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

    4800 Route 23C Jewett, NY 12444

    Sponsored
    For Sale
    $475,000

    Commercial - Jewett, NY

    Property size:
    4,634 SF
    Lot size:
    0.54 Acres
    Days on Market:
    58
    Last Refresh:
    Feb 5 at 9:06 am

    Property Features for 4800 Route 23C

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Kitchen
    APN
    193800 111.00-2-33
    Parking features
    Garage
    Basement Y/N
    1
    Size
    4,634 SF
    Lot size
    0.54 Acres

    Utilities

    Heating system
    Oil

    Building Details

    Year built
    1816
    Year renovated
    1816
    Building materials
    Wood Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Kelly Roach

    Miranda Real Estate Group, Inc (518) 348-2060

    Listing agent Kelly Roach (518) 348-2060

    Listing date Dec 10, 2025

    MLS# 11615484 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

    Property Insight Report

    Overview

    Income-Producing Multifamily Fixer-Upper

    Located in the Catskills town of Jewett, NY, this income-producing multifamily property presents a renovation opportunity. The property is suitable for investors or renovators, already generating rental income with potential for increased returns through improvements. Situated approximately 2.5 hours from New York City, the location offers proximity to outdoor destinations such as Hunter Mountain and Windham Mountain, appealing to long-term tenants, seasonal renters, or short-term rental use. The property features a spacious 4-bedroom, 2-bath main unit, offering potential as an owner's suite, premium rental, or Airbnb renovation. Additional units are currently rented to long-term tenants, providing immediate cash flow. The property, a fixer-upper with a solid structure, offers a value-add opportunity. The versatile layouts can accommodate multi-generational living, long-term rentals, or vacation stays. The location provides access to hiking, lakes, and state forestland. The property is located minutes from Hunter and Windham resorts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jewett
    County
    Greene
    State
    New York
    Longitude
    -74.303567
    Latitude
    42.26197

    Nearby Similar for Sale

    • $475,000
      4,634 SF

      Income-Producing Multifamily Fixer-Upper in Jewett

      Income-producing multifamily property in the Catskills town of Jewett, NY.
      4800 Route 23C, Jewett, NY 12444
      View Details
    • $340,000
      2,856 SF

      Commercial Building on 1.1 Acres

      Turn-key commercial building in Jewett, zoned commercially.
      908 County Rte 17, Jewett, NY 12444
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property in Jewett, NY, with income and renovation potential.
    Where is this multifamily property located?
    The property is located at 4800 Route 23C Jewett, NY.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: - Income-producing multifamily property with existing long-term tenants providing immediate cash flow.; - Prime location in the Catskills, minutes from Hunter and Windham Mountain resorts.; - Significant value-add opportunity as a fixer-upper with solid structure.
    (518) 348-2060
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    4800 Route 23C Jewett, NY 12444
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    Jewett, NY 12444
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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
    4800 Route 23C Jewett, NY 12444
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    We can help!
    Listing Contact
    Kelly Roach
    (518) 348-2060
    Learn more
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