Kingston Industrial Property for
For Sale
$2,799,999
15 Deyo Street, Kingston, NY 12401
39,000 SF industrial property in Kingston's Midtown district.
Property Size36,161 SF
Lot Size2.20 Acres
Price / SF$71.79
Days on Market275
Property Features for 15 Deyo Street
General Information
Standard status
Active
Size
36,161 SF
Lot size
2.20 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$32,781
Building Details
Building Size
36,161 SF
Year Built
1930
Listing Agency:
Win Morrison Realty
Listed By:
Winton Morrison · License #37MO0764882
(845) 339-9999
Source:
Berardirealty
Added: Dec 4, 2025
Changed: Sep 2
Last Checked: Sep 5 at 8:26AM
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 Win Morrison Realty
Investment Insights
Based on property information with market context.
Located in the heart of Kingston's rapidly transforming Midtown district, 15 Deyo Street offers approximately 39,000 square feet of single-story brick construction on a 2.2-acre lot. Originally built in the 1930s and used as a plating factory, the property features tall ceilings, exposed trusses, continuous natural light through large industrial windows and multiple skylights, and an open column grid. The fully sprinklered interior includes two drive-in bays that provide easy access for vehicles and loading. The property is located off Albany Avenue, Kingston's main commercial corridor, and offers convenient access to regional transit, the Thruway (I-87), and both Downtown and Uptown Kingston. The property is suitable for light manufacturing, creative production, or redevelopment, and has an array of potential uses, from warehousing, fabrication, or studio production to artist lofts, live/work spaces, or boutique residential conversions (subject to municipal approvals). Its generous floor area and solid brick construction lend themselves naturally to creative redevelopment while maintaining excellent fundamentals for industrial or logistics users.
Key Highlights
- Large 39,000 sq ft single‑story brick building on a 2.2‑acre lot offers substantial space and redevelopment potential.
- Located in Kingston's rapidly transforming Midtown district, providing access to a dynamic and culturally active market.
- Features tall ceilings, exposed trusses, large industrial windows, and multiple skylights, providing character and abundant natural light.
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
$228,992
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
8.18%
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%
$4,579,840
$4.6M
Cap Rate 7%
$3,271,314
$3.3M
Cap Rate 9%
$2,544,356
$2.5M
Market Conditions
NOI Build-Up for 39,000 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
$351.0K $9.00/SF
− Vacancy
−$23.9K −$0.61/SF
EGI
$327.1K $8.39/SF
− OpEx
−$98.1K −$2.52/SF
NOI
$229.0K $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%
$4,579,840
Cap Rate 7%
$3,271,314
Cap Rate 9%
$2,544,356
Alternative Uses
Best Use
Flex RnD
$8.73M
$7.64M – $10.19M
NOI $611,442 @ 7.0% cap · market cap 21.84%
Second Best
Warehouse
$4.50M
$3.94M – $5.26M
NOI $315,316 @ 7.0% cap · market cap 11.26%
Theoretical Best
Multifamily LT 5
$364.72M
$319.13M – $425.51M
NOI $25,530,314 @ 7.0% cap · market cap 911.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12401, NY
35,493
Population
16,914
Households
2.1
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
58.9 sq mi
ZIP Area
603
Density / Sq Mi
$67,426
Median Household Income
$42,503
Median Earnings
$1,300
Median Rent
$285,700
Median Home Value
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 - 39,000 SF industrial property in Kingston's Midtown district.
Where is this flex space located?
The property is located at 15 Deyo Street Kingston, NY.
What is the asking price?
The asking price for this property is $2,799,999.
What are key features of this property?
This property features: Large 39,000 sq ft single‑story brick building on a 2.2‑acre lot offers substantial space and redevelopment potential.; Located in Kingston's rapidly transforming Midtown district, providing access to a dynamic and culturally active market.; Features tall ceilings, exposed trusses, large industrial windows, and multiple skylights, providing character and abundant natural light.
