Mixed-Use Building with Office
For Sale
$1,700,000
456 Broadway, Monticello, NY 12701
Fully leased ground-floor storefronts and 11 updated office suites with shared reception and waiting area.
Property Size13,225 SF
Days on Market33
Property Features for 456 Broadway
General Information
Standard status
Active
Size
13,225 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Floor
2
Office Units
11
Taxes and HOA fees
Annual Taxes
$9,357
Amenities
shared reception and waiting area
high-efficiency mini-split HVAC
security system
Building Details
Building Size
13,225 SF
Year Built
1920
Buildings
1
Units
14
Tenancy
Multi
Listing Agency:
Curasi Realty
(914) 562-1292
Listed By:
Marie Savage · License #10401302009
(914) 562-1292
Source:
Elliman
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 31 at 5:05PM
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 Curasi Realty
Investment Insights
Based on property information with market context.
This mixed-use building includes three fully leased ground-floor commercial storefronts and 11 updated professional office suites on the second floor. The office level features a shared reception and waiting area designed for tenant and client traffic. The property is serviced by municipal water and sewer and equipped with a security system. Heating and air conditioning are provided by high-efficiency mini-split systems.
Located at 456 Broadway in the Village of Monticello, the building is positioned on the community’s primary commercial corridor for retail and office visibility. Broadway has an estimated 8,000 to 12,000 vehicles per day, supporting consistent vehicle and pedestrian activity. Access is described as convenient to NYS Route 17 / Interstate 86, connecting the property to the greater Hudson Valley and Catskills region.
Built in 1920, the building is offered as a value-add mixed-use asset with established tenancy on the ground floor and a tenant-ready office suite layout upstairs.
Located at 456 Broadway in the Village of Monticello, the building is positioned on the community’s primary commercial corridor for retail and office visibility. Broadway has an estimated 8,000 to 12,000 vehicles per day, supporting consistent vehicle and pedestrian activity. Access is described as convenient to NYS Route 17 / Interstate 86, connecting the property to the greater Hudson Valley and Catskills region.
Built in 1920, the building is offered as a value-add mixed-use asset with established tenancy on the ground floor and a tenant-ready office suite layout upstairs.
Key Highlights
- Three fully leased ground‑floor commercial storefronts
- Second floor with 11 updated professional office suites plus shared reception and waiting area
- High‑efficiency mini‑split heating and air conditioning systems
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
$113,471
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
6.67%
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%
$2,269,420
$2.3M
Cap Rate 7%
$1,621,014
$1.6M
Cap Rate 9%
$1,260,789
$1.3M
Market Conditions
NOI Build-Up for 13,225 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
$206.3K $15.60/SF
− Vacancy
−$24.8K −$1.87/SF
EGI
$181.6K $13.73/SF
− OpEx
−$68.1K −$5.15/SF
NOI
$113.5K $8.58/SF
Area
Sullivan County, NY
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,269,420
Cap Rate 7%
$1,621,014
Cap Rate 9%
$1,260,789
Alternative Uses
Best Use
Office B
$2.65M
$2.32M – $3.09M
NOI $185,679 @ 7.0% cap · market cap 10.92%
Second Best
Retail
$2.28M
$2.00M – $2.66M
NOI $159,636 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$3.63M
$3.17M – $4.23M
NOI $253,920 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased ground-floor storefronts and 11 updated office suites with shared reception and waiting area.
Where is this mixed-use property located?
The property is located at 456 Broadway Monticello, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Three fully leased ground‑floor commercial storefronts; Second floor with 11 updated professional office suites plus shared reception and waiting area; High‑efficiency mini‑split heating and air conditioning systems
