Mixed-Use Brewery
For Sale
$2,575,000
22 Cottage Street, Middletown, NY 10940
The renovated factory combines a brewery and restaurant with event areas, axe throwing, and five apartments.
Property Size23,400 SF
Price / SF$110.04
Days on Market423
Property Features for 22 Cottage Street
General Information
Standard status
Active
Size
23,400 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Patio
Yes
Multifamily Units
5
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$64,000
Amenities
beer garden
axe-throwing venue
live entertainment
private event hosting
Building Details
Building Size
23,400 SF
Buildings
1
Units
6
Listing Agency:
Keller Williams Realty
(845) 928-8000
Listed By:
Chris Scibelli · License #10491200206
(845) 494-3749
Source:
Croninreale
Added: Aug 28, 2025
Changed: Oct 23
Last Checked: Oct 23 at 5:56PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
A renovated 19th-century factory in Middletown houses a brewery and restaurant alongside five residential apartments. The venue includes a taproom, banquet room, separate entertainment area, and dedicated axe-throwing lanes. Its outdoor beer garden has a stone facade and red-brick patio, with space used for dining, drinks, and private gatherings during warmer months.
The business is operating and has event bookings extending into 2026. Programming includes live music, DJ nights, trivia, and seasonal events; private functions include weddings, parties, and corporate gatherings. Public parking is available for visitors.
The business is operating and has event bookings extending into 2026. Programming includes live music, DJ nights, trivia, and seasonal events; private functions include weddings, parties, and corporate gatherings. Public parking is available for visitors.
Key Highlights
- Five residential apartments within the renovated factory building
- 7,500‑square‑foot outdoor area with stone facade and red‑brick patio
- Brewery and restaurant with taproom, banquet room, and separate entertainment area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,756
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,075,120
$4.1M
Cap Rate 7%
$2,910,800
$2.9M
Cap Rate 9%
$2,263,956
$2.3M
Market Conditions
NOI Build-Up for 23,400 SF
Gross rent
$379.1K $16.20/SF
− Vacancy
−$53.1K −$2.27/SF
EGI
$326.0K $13.93/SF
− OpEx
−$122.3K −$5.22/SF
NOI
$203.8K $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%
$4,075,120
Cap Rate 7%
$2,910,800
Cap Rate 9%
$2,263,956
Alternative Uses
Best Use
Apartment 5plus
$6.25M
$5.47M – $7.30M
NOI $437,708 @ 7.0% cap · market cap 17.00%
Second Best
Mixed Use
$2.91M
$2.55M – $3.40M
NOI $203,756 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$7.93M
$6.93M – $9.25M
NOI $554,771 @ 7.0% cap · market cap 21.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,550
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The renovated factory combines a brewery and restaurant with event areas, axe throwing, and five apartments.
Where is this mixed-use property located?
The property is located at 22 Cottage Street Middletown, NY.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: Five residential apartments within the renovated factory building; 7,500‑square‑foot outdoor area with stone facade and red‑brick patio; Brewery and restaurant with taproom, banquet room, and separate entertainment area
