Historic Four-Level Temple
For Sale
$1,699,000
220 Main Street, Saugerties, NY 12477
Built in 1930, this four-level property includes a third-floor ballroom and multiple income-producing creative spaces.
Property Size14,940 SF
Price / SF$169.90
Days on Market110
Property Features for 220 Main Street
General Information
Standard status
Active
Size
14,940 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$16,651
Building Details
Building Size
14,940 SF
Year Built
1930
Buildings
1
Stories
4
Listing Agency:
The Machree Group, LLC
(845) 853-4188
Listed By:
Kristabelle McDermott
(845) 853-4188
Source:
Cohenandcohenrealty
Added: May 7
Changed: Aug 24
Last Checked: Aug 23 at 5:54AM
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 The Machree Group, LLC
Investment Insights
Based on property information with market context.
Built in 1930, this historic Odd Fellows Temple has more than 10,000 square feet of character-filled space across four distinctive levels. The third-floor ballroom is the crown feature, offering a large, light-filled room with soaring ceilings and oversized windows. The first floor, spanning over 4,000 square feet, is currently operated as an antique store. The second floor is configured as art studios and is described as flexible for conversion back to residential apartments.
Located at 220 Main St in the center of Saugerties, the building’s design includes massive 8-foot windows throughout, bringing natural light to each level. WalkScore is 26 (car-dependent), and BikeScore is 24 (somewhat bikeable).
The existing multi-level layout, prominent ballroom space, and current retail and creative use make this property well-suited for buyers seeking a single asset with multiple functional spaces inside one historic structure.
Located at 220 Main St in the center of Saugerties, the building’s design includes massive 8-foot windows throughout, bringing natural light to each level. WalkScore is 26 (car-dependent), and BikeScore is 24 (somewhat bikeable).
The existing multi-level layout, prominent ballroom space, and current retail and creative use make this property well-suited for buyers seeking a single asset with multiple functional spaces inside one historic structure.
Key Highlights
- Built in 1930 as an Odd Fellows Temple, offering over 10,000 SF across four levels.
- Third‑floor ballroom features soaring ceilings and oversized windows for a light‑filled event space.
- First floor (~4,000+ SF) is currently operating as an antique store.
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
$119,070
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
7.01%
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%
$2,381,400
$2.4M
Cap Rate 7%
$1,701,000
$1.7M
Cap Rate 9%
$1,323,000
$1.3M
Market Conditions
NOI Build-Up for 10,000 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
$180.0K $18.00/SF
− Vacancy
−$9.9K −$0.99/SF
EGI
$170.1K $17.01/SF
− OpEx
−$51.0K −$5.10/SF
NOI
$119.1K $11.91/SF
Area
Ulster County, NY
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,381,400
Cap Rate 7%
$1,701,000
Cap Rate 9%
$1,323,000
Alternative Uses
Best Use
Office B
$2.81M
$2.46M – $3.27M
NOI $196,425 @ 7.0% cap · market cap 11.56%
Second Best
Retail
$1.70M
$1.49M – $1.98M
NOI $119,070 @ 7.0% cap · market cap 7.01%
Theoretical Best
Multifamily LT 5
$93.52M
$81.83M – $109.10M
NOI $6,546,234 @ 7.0% cap · market cap 385.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 12477, NY
18,559
Population
9,483
Households
2
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
66.7 sq mi
ZIP Area
278
Density / Sq Mi
$72,353
Median Household Income
$49,357
Median Earnings
$1,239
Median Rent
$292,100
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?
Retail space - Built in 1930, this four-level property includes a third-floor ballroom and multiple income-producing creative spaces.
Where is this retail space located?
The property is located at 220 Main Street Saugerties, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Built in 1930 as an Odd Fellows Temple, offering over 10,000 SF across four levels.; Third‑floor ballroom features soaring ceilings and oversized windows for a light‑filled event space.; First floor (~4,000+ SF) is currently operating as an antique store.
