Saugerties Hotel/Residential Income
For Sale
$1,200,000
Pending
451 Washington Avenue Extension, Saugerties, NY 12477
27-unit building near village, suitable for various uses.
Property Size10,000 SF
Lot Size2.20 Acres
Days on Market564
Property Features for 451 Washington Avenue Extension
General Information
Standard status
Pending
Size
10,000 SF
Lot size
2.20 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,926
Amenities
Central air
Central Air Cooling
Forced Air Heating
Level
Propane Heating
Building Details
Year Built
1960
Listing Agency:
BERARDI REALTY
(845) 201-1111
Listed By:
GREGORY C. BERARDI · License #10311209045
(845) 389-7895
Source:
Corcoran
Added: Apr 5, 2025
Changed: Oct 19
Last Checked: Oct 19 at 7:08AM
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
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Investment Insights
Based on property information with market context.
Located approximately 0.5 miles from the Saugerties Village center, this property is situated near Horse Show properties, the Cantine Sports Complex, an indoor Ice Arena, mini-golf, go-karts, and a skate park. The 27-unit building includes a one-bedroom manager's apartment, totaling 28 units. The building, exceeding 10,000 square feet, is divided into four suites, each equipped with a full kitchen, dining area, living room, and six to seven bedrooms, each with its own full bathroom. Updated with new HVAC (heat and AC) and high-efficiency propane units, the building also features a comprehensive laundry facility with over five coin-operated washers and dryers. The property is fully furnished and currently leased to a Master Tenant. It is located just off the Village, surrounded by Horse Show property (HITS) and other Village activities, including shops, restaurants, theaters, and the waterfront. This property is suitable for a hotel, Inn, Senior Residence, or SRO rentals, and the current tenant uses it for Emergency Housing. List agent is part owner.
Key Highlights
- Prime location near Saugerties Village, Horse Show (HITS), shops, restaurants, and waterfront.
- 27 rentable units plus a 1‑bedroom manager's apartment (28 total units).
- Large 10,000+ sq ft building divided into four suites**, each with full kitchen, dining area, living room, and 6‑7 bedrooms with private bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,438
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,068,760
$1.1M
Cap Rate 7%
$763,400
$763.4K
Cap Rate 9%
$593,756
$593.8K
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$150.0K $15.00/SF
− Vacancy
−$37.5K −$3.75/SF
EGI
$112.5K $11.25/SF
− OpEx
−$59.1K −$5.91/SF
NOI
$53.4K $5.34/SF
Area
Ulster County, NY
Vacancy
25.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,068,760
Cap Rate 7%
$763,400
Cap Rate 9%
$593,756
Alternative Uses
Best Use
Hotel Hospitality
$763.4K
$668.0K – $890.6K
NOI $53,438 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$93.52M
$81.83M – $109.10M
NOI $6,546,234 @ 7.0% cap · market cap 545.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 12477, NY
18,559
Population
9,483
Households
2
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
66.7 sq mi
ZIP Area
278
Density / Sq Mi
$72,353
Median Household Income
$49,357
Median Earnings
$1,239
Median Rent
$292,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - 27-unit building near village, suitable for various uses.
Where is this hotel located?
The property is located at 451 Washington Avenue Extension 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: Prime location near Saugerties Village, Horse Show (HITS), shops, restaurants, and waterfront.; 27 rentable units plus a 1‑bedroom manager's apartment (28 total units).; Large 10,000+ sq ft building divided into four suites**, each with full kitchen, dining area, living room, and 6‑7 bedrooms with private bathrooms.
