6-Unit Mixed-Use Apartment Building with
For Sale
$1,499,000
141 Ulster Avenue, Saugerties, NY 12477
COMMERCIAL - Saugerties, NY
Property Size7,316 SF
Lot Size0.03 Acres
Price / SF$204.89
Days on Market50
Property Features for 141 Ulster Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
05
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 4, Bathroom 6, Bathroom 1
Appliances
Washer/Dryer, Refrigerator, Oven, Electric Water Heater
Lot features
Paved
Elementary school
Cahill K-6
Elementary school district
Saugerties Central Schools
Middle school district
Saugerties Central Schools
High school district
Saugerties Central Schools
Directions
In Saugerties, Rt. 212 to property located across from Price Chopper.
Subdivision
Saugerties-Vlg
Standard status
Active
APN
480101805300010230000000
Size
7,316 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
514801.018.053-0001-023.000/0000
Tax Annual Amount
9403
Legal Description
514801.018.053-0001-023.000/0000
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Hot Water(Heating), Natural Gas
Cooling system
Window Unit(s), Heat Pump
Water source
Public
Amenities
original hardwood floors
Building Details
Year built
1895
Floors in Building
2
Flooring type
Wood, Tile, Concrete
Building materials
Brick, Frame
Roof type
Shingle, Rubber
Listing Agency:
Howard Hanna Rand Realty
(845) 338-5252
Listed By:
Rodney Batista
(845) 300-2480
Added: Jul 9
Changed: Aug 4
Last Checked: Aug 27 at 6:06AM
MLS# 20263858
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 well-maintained 6-unit mixed-use apartment building includes three commercial storefronts on the first floor and three oversized one-bedroom, one-bath residential apartments on the second floor. All units are separately metered for gas and electricity, supporting straightforward utility management. Residents benefit from in-unit appliances including a washer/dryer, refrigerator, and oven, along with an electric water heater. The property also features plenty of off-street parking in a private lot.
Constructed in 1895 with brick and frame components, the building totals 7,316 square feet on a 0.03-acre lot. Heating includes hot water and heat pump systems along with natural gas, and cooling is provided via heat pump and window unit(s). The roof is rubber and shingle, with public water and public sewer service.
Commercial and residential tenants are currently on month-to-month leases, offering flexibility for future ownership. The property is located in the Village of Saugerties, about 3 minutes from Main street and the NYS Thruway.
Constructed in 1895 with brick and frame components, the building totals 7,316 square feet on a 0.03-acre lot. Heating includes hot water and heat pump systems along with natural gas, and cooling is provided via heat pump and window unit(s). The roof is rubber and shingle, with public water and public sewer service.
Commercial and residential tenants are currently on month-to-month leases, offering flexibility for future ownership. The property is located in the Village of Saugerties, about 3 minutes from Main street and the NYS Thruway.
Key Highlights
- 6‑unit mixed‑use building: 3 storefronts on the first floor and 3 one‑bedroom, one‑bath apartments on the second floor
- All units separately metered for gas and electricity
- Off‑street parking in a private lot
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
Apartment 5plus
$59.59M
$52.14M – $69.52M
NOI $4,171,019 @ 7.0% cap · market cap 278.25%
Second Best
Retail
$1.24M
$1.09M – $1.45M
NOI $87,112 @ 7.0% cap · market cap 5.81%
Theoretical Best
Multifamily LT 5
$68.42M
$59.87M – $79.82M
NOI $4,789,225 @ 7.0% cap · market cap 319.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 6-unit mixed-use building with three ground-floor storefronts and three one-bedroom apartments, separately metered utilities.
Where is this apartment building located?
The property is located at 141 Ulster Avenue 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: 6‑unit mixed‑use building: 3 storefronts on the first floor and 3 one‑bedroom, one‑bath apartments on the second floor; All units separately metered for gas and electricity; Off‑street parking in a private lot
