Renovated Office Building Investment
1 John St, Millerton, NY 12546
Meticulously renovated, fully occupied office building with strong financials.
Property size:
4,940 SFPrice / SF:
$199/SF- Added:
- Jun 22, 2023
- Days on Market:
- 1066
- Last Refresh:
- May 13 at 8:22 pm
Property Features for 1 John St
General Information
- Standard status
- Active
- Size
- 4,940 SF
- Property subtype
- Other
Building Details
- Year Built
- 1851
Listing agent JUSZTINA PAKSAI
Listing office ELYSE HARNEY REAL ESTATE CT
Listing date Jun 22, 2023
Source Xome
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of ELYSE HARNEY REAL ESTATE CT
HighLights
- Fully Occupied with Strong Financials (Profitable Venture)
- Meticulously Renovated and Well‑Maintained (Excellent Condition)
- Commercially Zoned Space: 4940 sqft
- 14 Offices with Diverse Tenant Mix
- Abundant Parking
- Low‑Maintenance Landscaping
Overview
This meticulously renovated four-floor office building offers an investment opportunity. The property has been well-maintained, resulting in its excellent condition. The rent roll demonstrates strong financials and full occupancy. The offices, common areas, and mechanical systems are well-kept, ensuring a comfortable and efficient working environment. The building features 14 offices spread across four floors, creating a diverse and vibrant atmosphere with a mix of quiet offices, services, and artists. The commercially zoned space provides ample room for various businesses, totaling 4940 square feet. Low-maintenance landscaping, abundant parking, and long-term tenants make this an ideal investment.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$878.5K
NOI $79,068 @ 9.00% cap · cautious / downside scenario
Moderate
$1.13M
NOI $79,068 @ 7.00% cap · market / base-case scenario
Aggressive
$1.58M
NOI $79,068 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.2k | $27.36 |
| − Vacancy | −$29.7k | −$6.02 |
| EGI | $105.4k | $21.34 |
| − OpEx | −$26.4k | −$5.34 |
| NOI | $79.1k | $16.01 |
4,940 SF · lease $27.36/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.13M
$988.4K – $1.32M
NOI $79,068 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,092 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Millerton
- County
- Dutchess
- State
- New York
- Longitude
- -73.5451
- Latitude
- 41.9505
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Meticulously renovated, fully occupied office building with strong financials.
Where is this office building located?
The property is located at 1 John St Millerton, NY.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Fully Occupied with Strong Financials (Profitable Venture); Meticulously Renovated and Well‑Maintained (Excellent Condition); Commercially Zoned Space: 4940 sqft
