Multifamily Campus with River
For Sale
$1,700,000
182 Route 209, Port Jervis, NY 12771
Commercial Sale, Port Jervis, NY
Property Size11,283 SF
Lot Size13.60 Acres
Price / SF$150.67
Days on Market50
Property Features for 182 Route 209
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
20
Parking features
Parking Lot
Basement
Unfinished
Appliances
Microwave, Oven, Refrigerator
Subdivision
Sober Village
Lot features
Level, Part Wooded, Split Possible
View
Water, River
Elementary school
East Main Street Elementary School
Middle school
Port Jervis Middle School
High school
Port Jervis Senior High School
Elementary school district
Port Jervis
Middle school district
Port Jervis
High school district
Port Jervis
Standard status
Active
APN
332800-053-000-0001-008.200-0000
Lot size
13.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
18818
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Propane (Heating), Baseboard
Cooling system
Central Air
Water source
Well, Private
Water front features
River Access, River Front, Beach Access, Waterfront
Water front
1
Amenities
garage/gym area
covered and enclosed porches
supporting storage
detached two-car garage
sheds
canopy structures
paved parking areas
Building Details
Year built
1970
Floors in Building
2
Number of units
16
Building materials
Aluminum Siding, Frame, Vinyl Siding
Additional Structures
Gazebo
Listing Agency:
KW Hudson Valley United · Keller Williams Realty
(845) 610-6065
Listed By:
Amanda Brehm · License #00000
(845) 741-5608
Added: Jul 8
Changed: Aug 20
Last Checked: Aug 26 at 12:06PM
MLS# 1021271
Copyright © 2026 OneKey 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 multifamily property comprises six separately deeded tax parcels totaling approximately 13.6 acres, with approximately 11,283 square feet across six principal buildings. The primary structure at 182 Route 209 contains approximately 4,176 square feet, 11 bedrooms, 3.5 bathrooms, a garage and gym area, covered and enclosed porches, and storage. Other improvements include residences with four bedrooms and two bathrooms, three bedrooms and one bathroom, and four bedrooms with an additional one-bedroom unit. A separate 2,880-square-foot building, detached two-car garage, sheds, canopy structures, and paved parking areas are also included.
The campus has extensive US Route 209 frontage and approximately 879 feet along the Neversink River, plus a separate 5.5-acre vacant parcel with frontage on both. Private wells and septic systems serve the improved parcels. The property is near Interstate 84, the Port Jervis train station, and recreational amenities associated with the Delaware River and Hudson Valley. Zoning, floodplain status, environmental conditions, permits, utility capacity, and future permitted uses require independent verification.
The campus has extensive US Route 209 frontage and approximately 879 feet along the Neversink River, plus a separate 5.5-acre vacant parcel with frontage on both. Private wells and septic systems serve the improved parcels. The property is near Interstate 84, the Port Jervis train station, and recreational amenities associated with the Delaware River and Hudson Valley. Zoning, floodplain status, environmental conditions, permits, utility capacity, and future permitted uses require independent verification.
Key Highlights
- Approximately 13.6 acres across six separately deeded tax parcels
- Approximately 11,283 square feet across six principal buildings
- Main building includes approximately 4,176 square feet, 11 bedrooms, and 3.5 bathrooms
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
$86,135
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
5.07%
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%
$1,722,700
$1.7M
Cap Rate 7%
$1,230,500
$1.2M
Cap Rate 9%
$957,056
$957.1K
Market Conditions
NOI Build-Up for 11,283 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
$170.6K $15.12/SF
− Vacancy
−$14.0K −$1.24/SF
EGI
$156.6K $13.88/SF
− OpEx
−$70.5K −$6.25/SF
NOI
$86.1K $7.63/SF
Area
Sullivan County, NY
Vacancy
8.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
45.00%
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%
$1,722,700
Cap Rate 7%
$1,230,500
Cap Rate 9%
$957,056
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,135 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.09M
$2.71M – $3.61M
NOI $216,634 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 12771, NY
14,423
Population
6,163
Households
2.3
Avg Household Size
41
Median Age
21%
College-Educated
91%
High-School Grad
34.6 sq mi
ZIP Area
417
Density / Sq Mi
$67,926
Median Household Income
$38,539
Median Earnings
$1,310
Median Rent
$246,100
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?
Multifamily property - Six separately deeded parcels combine residences, support buildings, private wells, and septic systems.
Where is this multifamily property located?
The property is located at 182 Route 209 Port Jervis, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 13.6 acres across six separately deeded tax parcels; Approximately 11,283 square feet across six principal buildings; Main building includes approximately 4,176 square feet, 11 bedrooms, and 3.5 bathrooms
