Building Details

Year Built 1970

Buildings 1

Building Size 1,200 SF

Listing Agency: Malek Properties, Inc. c***@malekproperties.com Show Phone

Listed By: Carol Malek · License #31MA1121533 Show Phone

Source: Compass

Added: Feb 15, 2025 Changed: Aug 31 Last Checked: Aug 31 at 3:21AM

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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 Malek Properties, Inc.

Investment Insights

Based on property information with market context.

This manufacturing property includes a 1200+/- square foot workshop that has supported woodworking and picture frame production. The building is equipped with three-phase electric service and includes woodworking tools, picture frame manufacturing equipment, and an inventory of wood molding. Oil/kerosene forced-warm-air heat, a shallow well, and a small septic system are in use.

The property encompasses 27+ acres divided by Shore Road, with approximately 7+/- acres surrounding the workshop and approximately 20+/- acres across the road. The building parcel previously included a mobile home that has been removed. Any subdivision would be subject to town approval. The address is near the White Sulphur Springs business district, the Village of Liberty, Rt 17 access, Bethel Woods Center for the Arts, and area lakes.

Key Highlights

• 27+ acres divided by Shore Road
• 1200+/- square foot workshop built in 1970
• Three‑phase electric service for manufacturing operations

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

$12,206

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

3.49%

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%

$244,120 $244.1K

Cap Rate 7%

$174,371 $174.4K

Cap Rate 9%

$135,622 $135.6K

Market Conditions

NOI Build-Up for 1,200 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

$15.4K $12.84/SF

− Vacancy

−$1.0K −$0.87/SF

EGI

$14.4K $11.97/SF

− OpEx

−$2.2K −$1.80/SF

NOI

$12.2K $10.17/SF

Area

Sullivan County, NY

Vacancy

6.80%

Lease Rate

$12.84 /SF/Yr

Expense Ratio

15.00%

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%

$244,120

Cap Rate 7%

$174,371

Cap Rate 9%

$135,622

Alternative Uses

Best Use

Warehouse

$174.4K

$152.6K – $203.4K (±1% cap)

NOI $12,206 @ 7.0% cap · market cap 3.49%

Second Best

Industrial

$143.6K

$125.7K – $167.5K (±1% cap)

NOI $10,052 @ 7.0% cap · market cap 2.87%

Theoretical Best

Office A

$329.1K

$288.0K – $384.0K (±1% cap)

NOI $23,040 @ 7.0% cap · market cap 6.58%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Food Market Accounting Firm Bar & Pub Car Rental Facility Auto Repair Shop

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

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Explore this area Business Placement

Demographics for 12783, NY

1,388

Population

1,473

Households

0.9

Avg Household Size

50

Median Age

24%

College-Educated

88%

High-School Grad

31.7 sq mi

ZIP Area

44

Density / Sq Mi

$60,781

Median Household Income

$46,989

Median Earnings

$1,354

Median Rent

$209,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Woodworking equipment and molding inventory accompany the workshop, with well and septic service in place.

Where is this manufacturing property located?

The property is located at 153 Shore Road Swan Lake, NY.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: 27+ acres divided by Shore Road; 1200+/- square foot workshop built in 1970; Three‑phase electric service for manufacturing operations