Versatile Block Structure on Large
For Sale
$799,900
3520 State Route 42, Monticello, NY 12701
Adaptable building on 1.25 acres, suitable for diverse uses.
Property Size3,400 SF
Lot Size1.13 Acres
Price / SF$216.19
Days on Market135
Property Features for 3520 State Route 42
General Information
Standard status
Active
Size
3,400 SF
Lot size
1.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,750
Building Details
Building Size
3,400 SF
Stories
2
Units
1
Listing Agency:
Century 21 Country realty
(845) 791-5280
Listed By:
Anna Milucky · License #10401364655
(845) 791-5280
Source:
Elliman
Added: Mar 31
Changed: Aug 8
Last Checked: Aug 11 at 12:06PM
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 Century 21 Country realty
Investment Insights
Based on property information with market context.
The block structure measures 50 feet by 74 feet and features 12-inch-thick block walls and a 4-foot foundation. Situated on a 1.25-acre lot, the building includes three main bay doors and an additional side bay door. The structure has a full, insulated attic. The ground level features approximately 3700 square feet, including a large office and additional offices on the second floor. Three large, heavily insulated bay doors are positioned on the main facade, suitable for vehicle or equipment access. An additional bay door is located on the right side of the structure. The full attic is fully insulated, providing additional storage or workspace above the main floor. Given its construction, multiple bay doors, and large attic space, the structure can serve many purposes, including auto or equipment storage or repair, a warehouse or distribution center, a workshop or light industrial use, or a multi-purpose commercial building.
Key Highlights
- Large 1.25‑acre lot suitable for various commercial uses.
- Three large, heavily insulated main bay doors for vehicle/equipment access.
- Approximately 3700 sq ft ground level with additional second‑floor offices.
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
$50,794
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
6.35%
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%
$1,015,880
$1.0M
Cap Rate 7%
$725,629
$725.6K
Cap Rate 9%
$564,378
$564.4K
Market Conditions
NOI Build-Up for 3,700 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
$88.8K $24.00/SF
− Vacancy
−$10.7K −$2.88/SF
EGI
$78.1K $21.12/SF
− OpEx
−$27.4K −$7.39/SF
NOI
$50.8K $13.73/SF
Area
Sullivan County, NY
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,015,880
Cap Rate 7%
$725,629
Cap Rate 9%
$564,378
Alternative Uses
Best Use
Flex RnD
$725.6K
$634.9K – $846.6K
NOI $50,794 @ 7.0% cap · market cap 6.35%
Second Best
Warehouse
$537.7K
$470.5K – $627.3K
NOI $37,636 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.01M
$888.0K – $1.18M
NOI $71,040 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable building on 1.25 acres, suitable for diverse uses.
Where is this flex space located?
The property is located at 3520 State Route 42 Monticello, NY.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Large 1.25‑acre lot suitable for various commercial uses.; Three large, heavily insulated main bay doors for vehicle/equipment access.; Approximately 3700 sq ft ground level with additional second‑floor offices.
