Flex Space with
New
For Sale
$299,000
3858 State Route 52, Callicoon, NY 12791
A separate storage structure and office areas expand the property's functional workspace.
Property Size2,070 SF
Price / SF$144.44
Days on Market7
Property Features for 3858 State Route 52
General Information
Standard status
Active
Size
2,070 SF
Listing Agency:
Coldwell Banker Timberland Properties
(845) 586-3321
Listed By:
James Karpowicz · License #10401283203
(646) 942-8421
Source:
Nicholcityrealty
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 4 at 3:48PM
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 Coldwell Banker Timberland Properties
Investment Insights
Based on property information with market context.
This flex property includes a main work area measuring approximately 35 by 45 feet, with 16-foot ceilings and a 10-by-10-foot overhead door. Improvements include 200-amp electrical service, three heat pumps, an insulated office, a conditioned side room, a bathroom, an upstairs office, and upper-level storage. A wood-burning stove is installed. The property also has a separate 21-by-40-foot Quonset-style building providing approximately 840 square feet for storage or work use; an additional wood/coal stove is included but not installed.
The site encompasses approximately 3 level, usable acres and has approximately 629 feet of stream frontage. A shared pond and broad yard are also part of the property.
The site encompasses approximately 3 level, usable acres and has approximately 629 feet of stream frontage. A shared pond and broad yard are also part of the property.
Key Highlights
- Main work area is approximately 35' x 45' with 16' ceilings
- 10' x 10' roll‑up garage door
- Upgraded 200‑amp electrical service and three new heat pumps
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
$17,340
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
5.80%
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%
$346,800
$346.8K
Cap Rate 7%
$247,714
$247.7K
Cap Rate 9%
$192,667
$192.7K
Market Conditions
NOI Build-Up for 2,070 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
$26.6K $12.84/SF
− Vacancy
−$1.8K −$0.87/SF
EGI
$24.8K $11.97/SF
− OpEx
−$7.4K −$3.59/SF
NOI
$17.3K $8.38/SF
Area
Sullivan County, NY
Vacancy
6.80%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
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%
$346,800
Cap Rate 7%
$247,714
Cap Rate 9%
$192,667
Alternative Uses
Best Use
Flex RnD
$406.0K
$355.2K – $473.6K
NOI $28,417 @ 7.0% cap · market cap 9.50%
Second Best
Industrial
$247.7K
$216.8K – $289.0K
NOI $17,340 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$567.8K
$496.8K – $662.4K
NOI $39,744 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12791, NY
547
Population
330
Households
1.7
Avg Household Size
52
Median Age
16%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
152
Density / Sq Mi
$85,181
Median Household Income
$72,438
Median Earnings
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 - A separate storage structure and office areas expand the property's functional workspace.
Where is this flex space located?
The property is located at 3858 State Route 52 Callicoon, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Main work area is approximately 35' x 45' with 16' ceilings; 10' x 10' roll‑up garage door; Upgraded 200‑amp electrical service and three new heat pumps
