Saugerties Mixed-Use Income
211 Main Street Saugerties, NY 12477
211 Main Street, Saugerties, NY, 12477
$1,200,000
For Sale
$1,200,000
Two buildings in the heart of Saugerties, multiple income streams.
Property Size7,219 SF
Lot Size0.21 Acres
Price / SF$166.23
Days on Market803
Property Features for 211 Main Street
General Information
- Standard status
- Active
- Size
- 7,219 SF
- Lot size
- 0.21 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1951
Listing agency
RAND COMMERCIAL
(845) 338-5252
Listed by
PHILIP F KELLY
Source
Corcoran
Added: May 10, 2024 Updated: Jul 10 at 3:47PM Checked: Jul 21 at 10:37AM
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 RAND COMMERCIAL
Investment Insights
Based on property information with market context.
This property presents a multiple stream income opportunity in the Village of Saugerties. It comprises two buildings situated in the heart of town, near restaurants and retail establishments. The first building includes two commercial spaces, one of which is currently vacant and was previously occupied by Flanigan's Dry Cleaners. The building also features a second-floor, three-bedroom apartment currently utilized for short-term rentals. Additionally, there are four attached garages, two with 8' doors and two with 9' doors. Included in the sale is an adjacent brick multi-family building at 55 Partition St, featuring 2088 sq ft with two 2-bedroom/one-bath apartments. The properties are not being sold separately. The total property size is 7219 sq ft.
Key Highlights
- Multiple income streams from commercial spaces, short‑term rental apartment, and residential apartments.
- Prime location in the heart of Saugerties, near restaurants and retail.
- Two buildings included: a mixed‑use building with commercial space and an apartment, plus a separate multi‑family building.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.9k | $18.00 |
| − Vacancy | −$7.1k | −$0.99 |
| EGI | $122.8k | $17.01 |
| − OpEx | −$36.8k | −$5.10 |
| NOI | $86.0k | $11.91 |
7,219 SF · lease $18.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$58.80M
$51.45M – $68.60M
NOI $4,115,717 @ 7.0% cap · market cap 342.98%
Second Best
Retail
$1.23M
$1.07M – $1.43M
NOI $85,957 @ 7.0% cap · market cap 7.16%
Theoretical Best
Multifamily LT 5
$67.51M
$59.07M – $78.76M
NOI $4,725,726 @ 7.0% cap · market cap 393.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Mixed-use property - Two buildings in the heart of Saugerties, multiple income streams.
Where is this mixed-use property located?
The property is located at 211 Main Street Saugerties, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Multiple income streams from commercial spaces, short‑term rental apartment, and residential apartments.; Prime location in the heart of Saugerties, near restaurants and retail.; Two buildings included: a mixed‑use building with commercial space and an apartment, plus a separate multi‑family building.
