Mixed-Use Building with
21 North St, Middletown, NY 10940
For Sale
New
$595,000
Two levels offer separate commercial spaces, with the upper floor also described as convertible to apartments.
Property Size5,912 SF
Price / SF$100.64
Days on Market4
Property Features for 21 North St
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Buildings
Stories
Listing Agency:
MS REALTY GROUP USA, INC
Listed By:
Moses Schreiber
(718) 873-7455
Source:
Elliman
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 8 at 6:02AM
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 MS REALTY GROUP USA, INC
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Investment Insights
Based on property information with market context.
This two-story mixed-use property has 2,956 square feet on each level. The first floor is suited to storefront use, while the second floor can serve commercial use or be converted to apartments. The building was previously used as an art gallery.
Located at 21 North Street in downtown Middletown, the property is in a mixed-use zoning district. Public parking lots and street parking are available nearby.
Located at 21 North Street in downtown Middletown, the property is in a mixed-use zoning district. Public parking lots and street parking are available nearby.
Key Highlights
- Two levels, each with 2,956 square feet
- First floor configured for storefront use
- Second level described for commercial use or conversion to apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,479
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,580
$1.0M
Cap Rate 7%
$735,414
$735.4K
Cap Rate 9%
$571,989
$572.0K
Market Conditions
NOI Build-Up for 5,912 SF
Gross rent
$95.8K $16.20/SF
− Vacancy
−$13.4K −$2.27/SF
EGI
$82.4K $13.93/SF
− OpEx
−$30.9K −$5.22/SF
NOI
$51.5K $8.71/SF
Area
Orange County, NY
Vacancy
14.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,580
Cap Rate 7%
$735,414
Cap Rate 9%
$571,989
Alternative Uses
Best Use
Retail
$1.03M
$899.5K – $1.20M
NOI $71,958 @ 7.0% cap · market cap 12.09%
Second Best
Mixed Use
$735.4K
$643.5K – $858.0K
NOI $51,479 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,163 @ 7.0% cap · market cap 23.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 33%
Sunoco
Shops & Services
4,521 visits/mo
0.4 miles
El Azteca
Dining
3,555 visits/mo
0.3 miles
Valero Energy
Shops & Services
2,555 visits/mo
0.1 miles
Demographics for 10940, NY
52,803
Population
19,930
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
63.1 sq mi
ZIP Area
837
Density / Sq Mi
$87,198
Median Household Income
$46,435
Median Earnings
$1,600
Median Rent
$301,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Middletown, NY
Properties on Market for Mixed-use properties in Middletown
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two levels offer separate commercial spaces, with the upper floor also described as convertible to apartments.
Where is this mixed-use property located?
The property is located at 21 North St Middletown, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two levels, each with 2,956 square feet; First floor configured for storefront use; Second level described for commercial use or conversion to apartments
