Monticello Multi-Family Commercial
For Sale
$630,000
Pending
135-149 Wildcat Rd, Monticello, NY 12701
Multi-family and commercial property on over 6 acres in Monticello.
Property Size4,195 SF
Lot Size6.18 Acres
Days on Market165
Property Features for 135-149 Wildcat Rd
General Information
Standard status
Pending
Size
4,195 SF
Lot size
6.18 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,852
Building Details
Building Size
4,195 SF
Year Built
1940
Units
5
Listing Agency:
ELLIOTT AND POMEROY INC
(607) 339-6140
Listed By:
Mary B Hovanec · License #10301215574
(607) 339-6140
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 21 at 9:38AM
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 ELLIOTT AND POMEROY INC
Investment Insights
Based on property information with market context.
Located in Monticello, Thompson township, this multi-family and commercial property is set on over 6 acres. The property features a two-story farmhouse that is in the process of being remodeled, with upgraded systems and construction upgrades awaiting completion. Additionally, there is a ranch home and a sectional manufactured home, both in fixer conditions. The property also includes a large carport, horse stalls barn, and a 55x100 commercial barn/warehouse. Situated on a quiet cul-de-sac, the property is still close to all amenities.
Key Highlights
- Multi‑family and commercial property on over 6 acres.
- Two‑story farmhouse (in process of remodel with upgraded systems).
- Features a large 55x100 commercial barn/warehouse.
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
$42,671
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
6.77%
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%
$853,420
$853.4K
Cap Rate 7%
$609,586
$609.6K
Cap Rate 9%
$474,122
$474.1K
Market Conditions
NOI Build-Up for 4,195 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
$53.9K $12.84/SF
− Vacancy
−$3.7K −$0.87/SF
EGI
$50.2K $11.97/SF
− OpEx
−$7.5K −$1.80/SF
NOI
$42.7K $10.17/SF
Area
Sullivan County, NY
Vacancy
6.80%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
15.00%
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%
$853,420
Cap Rate 7%
$609,586
Cap Rate 9%
$474,122
Alternative Uses
Best Use
Warehouse
$609.6K
$533.4K – $711.2K
NOI $42,671 @ 7.0% cap · market cap 6.77%
Second Best
Mixed Use
$514.2K
$449.9K – $599.9K
NOI $35,993 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,544 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-family and commercial property on over 6 acres in Monticello.
Where is this mixed-use property located?
The property is located at 135-149 Wildcat Rd Monticello, NY.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Multi‑family and commercial property on over 6 acres.; Two‑story farmhouse (in process of remodel with upgraded systems).; Features a large **55x100 commercial barn/warehouse**.
