Retail Park with Pavilion Outdoor
For Sale
$1,600,000
3603-3611 Main Street, Stone Ridge, NY 12484
COMMERCIAL - Stone Ridge, NY
Property Size7,028 SF
Lot Size1.60 Acres
Price / SF$227.66
Days on Market305
Property Features for 3603-3611 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-1, R-3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Exterior features
Dock
Fencing
Perimeter, Fenced
Accessibility
Accessible Approach with Ramp
Appliances
Water Heater, Range Hood, Exhaust Fan, Electric Water Heater
Lot features
Gentle Sloping, Landscaped
Elementary school district
Rondout Valley Schools
Middle school district
Rondout Valley Schools
High school district
Rondout Valley Schools
Directions
Interstate 87/NY State Thruway Kingston Exit 19; Route 28W; Route 209S approximately 9 miles; property on left
Subdivision
Marbletown
Standard status
Active
APN
61.12
Size
7,028 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Annual Amount
12492
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Propane (Heating), Hot Water(Heating)
Water source
Public
Amenities
groomed, fenced outdoor common area with pavilion
Building Details
Year built
1930
Flooring type
Combination, Hardwood, Concrete, Tile
Building materials
Frame
Additional Structures
Outdoor Kitchen
Listing Agency:
Halter Associates Realty
(845) 679-2010
Listed By:
Peter Cantine · License #10401312264
(845) 532-7119
Added: Oct 9, 2025
Changed: Aug 8
Last Checked: Aug 9 at 6:06PM
MLS# 20254973
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.
A retail park on Main Street (US Highway 209) featuring a former meat company two-story retail/office building, along with a three-bedroom, one-bath home that can support commercial operations and/or serve as a residence. The property includes a groomed, fenced outdoor common area with a pavilion and 28 parking spaces, supported by frame construction with hot water heat and propane. Interiors include a mix of flooring types and a range of listed appliances, including water heater, range hood, and exhaust fan.
The property is zoned B-1, R-3 and offers accessible approach with a ramp. Exterior features include a dock, with perimeter fencing and accessibility accommodations. Utilities include cable available, with public water and a septic tank system.
Adjacent to the site, the Picard Building also provides retail space, including a professional restaurant kitchen on the ground level and four office suites on the second floor above. The circa 1930 home may be used as support space and/or residence, and the contents, including new but never-used equipment, are negotiable.
The property is zoned B-1, R-3 and offers accessible approach with a ramp. Exterior features include a dock, with perimeter fencing and accessibility accommodations. Utilities include cable available, with public water and a septic tank system.
Adjacent to the site, the Picard Building also provides retail space, including a professional restaurant kitchen on the ground level and four office suites on the second floor above. The circa 1930 home may be used as support space and/or residence, and the contents, including new but never-used equipment, are negotiable.
Key Highlights
- Two‑story retail/office building plus three‑bedroom, one‑bath home on 1.6 acres
- Fenced outdoor common area with pavilion and groomed grounds
- 28 parking spaces
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
$138,047
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
8.63%
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%
$2,760,940
$2.8M
Cap Rate 7%
$1,972,100
$2.0M
Cap Rate 9%
$1,533,856
$1.5M
Market Conditions
NOI Build-Up for 7,028 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
$210.8K $30.00/SF
− Vacancy
−$26.8K −$3.81/SF
EGI
$184.1K $26.19/SF
− OpEx
−$46.0K −$6.55/SF
NOI
$138.0K $19.64/SF
Area
Ulster County, NY
Vacancy
12.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,760,940
Cap Rate 7%
$1,972,100
Cap Rate 9%
$1,533,856
Alternative Uses
Best Use
Office B
$1.97M
$1.73M – $2.30M
NOI $138,047 @ 7.0% cap · market cap 8.63%
Second Best
Specialty Retail
$1.30M
$1.14M – $1.51M
NOI $90,893 @ 7.0% cap · market cap 5.68%
Theoretical Best
Multifamily LT 5
$65.72M
$57.51M – $76.68M
NOI $4,600,693 @ 7.0% cap · market cap 287.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Two-story retail and office building plus fenced outdoor common area with pavilion on Main St near US Highway 209.
Where is this shopping center located?
The property is located at 3603-3611 Main Street Stone Ridge, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two‑story retail/office building plus three‑bedroom, one‑bath home on 1.6 acres; Fenced outdoor common area with pavilion and groomed grounds; 28 parking spaces
