Building Details

Year Built 1998

Buildings 1

Stories 2

Tenancy Single

Listing Agency: Oneonta n***@gmail.com Show Phone

Listed By: Jean Orr · License #NY Show Phone

Source: Kw

Added: Apr 4 Changed: Aug 19 Last Checked: Aug 19 at 3:58AM

Report an Issue

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 Oneonta

Investment Insights

Based on property information with market context.

This mixed-use property includes a 1,200-square-foot building with a separate entrance and stairway to a 600-square-foot unfinished second floor. The upper level can be completed for personal use or additional rental space. A new roof was installed in 2024, and the building includes a security system, propane, wall units, forced air, and an electric water heater.

A post office tenant currently occupies the property under an agreement expiring 7/1/28, with two five-year extension options and a 10% escalation clause. The site contains 4 acres, including a 4,000-square-foot paved parking area, a stream crossing the property, and a mostly level mowed meadow with a gradual rise toward the rear. Electricity, cable, and high-speed internet are available or connected. Middletown Code review applies to potential additional improvements.

Key Highlights

• 4 acres with a stream, mowed meadow, and gently rising rear portion
• 1,200‑square‑foot mixed‑use building with 600 square feet of unfinished second‑floor space
• Post office rental agreement runs through 7/1/28 with two 5‑year options

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

$17,388

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

6.98%

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%

$347,760 $347.8K

Cap Rate 7%

$248,400 $248.4K

Cap Rate 9%

$193,200 $193.2K

Market Conditions

NOI Build-Up for 1,800 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

$30.2K $16.80/SF

− Vacancy

−$2.4K −$1.34/SF

EGI

$27.8K $15.46/SF

− OpEx

−$10.4K −$5.80/SF

NOI

$17.4K $9.66/SF

Area

Delaware County, NY

Vacancy

8.00%

Lease Rate

$16.80 /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%

$347,760

Cap Rate 7%

$248,400

Cap Rate 9%

$193,200

Alternative Uses

Best Use

Mixed Use

$248.4K

$217.4K – $289.8K (±1% cap)

NOI $17,388 @ 7.0% cap · market cap 6.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$883.1K

$772.7K – $1.03M (±1% cap)

NOI $61,819 @ 7.0% cap · market cap 24.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

United States Postal ... Post Office

Suggested Use

Top Pick Bed & Breakfast Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Explore this area Business Placement

Demographics for 12455, NY

1,820

Population

1,697

Households

1.1

Avg Household Size

56

Median Age

27%

College-Educated

91%

High-School Grad

71.3 sq mi

ZIP Area

26

Density / Sq Mi

$74,271

Median Household Income

$34,531

Median Earnings

$1,297

Median Rent

$219,600

Median Home Value

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Mixed-use property - A leased commercial building includes unfinished upper-level space and access to a streamside acreage setting.

Where is this mixed-use property located?

The property is located at 1375 Dimmick Mountain Road Denver, NY.

What is the asking price?

The asking price for this property is $249,000.

What are key features of this property?

This property features: 4 acres with a stream, mowed meadow, and gently rising rear portion; 1,200‑square‑foot mixed‑use building with 600 square feet of unfinished second‑floor space; Post office rental agreement runs through 7/1/28 with two 5‑year options