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

    5355 Rte 23 Windham, NY 12496

    Sponsored
    For Sale
    $690,000

    Multi-Unit (2-4), Victorian - Windham, NY

    Property size:
    2,500 SF
    Lot size:
    0.24 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 4 at 4:06 am

    Property Features for 5355 Rte 23

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    900
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    4
    APN
    78.19-1-22
    Parking features
    Garage
    Size
    2,500 SF
    Lot size
    0.24 Acres

    Utilities

    Heating system
    Electric (Heating)

    Building Details

    Floors in Building
    2
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Anthony Guglieri

    PRIME TIME REAL ESTATE INC

    Listing agent Anthony Guglieri

    Listing date Mar 3, 2026

    MLS# 11666113 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

    Mixed-Use Building in Windham, NY

    This legal four-family mixed-use building is situated on Main Street in the historic Windham Mountain Resort area. The property is located in the heart of the town, surrounded by restaurants and bars. The building offers the option to live in one unit and rent out the other three. Alternatively, one could rent the three residential apartments and operate a business from the commercial space. Investors may also choose to rent all four units for passive income through platforms like Airbnb and VRBO. The property benefits from main street exposure and free public parking in the rear. Windham offers various recreational activities, including skiing, golfing, hiking, hunting, fishing, snowmobiling trails, motorcycle festivals, and autumn festivals. The property comes pre-approved with plans and a grant to modify the existing building and expand. The Town of Windham approved a site plan conversion to add outdoor frontage, a rear extension, and to open the entire 1st floor to a large commercial space, moving the 3 apartments to the 2nd floor. A 3rd floor of apartments may also be added. Per area flood zone requirements, the building must be lifted, and all prior applications through lift and new foundation design are already approved, cleared for immediate application for a Construction Grant for payment of 75% of lift, foundation and associated costs. The lot size is 0.24 acres, and the property size is 2500 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Map

    City
    Windham
    County
    Greene
    State
    New York
    Longitude
    -74.250785
    Latitude
    42.307316

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    FAQs

    What type of property is this?
    Quadplex - Legal four-family mixed-use building in the heart of Windham.
    Where is this quadplex located?
    The property is located at 5355 Rte 23 Windham, NY.
    What is the asking price?
    The asking price for this property is $690,000.
    What are key features of this property?
    This property features: - Pre-approved plans and grant for building modification and expansion, including a rear extension and conversion of the first floor to a large commercial space.; - Approved construction grant covers 75% of lift, foundation, and associated costs required by flood zone regulations.; - Legal four-family mixed-use building in the center of the historic Windham Mountain Resort area.
    (917) 991-1005
    Request Owner's contact information
    5355 Rte 23 Windham, NY 12496
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    Windham, NY 12496
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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
    5355 Rte 23 Windham, NY 12496
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    We can help!
    Listing Contact
    Anthony Guglieri
    Real Estate License ID: 0680177
    (917) 991-1005 (718) 980-3000
    Learn more
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