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98 Main ST Nyack, NY 10960
3,484 Sqft Lot
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Coming Soon
Purchase Type For Sale
MLS Listing ID 980396
Rental Info No
Year Built 1900
Annual Tax Amount $38,875
Lot Size 3,484 Sqft
Acres 0.08
Property Sub-Type Multi Family
Source onekey2
Property Description
Presenting a rare, fully stabilized mixed-use investment opportunity in the heart of the highly sought-after Village of Nyack. This prominent, south-facing 9,456 square foot asset is ideally positioned overlooking Nyack's vibrant and walkable downtown corridor—one of the Hudson River's most desirable retail and residential markets. Investment Highlights: 5-Unit Mixed-Use Property (4 residential + 1 retail); 100% occupied with Long Term Tenants delivering immediate, durable cash flow; Turnkey Asset - Little to No CapEx or Deferred Maintenance; 9,456sqft Building in Prime Downtown Nyack Location; Attractive - 6% In-Place Cap Rate; Upside to 6-7% through Rent Growth and Lease Optimization; Established Retail Tenant on 5-Year Lease (renewal interest); Residential Units on 12-month leases (Market to Market Opportunity); Diversified, Stable Rent Roll Across All Units; Rear Access, Parking + Full Basement; Steps from Riverfront, Parks, Transit and Downtown Core; Rare Offering - Not Sold in over 35 years; Located in a Supply-Constrained, High Demand Market.
The ground-floor retail space (~3,000 SF) is leased to an established commercial tenant with a strong operating history, currently operating under a 5-year lease with interest in extending, providing both stability and the opportunity to capture rental growth at renewal.
The property features a diversified and stable rent roll, including four residential units on 12-month leases, offering investors near-term flexibility to adjust rents to market and drive NOI growth. In-place rents are below market, providing a clear path to increasing NOI through upcoming lease renewals.
Above the retail space are four expansive loft-style residential units, each featuring high ceilings, oversized windows, hardwood floors, exposed brick, and classic architectural details, along with modern finishes including granite countertops, maple cabinetry, dishwashers, and in-unit washer/dryers—supporting strong tenant demand and retention.
The retail space includes rear access, dedicated parking, and a full basement, providing operational flexibility and long-term utility.
Located just steps from municipal parking, public transportation, the Hudson River waterfront, and Nyack's popular parks and trails, the property benefits from exceptional accessibility, foot traffic, and long-term desirability.
Opportunities of this caliber are exceedingly rare, with comparable mixed-use assets in Nyack rarely coming to market. This property has been held by the same ownership for over 35 years and has not been publicly offered during that time, underscoring its trophy status and generational ownership profile.
Offered at an attractive ~6% in-place cap rate, the asset provides a secure, low-risk yield in a supply-constrained market, with a clear pathway to increase returns into the 6%–7% range through: Commercial lease renewal at market rents; Residential rent optimization; Expense efficiencies and potential NNN structuring.
The ground-floor retail space (~3,000 SF) is leased to an established commercial tenant with a strong operating history, currently operating under a 5-year lease with interest in extending, providing both stability and the opportunity to capture rental growth at renewal.
The property features a diversified and stable rent roll, including four residential units on 12-month leases, offering investors near-term flexibility to adjust rents to market and drive NOI growth. In-place rents are below market, providing a clear path to increasing NOI through upcoming lease renewals.
Above the retail space are four expansive loft-style residential units, each featuring high ceilings, oversized windows, hardwood floors, exposed brick, and classic architectural details, along with modern finishes including granite countertops, maple cabinetry, dishwashers, and in-unit washer/dryers—supporting strong tenant demand and retention.
The retail space includes rear access, dedicated parking, and a full basement, providing operational flexibility and long-term utility.
Located just steps from municipal parking, public transportation, the Hudson River waterfront, and Nyack's popular parks and trails, the property benefits from exceptional accessibility, foot traffic, and long-term desirability.
Opportunities of this caliber are exceedingly rare, with comparable mixed-use assets in Nyack rarely coming to market. This property has been held by the same ownership for over 35 years and has not been publicly offered during that time, underscoring its trophy status and generational ownership profile.
Offered at an attractive ~6% in-place cap rate, the asset provides a secure, low-risk yield in a supply-constrained market, with a clear pathway to increase returns into the 6%–7% range through: Commercial lease renewal at market rents; Residential rent optimization; Expense efficiencies and potential NNN structuring.
Location
State NY
County Rockland County
Rooms
Basement Unfinished
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Flooring Hardwood
Fireplace No
Appliance Dryer, Oven, Refrigerator, Washer
Exterior
Parking Features Off Street
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Neighborhood, River, Water
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Upper Nyack
Middle Schools Nyack Middle School
High Schools Nyack
School District Nyack
Others
Special Listing Condition None
Listed by Ellis Sotheby's Intl Realty • Alex A Vursta
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