Six-Unit Mixed-Use
For Sale
$1,499,000
141 ULSTER AVE, Saugerties, NY 12477
Fully occupied property combining commercial storefronts, residential apartments, separate utility metering, and private off-street parking.
Property Size7,316 SF
Price / SF$204.89
Days on Market53
Property Features for 141 ULSTER AVE
General Information
Standard status
Active
Size
7,316 SF
Property subtype
Mixed Use
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,403
Amenities
off street parking
Window Air Conditioning, Gas, Heat Pump, A/C - Other
3
No Parking, Paved Driveway, Concrete Driveway.
0.03
Other, City Road.
Building Details
Year Built
1895
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Howard Hanna Rand Realty
(845) 300-2480
Listed By:
Rodney Batista
(845) 300-2480
Source:
Xome
Added: Jul 7
Changed: Aug 28
Last Checked: Aug 28 at 7:13AM
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 Howard Hanna Rand Realty
Investment Insights
Based on property information with market context.
Built in 1895, this fully occupied mixed-use property contains six units across two levels. The first floor has three commercial storefronts occupied by local businesses, while the second floor includes three oversized one-bedroom, one-bath apartments. Residential interiors feature abundant natural light and original hardwood flooring.
Each unit is separately metered for gas and electricity. The property also includes a private off-street parking lot, a notable convenience in the Village of Saugerties. The building is approximately three minutes from Main Street and the NYS Thruway, placing both the commercial and residential components near established village amenities and regional transportation access. All tenants currently operate under month-to-month leases.
Each unit is separately metered for gas and electricity. The property also includes a private off-street parking lot, a notable convenience in the Village of Saugerties. The building is approximately three minutes from Main Street and the NYS Thruway, placing both the commercial and residential components near established village amenities and regional transportation access. All tenants currently operate under month-to-month leases.
Key Highlights
- Six‑unit mixed‑use building with three commercial storefronts and three residential apartments
- Three oversized one‑bedroom, one‑bath apartments on the second floor
- All units fully occupied and leased on a month‑to‑month basis
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
$87,112
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
5.81%
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%
$1,742,240
$1.7M
Cap Rate 7%
$1,244,457
$1.2M
Cap Rate 9%
$967,911
$967.9K
Market Conditions
NOI Build-Up for 7,316 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
$131.7K $18.00/SF
− Vacancy
−$7.2K −$0.99/SF
EGI
$124.4K $17.01/SF
− OpEx
−$37.3K −$5.10/SF
NOI
$87.1K $11.91/SF
Area
Ulster County, NY
Vacancy
5.50%
Lease Rate
$18.00 /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%
$1,742,240
Cap Rate 7%
$1,244,457
Cap Rate 9%
$967,911
Alternative Uses
Best Use
Multifamily LT 5
$68.42M
$59.87M – $79.82M
NOI $4,789,225 @ 7.0% cap · market cap 319.49%
Second Best
Apartment 5plus
$59.59M
$52.14M – $69.52M
NOI $4,171,019 @ 7.0% cap · market cap 278.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 12477, NY
18,559
Population
9,483
Households
2
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
66.7 sq mi
ZIP Area
278
Density / Sq Mi
$72,353
Median Household Income
$49,357
Median Earnings
$1,239
Median Rent
$292,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combining commercial storefronts, residential apartments, separate utility metering, and private off-street parking.
Where is this mixed-use property located?
The property is located at 141 ULSTER AVE Saugerties, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Six‑unit mixed‑use building with three commercial storefronts and three residential apartments; Three oversized one‑bedroom, one‑bath apartments on the second floor; All units fully occupied and leased on a month‑to‑month basis
