasts a desirable location on a main thoroughfare with an average daily traffic count of 3,510 vehicles. The 0.24-acre lot offers ample off-street parking for 20 vehicles – a rare find in this area. The Central Shopping (CS) zoning permits a wide range of uses, including retail, banking, personal services, food and beverage establishments, laundry/dry cleaning, and fitness studios. Previously used as an art gallery and jazz venue, the space features upgraded lighting and sound systems, hardwood floors, custom beams, two restrooms, and new ductless heating and air conditioning. The main level encompasses approximately 1,560 square feet, complemented by a full basement and a roughly 500 square foot loft. This exceptional property is situated in a vibrant, year-round destination community, close to New Jersey, offering easy access to numerous attractions including apple orchards, wineries, breweries, ski slopes, and restaurants. The asking price is $559,000, translating to $190.14 per square foot. The property is currently vacant and comprises one unit within a single building. This is a must-see opportunity for discerning investors seeking a high-quality space in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood Lake
    County
    Orange
    State
    New York
    Longitude
    -74.2929
    Latitude
    41.2245
    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
    $0.00
    $20,000
    $10,000
    $30,000
    -
    $216,200
    $108,100
    $324,300

    Comparable in this City

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      1,211 SF

      718 Jersey Ave

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      1,268 SF

      1197 State Rte 17a

      STORE/OFFICE (MIXED USE) • 1,268 SF
      1197 State Rte 17a, Greenwood Lake, NY 10925-2258
      View Details
    • Value Estimation by Request
      2,479 SF

      87 Windermere Ave

      STORE/OFFICE (MIXED USE) • 2,479 SF
      87 Windermere Ave, Greenwood Lake, NY 10925-2108
      View Details
    • Value Estimation
      $670,000
      5,760 SF

      140 Windermere Ave

      STORE/OFFICE (MIXED USE) • 5,760 SF
      140 Windermere Ave, Greenwood Lake, NY 10925-2218
      View Details
    • Value Estimation
      $745,000
      4,711 SF

      85 Windermere Ave

      STORE/OFFICE (MIXED USE) • 4,711 SF
      85 Windermere Ave, Greenwood Lake, NY 10925-2108
      View Details
    • Value Estimation by Request
      2,232 SF

      18 Elm St

      STORE/OFFICE (MIXED USE) • 2,232 SF
      18 Elm St, Greenwood Lake, NY 10925-2611
      View Details

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    • $895,000

      Mixed-Use Property in Greenwood Lake

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    • Contact for pricing

      Greenwood Lake Multifamily Investment Opportunity

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    Greenwood Lake, NY 10925-2109
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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.

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