Building Details

Year built 1984

Flooring type Concrete

Building materials Block, Frame, Wood Siding

Roof type Asphalt, Shingle

Listing Agency: Howard Hanna Rand Realty j***@randrealty.com Show Phone

Listed By: Edwin Maldonado Show Phone

Added: Aug 3 Changed: Sep 13 Last Checked: Sep 15 at 4:06PM

Report an Issue

MLS# 20264429

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.

This 1,172-square-foot commercial building combines block and frame construction with wood siding, concrete flooring, and a shingle and asphalt roof. Built in 1984, the property is configured for light-industrial use and includes three drive-in doors: two at the front measuring 8 feet and 10 feet, plus a 9-foot side door. The half-acre parcel provides a practical setting for commercial storage, service operations, or vehicle-related use supported by the building’s access features.

The property is located at 37 Beesmer Road in Hurley, NY 12443, within Ulster County. Kingston, Woodstock, and the NYS Thruway are each stated to be within 10 minutes. Cable is available at the property, and the zoning is identified as Light Industrial (I1).

Key Highlights

• 1,172‑square‑foot building on a 0.5‑acre parcel
• Light Industrial (I1) zoning
• Three drive‑in doors: 8‑foot, 10‑foot, and 9‑foot

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

$18,375

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

7.35%

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%

$367,500 $367.5K

Cap Rate 7%

$262,500 $262.5K

Cap Rate 9%

$204,167 $204.2K

Market Conditions

NOI Build-Up for 1,172 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

$35.2K $30.00/SF

− Vacancy

−$6.9K −$5.88/SF

EGI

$28.3K $24.12/SF

− OpEx

−$9.9K −$8.44/SF

NOI

$18.4K $15.68/SF

Area

Ulster County, NY

Vacancy

19.60%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

35.00%

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%

$367,500

Cap Rate 7%

$262,500

Cap Rate 9%

$204,167

Alternative Uses

Best Use

Flex RnD

$262.5K

$229.7K – $306.3K (±1% cap)

NOI $18,375 @ 7.0% cap · market cap 7.35%

Second Best

Warehouse

$135.4K

$118.5K – $157.9K (±1% cap)

NOI $9,476 @ 7.0% cap · market cap 3.79%

Theoretical Best

Multifamily LT 5

$10.96M

$9.59M – $12.79M (±1% cap)

NOI $767,219 @ 7.0% cap · market cap 307.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Auto Repair Shop Plumbing Service Auto Parts Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

82

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12443, NY

3,868

Population

1,772

Households

2.2

Avg Household Size

48

Median Age

48%

College-Educated

95%

High-School Grad

16.5 sq mi

ZIP Area

234

Density / Sq Mi

$97,981

Median Household Income

$61,351

Median Earnings

$1,183

Median Rent

$325,400

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Compact commercial building with drive-in access, concrete flooring, and flexible light-industrial utility.

Where is this flex space located?

The property is located at 37 Beesmer Road Hurley, NY.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: 1,172‑square‑foot building on a 0.5‑acre parcel; Light Industrial (I1) zoning; Three drive‑in doors: 8‑foot, 10‑foot, and 9‑foot