Two-Building Mixed-Use
For Sale
$999,999
135 - 139 Union Street, Montgomery, NY 12549
Two buildings combine a deli/pizzeria storefront with separate residential living spaces.
Property Size3,228 SF
Price / SF$475.28
Days on Market169
Property Features for 135 - 139 Union Street
General Information
Standard status
Active
Size
3,228 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
R5
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$9,994
Building Details
Building Size
3,228 SF
Year Built
1954
Buildings
2
Stories
2
Units
3
Listing Agency:
Keller Williams Realty
(845) 494-4715
Listed By:
Richard Baxter · License #10401254733
(845) 494-4715
Source:
Callexitfirst
Added: Mar 14
Changed: Aug 27
Last Checked: Aug 28 at 11:30AM
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 offering includes two separate buildings with commercial and residential components. The building at 135 Union Street contains an approximately 2,104-square-foot deli/pizzeria storefront with a kitchen, office, half bathroom, and parking for 20+ vehicles. Its second floor provides a separate apartment with three bedrooms and one bathroom, measuring approximately 1,124 square feet. The neighboring building at 139 Union Street is a single-family home with two bedrooms, one bathroom, and approximately 782 square feet.
The property is located in the Historic District of the Village of Montgomery, approximately half a mile from the village center. Surrounding amenities include local restaurants, boutiques, shops, banking and postal services, the Montgomery Senior Center, Veterans Memorial Park, Paul Jr. Designs Dog-Park, and the Wallkill River. The property is zoned R5 and was built in 1954.
The property is located in the Historic District of the Village of Montgomery, approximately half a mile from the village center. Surrounding amenities include local restaurants, boutiques, shops, banking and postal services, the Montgomery Senior Center, Veterans Memorial Park, Paul Jr. Designs Dog-Park, and the Wallkill River. The property is zoned R5 and was built in 1954.
Key Highlights
- Two separate buildings at 135 - 139 Union Street
- Deli/pizzeria storefront measures approximately 2,104 sqft
- Second‑floor apartment includes 3 Bedrooms, 1 Bathroom and approximately 1,124sqft
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
$39,356
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
3.94%
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%
$787,120
$787.1K
Cap Rate 7%
$562,229
$562.2K
Cap Rate 9%
$437,289
$437.3K
Market Conditions
NOI Build-Up for 2,104 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
$74.2K $35.28/SF
− Vacancy
−$2.7K −$1.27/SF
EGI
$71.6K $34.01/SF
− OpEx
−$32.2K −$15.30/SF
NOI
$39.4K $18.71/SF
Area
Orange County, NY
Vacancy
3.60%
Lease Rate
$35.28 /SF/Yr
Expense Ratio
45.00%
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%
$787,120
Cap Rate 7%
$562,229
Cap Rate 9%
$437,289
Alternative Uses
Best Use
Apartment 5plus
$562.2K
$492.0K – $655.9K
NOI $39,356 @ 7.0% cap · market cap 3.94%
Second Best
Retail
$365.8K
$320.1K – $426.8K
NOI $25,609 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$712.6K
$623.5K – $831.4K
NOI $49,882 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 12549, NY
10,349
Population
3,918
Households
2.6
Avg Household Size
42
Median Age
35%
College-Educated
93%
High-School Grad
38.7 sq mi
ZIP Area
267
Density / Sq Mi
$125,000
Median Household Income
$66,250
Median Earnings
$1,606
Median Rent
$377,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine a deli/pizzeria storefront with separate residential living spaces.
Where is this mixed-use property located?
The property is located at 135 - 139 Union Street Montgomery, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Two separate buildings at 135 - 139 Union Street; Deli/pizzeria storefront measures approximately 2,104 sqft; Second‑floor apartment includes 3 Bedrooms, 1 Bathroom and approximately 1,124sqft
