Mixed-Use Property in Walden,
For Sale
$650,000
1 Main St, Walden, NY 12586
Former pizzeria with three apartments in the heart of Walden.
Property Size3,750 SF
Lot Size0.03 Acres
Days on Market163
Property Features for 1 Main St
General Information
Standard status
Active
Size
3,750 SF
Lot size
0.03 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,043
Building Details
Building Size
3,750 SF
Units
4
Listing Agency:
Keller Williams Realty
(845) 494-3749
Listed By:
Chris Scibelli · License #40AD1116292
(845) 494-3749
Source:
Elliman
Added: Mar 12
Changed: Aug 13
Last Checked: Aug 21 at 7:48AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This mixed-use property, formerly a pizzeria with three residential apartments, presents an investment opportunity in the heart of Walden, New York. The property is located in the largest of three villages within the historic town of Montgomery. Walden is known for attractions such as Angry Orchard and Wooster Grove Park. The town of Montgomery will also be home to an upcoming dinosaur theme park. Updates to the property include a roof replacement and a new hot water tank, both completed in 2020. Restaurant equipment is negotiable. The property could be suitable for business owners seeking rental income to offset mortgage costs.
Key Highlights
- Investment opportunity with existing business and rental income potential.
- Includes 3 residential apartments for mortgage offset.
- Located in the heart of Walden, near popular attractions.
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
$32,603
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
5.02%
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%
$652,060
$652.1K
Cap Rate 7%
$465,757
$465.8K
Cap Rate 9%
$362,256
$362.3K
Market Conditions
NOI Build-Up for 3,750 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
$45.0K $12.00/SF
− Vacancy
−$1.5K −$0.41/SF
EGI
$43.5K $11.59/SF
− OpEx
−$10.9K −$2.90/SF
NOI
$32.6K $8.69/SF
Area
Orange County, NY
Vacancy
3.40%
Lease Rate
$12.00 /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%
$652,060
Cap Rate 7%
$465,757
Cap Rate 9%
$362,256
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$876.8K – $1.17M
NOI $70,145 @ 7.0% cap · market cap 10.79%
Second Best
Specialty Retail
$465.8K
$407.5K – $543.4K
NOI $32,603 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,906 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12586, NY
13,087
Population
4,711
Households
2.8
Avg Household Size
39
Median Age
27%
College-Educated
87%
High-School Grad
23.8 sq mi
ZIP Area
550
Density / Sq Mi
$94,107
Median Household Income
$47,188
Median Earnings
$1,576
Median Rent
$335,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Hometown buffet — Walden, NY 12586
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Former pizzeria with three apartments in the heart of Walden.
Where is this conventional restaurant located?
The property is located at 1 Main St Walden, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Investment opportunity with existing business and rental income potential.; Includes **3 residential apartments for mortgage offset.**; Located in the heart of Walden, near popular attractions.
