Commercial Land with Multiple Access
For Sale
$799,000
188 S Main Street, Ellenville, NY 12428
COMMERCIAL - Ellenville, NY
Property Size6,000 SF
Lot Size2.60 Acres
Price / SF$133.17
Days on Market117
Property Features for 188 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Elementary school
Ellenville Elementary School
Middle school
ELLENVILLE JUNIOR/SENIOR HIGH SCHOOL
High school
ELLENVILLE JUNIOR/SENIOR HIGH SCHOOL
Elementary school district
Ellenville
Middle school district
Ellenville
High school district
Ellenville
Standard status
Active
APN
5601-091.021-0001-006.000-0000
Lot size
2.60 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4716
Utilities
Sewer type
Public Sewer
Water source
Public
Listing Agency:
Century 21 Stoeckeler RE
(845) 706-4334
Listed By:
Mary F. Sheeley · License #10491209206
(845) 706-4334
Added: Apr 22
Changed: Aug 4
Last Checked: Aug 16 at 6:06PM
MLS# 988916
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 2.6-acre commercial land offering includes two parcels and approximately 6,000 square feet across three separate commercial buildings. The property also includes two mobile homes and an 11,000-square-foot pad, creating an existing improved site with multiple components. Public water and public sewer are in place, while B-3 zoning supports retail, restaurant, professional office, medical, and personal service uses.
Access is provided from both US Route 209 and Country Club Road. The site has two existing curb cuts on Route 209, plus a separate Country Club Road entrance serving the mobile homes. Its position at the southern approach to the Village of Ellenville places the property along a commercial corridor with northbound traffic. Existing improvements can remain in use while the site is evaluated for future planning or redevelopment.
Access is provided from both US Route 209 and Country Club Road. The site has two existing curb cuts on Route 209, plus a separate Country Club Road entrance serving the mobile homes. Its position at the southern approach to the Village of Ellenville places the property along a commercial corridor with northbound traffic. Existing improvements can remain in use while the site is evaluated for future planning or redevelopment.
Key Highlights
- 2.6‑acre offering comprising two parcels
- Approximately 6,000 square feet across three commercial buildings
- 11,000‑square‑foot pad included on site
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
$71,442
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
8.94%
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%
$1,428,840
$1.4M
Cap Rate 7%
$1,020,600
$1.0M
Cap Rate 9%
$793,800
$793.8K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$5.9K −$0.99/SF
EGI
$102.1K $17.01/SF
− OpEx
−$30.6K −$5.10/SF
NOI
$71.4K $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%
$1,428,840
Cap Rate 7%
$1,020,600
Cap Rate 9%
$793,800
Alternative Uses
Best Use
Retail
$1.02M
$893.0K – $1.19M
NOI $71,442 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$56.11M
$49.10M – $65.46M
NOI $3,927,741 @ 7.0% cap · market cap 491.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Home Improvements & Furnishings 18%
Valero Energy
Shops & Services
5,603 visits/mo
0.5 miles
Dollar General
Shops & Services
4,301 visits/mo
0.4 miles
Ace Hdwe Of Ellenville
Home Improvements & Furnishings
3,571 visits/mo
0.3 miles
Citgo
Shops & Services
3,521 visits/mo
0.5 miles
Mobil
Shops & Services
3,307 visits/mo
0.2 miles
Demographics for 12428, NY
6,969
Population
3,762
Households
1.9
Avg Household Size
40
Median Age
26%
College-Educated
87%
High-School Grad
55.1 sq mi
ZIP Area
126
Density / Sq Mi
$78,802
Median Household Income
$45,868
Median Earnings
$1,073
Median Rent
$200,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - B-3-zoned commercial site with existing buildings, public utilities, and access from two roads.
Where is this commercial land located?
The property is located at 188 S Main Street Ellenville, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2.6‑acre offering comprising two parcels; Approximately 6,000 square feet across three commercial buildings; 11,000‑square‑foot pad included on site
