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30-34 New St 7,495 SF 100% Leased Retail Building Nyack, NY 10960 $2,650,000 ($353.57/SF) 6.49% Cap Rate
INVESTMENT HIGHLIGHTS
- Primed for further multifamily conversion
- Plenty of on-site parking
- Terrific proximity to downtown Nyack
EXECUTIVE SUMMARY
Exceptional mixed-use investment in the heart of downtown Nyack. This ±7,400 SF DMU-2 zoned building is anchored by two established commercial tenants — a full-scale laundromat and a 27-year operating auto repair/body shop — both to be delivered with new NNN leases in place. The property also includes a separate ±0.07 acre parking parcel, enhancing both utility and long-term redevelopment potential.
The upper floors provide stable and value-add residential income. A 900 SF third-floor apartment is currently leased, generating immediate cash flow. In addition, the second floor has already been approved and zoned for two apartments (600 SF each), offering straightforward upside through conversion without further entitlement risk.
On a pro forma basis, the building is modeled at a gross income of $241,500 and NOI of $213,675, equating to an investor valuation range of $2.75M–$3.16M at market cap rates. With a strong operating foundation, built-in residential upside, and a prime downtown Nyack location, this property combines present stability with future growth.
The upper floors provide stable and value-add residential income. A 900 SF third-floor apartment is currently leased, generating immediate cash flow. In addition, the second floor has already been approved and zoned for two apartments (600 SF each), offering straightforward upside through conversion without further entitlement risk.
On a pro forma basis, the building is modeled at a gross income of $241,500 and NOI of $213,675, equating to an investor valuation range of $2.75M–$3.16M at market cap rates. With a strong operating foundation, built-in residential upside, and a prime downtown Nyack location, this property combines present stability with future growth.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,495 SF
Building Class
C
Year Built/Renovated
1987/2009
Price
$2,650,000
Price Per SF
$353.57
Cap Rate
6.49%
NOI
$172,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.32
Lot Size
0.13 AC
Zoning
C-1 - Neighborhood Commercial districts that allow for small-scale retail, restaurants, and services to serve the daily needs of a residential neighborhood.
Frontage
58’ on New St
AMENITIES
- Signage
- Tenant Controlled HVAC
- Air Conditioning
Walk Score®
Walker's Paradise (93)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 392403-066-030-0003-069-000-0000 | Improvements Assessment | $340,200 |
| Land Assessment | $42,900 | Total Assessment | $383,100 |
PROPERTY TAXES
Parcel Number
392403-066-030-0003-069-000-0000
Land Assessment
$42,900
Improvements Assessment
$340,200
Total Assessment
$383,100
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Presented by
ZORA REI
30-34 New St
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