Historic Mixed-Use Property with
For Sale
$999,900
206 Greycourt Road, Chester, NY 10918
OP zoning, multiple structures, and three separate water meters support varied configurations.
Property Size4,032 SF
Days on Market91
Property Features for 206 Greycourt Road
General Information
Standard status
Active
Size
4,032 SF
Property subtype
Commercial
Zoning
OP
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,462
Building Details
Building Size
4,032 SF
Year Built
1870
Buildings
4
Stories
2
Units
3
Construction
Victorian
Listing Agency:
Cronin & Company Real Estate
(845) 494-3678
Listed By:
Frank Muccari
(845) 494-3678
Source:
Mahlerrealty
Added: Jun 1
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 Cronin & Company Real Estate
Investment Insights
Based on property information with market context.
Located at 206 Greycourt Road in Chester, this mixed-use property combines a Victorian residence with a detached rental home and two substantial barns. The principal residence includes a front porch, grand foyer, formal living and dining rooms, a family room with high ceilings and original hardwood floors, a kitchen, four bedrooms, a sitting room, a full bathroom, laundry, and a walk-up attic. The historic original structure now functions as a garage.
The separate two-bedroom, one-bath home is currently rented and adds an income-producing component to the property. Two barn buildings provide space for storage, workshops, restoration, adaptive reuse, event-oriented concepts, or specialty commercial applications, subject to applicable approvals. Public water service and three individual water meters are already in place.
The property is located within the Town of Chester’s OP zoning district, with access to Route 17 and proximity to Chester, Goshen, and Monroe. The Monroe Woodbury School District, Heritage Trail, local restaurants, farm markets, and recreational destinations are also identified among the surrounding amenities.
The separate two-bedroom, one-bath home is currently rented and adds an income-producing component to the property. Two barn buildings provide space for storage, workshops, restoration, adaptive reuse, event-oriented concepts, or specialty commercial applications, subject to applicable approvals. Public water service and three individual water meters are already in place.
The property is located within the Town of Chester’s OP zoning district, with access to Route 17 and proximity to Chester, Goshen, and Monroe. The Monroe Woodbury School District, Heritage Trail, local restaurants, farm markets, and recreational destinations are also identified among the surrounding amenities.
Key Highlights
- OP zoning within the Town of Chester
- Victorian residence with four bedrooms, sitting room, walk‑up attic, and original hardwood floors
- Detached 2‑bedroom, 1‑bath home currently rented
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
$75,420
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
7.54%
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%
$1,508,400
$1.5M
Cap Rate 7%
$1,077,429
$1.1M
Cap Rate 9%
$838,000
$838.0K
Market Conditions
NOI Build-Up for 4,032 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
$142.2K $35.28/SF
− Vacancy
−$5.1K −$1.27/SF
EGI
$137.1K $34.01/SF
− OpEx
−$61.7K −$15.30/SF
NOI
$75.4K $18.71/SF
Area
Orange County, NY
Vacancy
3.60%
Lease Rate
$35.28 /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%
$1,508,400
Cap Rate 7%
$1,077,429
Cap Rate 9%
$838,000
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$942.8K – $1.26M
NOI $75,420 @ 7.0% cap · market cap 7.54%
Second Best
Mixed Use
$501.6K
$438.9K – $585.2K
NOI $35,109 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,591 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 10918, NY
12,547
Population
4,607
Households
2.7
Avg Household Size
41
Median Age
41%
College-Educated
97%
High-School Grad
32.6 sq mi
ZIP Area
385
Density / Sq Mi
$147,011
Median Household Income
$63,010
Median Earnings
$1,652
Median Rent
$424,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - OP zoning, multiple structures, and three separate water meters support varied configurations.
Where is this mixed-use property located?
The property is located at 206 Greycourt Road Chester, NY.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: OP zoning within the Town of Chester; Victorian residence with four bedrooms, sitting room, walk‑up attic, and original hardwood floors; Detached 2‑bedroom, 1‑bath home currently rented
