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    Mixed-Use Investment Opportunity Title is generated by Realmo AI

    1950-1958 Ulster Avenue, Lake Katrine, NY 12449

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    Claim this Listing
    For Sale
    $399,000

    MULTI_FAMILY - Lake Katrine, NY

    Property size:
    1,874 SF
    Lot size:
    0.95 Acres
    Price / SF:
    $212/SF
    Added:
    Apr 22, 2026
    Days on Market:
    18
    Last Refresh:
    May 9 at 1:06 am

    Property Features for 1950-1958 Ulster Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    35
    Bedrooms
    4
    Rooms
    Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4
    Parking features
    Off Street, On Street
    Patio and Porch features
    Porch
    Standard status
    Active
    APN
    39.16-1-25
    Size
    1,874 SF
    Lot size
    0.95 Acres

    Taxes and HOA fees

    Tax Annual Amount
    11818

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Water source
    Public

    Building Details

    Year built
    1934
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Hardwood, Combination, Linoleum, Carpet
    Roof type
    Asbestos Shingle

    We can help!

    Listing Contact
    Nicole Polito
    Nicole Polito

    Listing agent Nicole Polito

    Listing office Coldwell Banker Village Green 11-13 Mill Hill Road, Kingston, NY

    Listing date Apr 22, 2026

    MLS# 20261785 Listing URL

    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.

    HighLights

    • Prime location with high visibility and traffic exposure, minutes from Kingston and Saugerties.
    • Mixed‑use property with income‑generating potential: commercial space and two residential units.
    • Flexible ground‑floor commercial space suitable for various businesses.
    • Spacious and well‑maintained two‑bedroom apartment above the commercial space with additional third‑floor space.
    • Charming, updated two‑bedroom cottage on an adjoining parcel with enclosed sunporch and covered deck.
    • Additional parking at the cottage, offering flexibility and potential for expanded commercial use.

    Overview

    This mixed-use property presents an investment opportunity in a location with high traffic exposure, situated minutes from Kingston and Saugerties. The main building includes a ground-floor commercial space suitable for an office, boutique, or retail use. The space previously housed a delicatessen and a tattoo studio. Above the commercial unit is a two-bedroom apartment featuring a living room, dining room, and additional third-floor space suitable for a home office, studio, or storage. Also included is a two-bedroom, one-bath cottage with an enclosed front sunporch, covered rear deck, updated interior, and a spacious kitchen and dining area. The cottage was previously used as a rental. Additional parking is available at the cottage. The property, situated on a 0.95-acre lot, blends residential and commercial opportunities. The main building has 1874 square feet of space. The property is zoned 35 and is located in Lake Katrine, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Katrine
    County
    Ulster
    State
    New York
    Longitude
    -73.986598
    Latitude
    41.989918

    Nearby Similar for Sale

    • $399,000
      3,268 SF

      Versatile Mixed-Use Investment Opportunity

      Income-generating property with commercial space and residential units.
      1950-1958 Ulster Avenue, Lake Katrine, NY 12449
      View Details
    • $795,000
      6,273 SF

      Versatile Commercial Property with Income Potential

      Commercial property with restaurant, office, apartments, and duplex.
      3 And 11 Lohmaier Lane, Lake Katrine, NY 12449
      View Details
    • $795,000
      6,273 SF

      Versatile Commercial Property with Income

      Mixed-use property with restaurant, apartments, and duplex for sale.
      3 And 11 Lohmaier Lane, Lake Katrine, NY 12449
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile property with commercial space, apartment, and cottage.
    Where is this mixed-use property located?
    The property is located at 1950-1958 Ulster Avenue Lake Katrine, NY.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Prime location with high visibility and traffic exposure, minutes from Kingston and Saugerties.; Mixed‑use property with income‑generating potential: commercial space and two residential units.; Flexible ground‑floor commercial space suitable for various businesses.
    (845) 430-2045
    We can help!
    Listing Contact
    Nicole Polito
    Nicole Polito
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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