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    The Largest CRE Database in the US with Over 1 Million Listings

    37199 State Hwy 23 Roxbury, NY 12474

    Sponsored
    For Sale
    $525,000

    Multi-Unit - Roxbury, NY

    Property size:
    6,677 SF
    Lot size:
    0.55 Acres
    Days on Market:
    13
    Last Refresh:
    Feb 3 at 1:06 am

    Property Features for 37199 State Hwy 23

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Kitchen
    Bathrooms
    5
    APN
    124800-091.002-0003-018.000
    Parking features
    Garage
    Basement Y/N
    1
    Size
    6,677 SF
    Lot size
    0.55 Acres

    Utilities

    Heating system
    Baseboard, Electric (Heating), Forced Air, Propane (Heating)
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1960
    Year renovated
    1960
    Floors in Building
    2
    Flooring type
    Hardwood, Tile
    Building materials
    Vinyl Siding
    Roof type
    Flat, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Susan Miller

    WINDSTAR REALTY GROUP LLC

    Listing agent Susan Miller

    Listing date Jan 22, 2026

    MLS# 11403956 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renovated Income Property in Roxbury

    This income-producing property has been completely and tastefully renovated. The exterior features Hardie siding, stone, and timber accents. Situated on over half an acre, the property offers frontage on two State Highways with access from both and parking for over 15 vehicles. The building includes a residential section with three second-floor 2-bedroom apartments and a first-floor 1-bedroom unit. The residential units feature hardwood floors, new cabinetry, fixtures, appliances, energy star baseboard heat, and lighting. Common areas are enhanced with custom wainscotting, a new oak stairway, high-end vinyl plank flooring, and new lighting. The ground-level commercial space has been fully renovated with high-end vinyl plank floors, a propane fireplace with a floor-to-ceiling slate stone facade, a tongue-and-groove pine ceiling in the main area, and faux copper ceilings in the office area. The kitchen and bath have tiled floors. The commercial space is equipped with a new high-efficiency propane furnace. The property is currently occupied by tenants in both the residential and commercial spaces. The property size is 6677 square feet and the lot size is 0.55 acres.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Roxbury
    County
    State
    New York
    Longitude
    -74.494278
    Latitude
    42.362574

    Nearby Similar for Sale

    • $195,000
      1,600 SF

      Roxbury Two-Family Investment Property

      Two-unit property in Roxbury, each with two bedrooms and one bath.
      53654 State Rte 30, Roxbury, NY 12474
      View Details
    • $1,150,000
      0.33 Acres

      Roxbury, NY Commercial Land Opportunity

      0.33-acre lot, $1.15M asking price.
      37249 State Hwy 23, Roxbury, NY 12474
      View Details
    • $535,000
      2,760 SF

      Roxbury Commercial Gem: Multi-Use Property

      Historic building, versatile spaces, income potential.
      53587 State Highway 30, Roxbury, NY 12474
      View Details

    FAQs

    What type of property is this?
    Apartment building - Tastefully renovated mixed-use property with residential and commercial spaces.
    Where is this apartment building located?
    The property is located at 37199 State Hwy 23 Roxbury, NY.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - Income-producing property with tenants in place.; - Completely and tastefully renovated residential and commercial spaces.; - Four residential units: three 2-bedroom apartments and one 1-bedroom unit.
    (518) 898-4660
    Request Owner's contact information
    37199 State Hwy 23 Roxbury, NY 12474
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    Roxbury, NY 12474
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    37199 State Hwy 23 Roxbury, NY 12474
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    We can help!
    Listing Contact
    Susan Miller
    (518) 898-4660
    Learn more
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