Mixed-Use Building with Two
New
For Sale
$299,900
118 Grand Street, Kingston, NY 12401
Commercial-residential layout supports office, retail, and live-work applications.
Property Size1,264 SF
Price / SF$237.26
Days on Market4
Property Features for 118 Grand Street
General Information
Standard status
Active
Size
1,264 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,564
Amenities
Central air
Corner Lot
Baseboard Heating
Natural gas Heating
Window unit(s) Cooling
Building Details
Year Built
1950
Buildings
1
Building Size
1,264 SF
Listing Agency:
BERARDI REALTY
(845) 201-1111
Listed By:
GREGORY BERARDI · License #10311209045
Source:
Corcoran
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 5:33AM
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 BERARDI REALTY
Investment Insights
Based on property information with market context.
Located at 118 Grand Street in Kingston, this 1,264-square-foot mixed-use building combines commercial and residential characteristics in a compact configuration. Built in 1950, the property includes two full bathrooms and a flexible interior that can accommodate professional office, retail, mixed-use, or creative-space applications.
The layout is also described as capable of being separated into two rental areas or reconfigured as two living spaces, subject to the required approvals and work. This flexibility supports users seeking a building with multiple occupancy concepts within an established commercial-residential format.
The layout is also described as capable of being separated into two rental areas or reconfigured as two living spaces, subject to the required approvals and work. This flexibility supports users seeking a building with multiple occupancy concepts within an established commercial-residential format.
Key Highlights
- 1,264 SF mixed‑use commercial and residential building
- Two full bathrooms
- Built in 1950
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
$24,828
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
8.28%
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%
$496,560
$496.6K
Cap Rate 7%
$354,686
$354.7K
Cap Rate 9%
$275,867
$275.9K
Market Conditions
NOI Build-Up for 1,264 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
$37.9K $30.00/SF
− Vacancy
−$4.8K −$3.81/SF
EGI
$33.1K $26.19/SF
− OpEx
−$8.3K −$6.55/SF
NOI
$24.8K $19.64/SF
Area
Ulster County, NY
Vacancy
12.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$496,560
Cap Rate 7%
$354,686
Cap Rate 9%
$275,867
Alternative Uses
Best Use
Office B
$354.7K
$310.4K – $413.8K
NOI $24,828 @ 7.0% cap · market cap 8.28%
Second Best
Retail
$215.0K
$188.1K – $250.8K
NOI $15,050 @ 7.0% cap · market cap 5.02%
Theoretical Best
Multifamily LT 5
$11.82M
$10.34M – $13.79M
NOI $827,444 @ 7.0% cap · market cap 275.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
Explore this area
Business Placement
Demographics for 12401, NY
35,493
Population
16,914
Households
2.1
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
58.9 sq mi
ZIP Area
603
Density / Sq Mi
$67,426
Median Household Income
$42,503
Median Earnings
$1,300
Median Rent
$285,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial-residential layout supports office, retail, and live-work applications.
Where is this mixed-use property located?
The property is located at 118 Grand Street Kingston, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,264 SF mixed‑use commercial and residential building; Two full bathrooms; Built in 1950
