Building Details

Year Built 2019

Listing Agency: Kingston d***@corcorangroup.com Show Phone

Listed By: Dennis C. Cooper · License #10401298613 Show Phone

Source: Corcoran

Added: Aug 5, 2025 Changed: Aug 7 Last Checked: Aug 8 at 5:58AM

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Investment Insights

Based on property information with market context.

This 9,100-square-foot building, constructed as a Dollar Store, features a clear, open layout and 30 parking spaces. Constructed approximately five years ago, the property is in very good condition. Situated on Route 9W, the location benefits from a traffic count of 10,300 vehicles per day. The property is located directly next to the local firehouse and is the only retail space in the immediate area. The zoning allows for a variety of uses, and the open space design provides flexibility for retrofitting. The zoning chart is available for review.

Key Highlights

• Versatile open space layout suitable for various retrofits and business types, as permitted by zoning.
• High visibility location on Rt. 9W with a traffic count of 10,300 vehicles per day.
• Relatively new construction (built in 2019) and in very good condition.

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

$108,354

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

7.47%

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%

$2,167,080 $2.2M

Cap Rate 7%

$1,547,914 $1.5M

Cap Rate 9%

$1,203,933 $1.2M

Market Conditions

NOI Build-Up for 9,100 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

$163.8K $18.00/SF

− Vacancy

−$9.0K −$0.99/SF

EGI

$154.8K $17.01/SF

− OpEx

−$46.4K −$5.10/SF

NOI

$108.4K $11.91/SF

Area

Ulster County, NY

Vacancy

5.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

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%

$2,167,080

Cap Rate 7%

$1,547,914

Cap Rate 9%

$1,203,933

Alternative Uses

Best Use

Retail

$1.55M

$1.35M – $1.81M (±1% cap)

NOI $108,354 @ 7.0% cap · market cap 7.47%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$85.10M

$74.46M – $99.28M (±1% cap)

NOI $5,957,073 @ 7.0% cap · market cap 410.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Building Supply Auto Repair Shop Parking Lot & Garage Real Estate Agency Home Appliance Store Daycare Center

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

Location Intelligence

Trade Area within ½ mile

37

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12429, NY

329

Population

56

Households

5.9

Avg Household Size

32

Median Age

100%

High-School Grad

0.7 sq mi

ZIP Area

470

Density / Sq Mi

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Storefront property - Well-maintained retail building with open space and parking.

Where is this storefront property located?

The property is located at 1162 Broadway / 9w Esopus, NY.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: Versatile open space layout suitable for various retrofits and business types, as permitted by zoning.; High visibility location on Rt. 9W with a traffic count of 10,300 vehicles per day.; Relatively new construction (built in 2019) and in very good condition.