Mixed-Use Property with Studio
For Sale
$1,200,000
3588 Main Street, Stone Ridge, NY 12484
Commercial Sale, Stone Ridge, NY
Property Size6,240 SF
Lot Size3.40 Acres
Price / SF$192.31
Days on Market335
Property Features for 3588 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bathroom 1, Basement, Bathroom 4, Bathroom 3, Bathroom 2
Exterior features
Rain Gutters
Basement
Full, Unfinished, Exterior Entry, Dirt Floor
Appliances
Washer, Refrigerator, Gas Range, Dryer
Lot features
Gentle Sloping, Irregular Lot, Landscaped
Elementary school district
Rondout Valley Schools
Middle school district
Rondout Valley Schools
High school district
Rondout Valley Schools
Directions
Route 209 to the center of town. Parking in rear.
Subdivision
Marbletown
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active
APN
3588
Size
6,240 SF
Lot size
3.40 Acres
Taxes and HOA fees
Tax Annual Amount
14944
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Propane (Heating), Heat Pump (Heating), Forced Air, Radiant Floor, Radiant, Varies by Unit (Heating)
Cooling system
Multi Units, Heat Pump, Ductless, Varies by Unit, Electric
Water source
Well
Building Details
Year built
1840
Floors in Building
2
Flooring type
Wood, Bamboo
Building materials
Frame, Wood Siding
Roof type
Asphalt, Metal
Listing Agency:
BHHS Nutshell Realty · Prudential Real Estate
(845) 687-2200
Listed By:
Laurel Sweeney
(845) 325-4431
Added: Oct 16, 2025
Changed: Sep 15
Last Checked: Sep 15 at 2:06PM
MLS# 20255119
Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1840, this 6,240-square-foot mixed-use property occupies 3.4 acres and combines commercial, creative, and residential components. The main building features vaulted ceilings, wood and bamboo flooring, stained-glass windows, two large studios, a retail-oriented entry area, and two commercial bathrooms, including one ADA-compliant restroom. The property is currently used for yoga and related programming.
A separate 1,300-square-foot circular Kiva includes radiant heat, professional sound, and a skylit dome. The property also includes a two-bedroom apartment with natural wood finishes, a wood-burning stove, and month-to-month occupancy. Additional site features include 54 parking spaces, landscaped grounds, outdoor gathering areas, and level rear acreage. B1 zoning, a well, septic tank, and propane service are documented for the property.
A separate 1,300-square-foot circular Kiva includes radiant heat, professional sound, and a skylit dome. The property also includes a two-bedroom apartment with natural wood finishes, a wood-burning stove, and month-to-month occupancy. Additional site features include 54 parking spaces, landscaped grounds, outdoor gathering areas, and level rear acreage. B1 zoning, a well, septic tank, and propane service are documented for the property.
Key Highlights
- 6,240‑square‑foot mixed‑use property on 3.4 acres
- Two expansive studios with vaulted ceilings, large windows, and wood flooring
- Separate 1,300‑square‑foot circular Kiva with radiant heat and professional sound
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,988
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,319,760
$1.3M
Cap Rate 7%
$942,686
$942.7K
Cap Rate 9%
$733,200
$733.2K
Market Conditions
NOI Build-Up for 6,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$112.3K $18.00/SF
− Vacancy
−$6.7K −$1.08/SF
EGI
$105.6K $16.92/SF
− OpEx
−$39.6K −$6.34/SF
NOI
$66.0K $10.58/SF
Area
Ulster County, NY
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,319,760
Cap Rate 7%
$942,686
Cap Rate 9%
$733,200
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,569 @ 7.0% cap · market cap 10.21%
Second Best
Mixed Use
$942.7K
$824.9K – $1.10M
NOI $65,988 @ 7.0% cap · market cap 5.50%
Theoretical Best
Multifamily LT 5
$58.35M
$51.06M – $68.08M
NOI $4,084,850 @ 7.0% cap · market cap 340.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 12484, NY
2,809
Population
1,479
Households
1.9
Avg Household Size
51
Median Age
63%
College-Educated
98%
High-School Grad
23.7 sq mi
ZIP Area
119
Density / Sq Mi
$116,023
Median Household Income
$51,958
Median Earnings
$1,367
Median Rent
$441,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B1-zoned property combines flexible studios, an apartment, and landscaped grounds for varied commercial and residential use.
Where is this mixed-use property located?
The property is located at 3588 Main Street Stone Ridge, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,240‑square‑foot mixed‑use property on 3.4 acres; Two expansive studios with vaulted ceilings, large windows, and wood flooring; Separate 1,300‑square‑foot circular Kiva with radiant heat and professional sound
