Waterfront Marina with Industrial
New
For Sale
$3,400,000
140 First, Esopus, NY 12429
Commercial Sale, Esopus, NY
Property Size34,683 SF
Lot Size3.30 Acres
Price / SF$98.03
Days on Market2
Property Features for 140 First
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM 1
Zoning description
Commercial - waterfront/marina use
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Exterior features
Boat Slip, Dock, Storage
Dock
1
Lot features
Cleared, Level, Paved, Views
Directions
From Kingston's Rondout District, take Wurts Street across the Wurts Street Bridge into Connelly. Continue on Connelly Road, turn right onto Plantasie Avenue, then left onto First Street to #140 on the right.
Subdivision
Esopus
Standard status
Active
APN
56.50-2-1.111
Size
34,683 SF
Lot size
3.30 Acres
Taxes and HOA fees
Tax Annual Amount
33844
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Water front features
Creek, Navigable Water
Water front
1
Building Details
Year built
1930
Building materials
Brick, Frame
Roof type
Mixed
Additional Structures
Boat House, Storage
Listing Agency:
Coldwell Banker Village Green · Coldwell Banker Real Estate
(845) 679-2255
Listed By:
Laura Warren · License #10401345546
(646) 203-9437
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 6:06PM
MLS# 20265185
Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This marina property spans approximately 3.3 acres and includes about 34,683 square feet of improvements along roughly 300 feet of Rondout Creek frontage. The waterfront component provides approximately 30 boat slips, deep-water access, docks, a launch ramp, travel lift, pump-out station, and waterside decks. Open yard areas and extensive parking currently support boat and vehicle storage.
Several buildings add substantial scale and character. A three-story masonry structure, believed to date from the 1800s, features exposed brick, heavy timber framing, and tall interior volumes. A separate steel-framed building contains open workspace and storage areas with skylights, exposed trusses, and industrial windows. The property also includes a workshop/service building and a residential structure with three apartments.
Located at 140 First in Esopus, the property has direct boating access to the Hudson River. Public water and public sewer serve the site, and natural gas is available. The improvements and waterfront setting provide a broad existing operational base for marina-related use, storage, workspace, and further planning subject to applicable approvals.
Several buildings add substantial scale and character. A three-story masonry structure, believed to date from the 1800s, features exposed brick, heavy timber framing, and tall interior volumes. A separate steel-framed building contains open workspace and storage areas with skylights, exposed trusses, and industrial windows. The property also includes a workshop/service building and a residential structure with three apartments.
Located at 140 First in Esopus, the property has direct boating access to the Hudson River. Public water and public sewer serve the site, and natural gas is available. The improvements and waterfront setting provide a broad existing operational base for marina-related use, storage, workspace, and further planning subject to applicable approvals.
Key Highlights
- Approximately 3.3 acres with roughly 300 feet of Rondout Creek frontage
- Approximately 30 boat slips with deep‑water access to the Hudson River
- Waterfront infrastructure includes docks, launch ramp, travel lift, and pump‑out station
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
$203,645
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
5.99%
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%
$4,072,900
$4.1M
Cap Rate 7%
$2,909,214
$2.9M
Cap Rate 9%
$2,262,722
$2.3M
Market Conditions
NOI Build-Up for 34,683 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
$312.1K $9.00/SF
− Vacancy
−$21.2K −$0.61/SF
EGI
$290.9K $8.39/SF
− OpEx
−$87.3K −$2.52/SF
NOI
$203.6K $5.87/SF
Area
Ulster County, NY
Vacancy
6.80%
Lease Rate
$9.00 /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%
$4,072,900
Cap Rate 7%
$2,909,214
Cap Rate 9%
$2,262,722
Alternative Uses
Best Use
Flex RnD
$7.77M
$6.80M – $9.06M
NOI $543,760 @ 7.0% cap · market cap 15.99%
Second Best
Mixed Use
$5.24M
$4.58M – $6.11M
NOI $366,773 @ 7.0% cap · market cap 10.79%
Theoretical Best
Multifamily LT 5
$324.35M
$283.80M – $378.41M
NOI $22,704,304 @ 7.0% cap · market cap 667.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 12429, NY
329
Population
56
Households
5.9
Avg Household Size
32
Median Age
100%
High-School Grad
0.7 sq mi
ZIP Area
470
Density / Sq Mi
Market
Vacancy Rate% for Industrial 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?
Marina - Operating marina with slips, waterfront infrastructure, substantial workspace, storage, and three residential apartments.
Where is this marina located?
The property is located at 140 First Esopus, NY.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Approximately 3.3 acres with roughly 300 feet of Rondout Creek frontage; Approximately 30 boat slips with deep‑water access to the Hudson River; Waterfront infrastructure includes docks, launch ramp, travel lift, and pump‑out station
