Mixed-Use Live-Work
For Sale
$399,000
Pending
19501958 Ulster Avenue, Lake Katrine, NY 12449
Mixed-use building with ground-floor commercial space and an above apartment, plus an included two-bedroom cottage.
Property Size3,268 SF
Days on Market135
Property Features for 19501958 Ulster Avenue
General Information
Standard status
Pending
Size
3,268 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,818
Amenities
3
0.95
Back Yard, Front Yard, Freestanding. Suburban, County Road, US Highway.
Building Details
Year Built
1934
Stories
3
Listing Agency:
(845) 430-2045
Listed By:
Coldwell Banker Village Green
(845) 430-2045
Source:
Xome
Added: Apr 20
Changed: Aug 31
Last Checked: Sep 1 at 2:41PM
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 Coldwell Banker Village Green
Investment Insights
Based on property information with market context.
The property includes a main mixed-use building with a bright, light-filled ground-floor commercial space and a spacious two-bedroom apartment above. The apartment is described as well-maintained and includes a generous living room and dining room, with additional third-floor space suitable for flexible everyday use such as a home office, studio, or extra storage. An adjoining parcel adds a two-bedroom, one-bath cottage with an enclosed front sunporch, a covered rear deck, an updated interior, and a spacious kitchen and dining area.
The listing notes strong visibility and high traffic exposure, and describes the location as minutes from Kingston and Saugerties. Access and parking are described as part of the overall setup, including additional parking at the cottage, with the listing indicating that expanded commercial use may be possible with proper permits.
Overall, the configuration supports multiple occupancy options: the ground-floor commercial unit and the apartment can be combined for live-work use, or maintained as separate rental units. A 3D walkthrough is available in the digital Lookbook or by request.
The listing notes strong visibility and high traffic exposure, and describes the location as minutes from Kingston and Saugerties. Access and parking are described as part of the overall setup, including additional parking at the cottage, with the listing indicating that expanded commercial use may be possible with proper permits.
Overall, the configuration supports multiple occupancy options: the ground-floor commercial unit and the apartment can be combined for live-work use, or maintained as separate rental units. A 3D walkthrough is available in the digital Lookbook or by request.
Key Highlights
- Mixed‑use property built in 1934 with ground‑floor commercial space and an above 2‑bedroom apartment
- Ground‑floor commercial space previously used as a delicatessen and later a tattoo studio
- Above apartment includes a generous living room and dining room plus additional third‑floor space for office or storage
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
$34,559
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
8.66%
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%
$691,180
$691.2K
Cap Rate 7%
$493,700
$493.7K
Cap Rate 9%
$383,989
$384.0K
Market Conditions
NOI Build-Up for 3,268 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
$58.8K $18.00/SF
− Vacancy
−$3.5K −$1.08/SF
EGI
$55.3K $16.92/SF
− OpEx
−$20.7K −$6.34/SF
NOI
$34.6K $10.58/SF
Area
Ulster County, NY
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$691,180
Cap Rate 7%
$493,700
Cap Rate 9%
$383,989
Alternative Uses
Best Use
Office B
$917.0K
$802.4K – $1.07M
NOI $64,192 @ 7.0% cap · market cap 16.09%
Second Best
Mixed Use
$493.7K
$432.0K – $576.0K
NOI $34,559 @ 7.0% cap · market cap 8.66%
Theoretical Best
Multifamily LT 5
$30.56M
$26.74M – $35.66M
NOI $2,139,309 @ 7.0% cap · market cap 536.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 12449, NY
3,386
Population
1,194
Households
2.8
Avg Household Size
49
Median Age
28%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
915
Density / Sq Mi
$75,268
Median Household Income
$53,472
Median Earnings
$1,571
Median Rent
$226,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use building with ground-floor commercial space and an above apartment, plus an included two-bedroom cottage.
Where is this live-work space located?
The property is located at 19501958 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: Mixed‑use property built in 1934 with ground‑floor commercial space and an above 2‑bedroom apartment; Ground‑floor commercial space previously used as a delicatessen and later a tattoo studio; Above apartment includes a generous living room and dining room plus additional third‑floor space for office or storage
