Dual-Building Office
For Sale
$649,999
2300 State Route 208 State Route 208, Montgomery, NY 12549
Commercial Sale, Montgomery, NY
Property Size3,564 SF
Lot Size1.00 Acre
Price / SF$182.38
Days on Market94
Property Features for 2300 State Route 208 State Route 208
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
B-2
Rooms
Basement
Parking features
Parking Lot
Basement
Unfinished
Accessibility
Accessible Approach with Ramp
Lot features
Cleared, Level, Near Public Transit
Elementary school
Berea Elementary School
Middle school
Valley Central Middle School
High school
Valley Central High School
Elementary school district
Valley Central (Montgomery)
Middle school district
Valley Central (Montgomery)
High school district
Valley Central (Montgomery)
Standard status
Active
APN
334289-020-000-0001-056.100-0000
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
20585
Utilities
Utilities
Phone Available
Sewer type
Septic Tank
Heating system
Baseboard
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Well
Building Details
Year built
1999
Number of units
2
Flooring type
Laminate, Combination, Hardwood
Building materials
Frame
Listing Agency:
Keller Williams Realty
(845) 928-8000
Listed By:
Richard Baxter · License #10401254733
(845) 494-4715
Added: Jun 3
Changed: Aug 20
Last Checked: Sep 4 at 8:06AM
MLS# 1000628
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property includes two frame buildings on a 1-acre parcel. The primary 2,300-square-foot building has two levels plus a full basement, with private offices, built-in workstations, a kitchenette, an accessible bathroom, additional upper-level bathrooms, and an adaptable open area for meetings or training. A private deck extends from the executive suite. The adjoining 1,264-square-foot former medical facility is arranged with reception and waiting areas, a kitchenette, central workspace, four private exam or meeting rooms, a bathroom, and its own basement.
Zoned B-2, the property is positioned along State Route 208 with access from two entry and exit points. The site is approximately one mile from the Interstate 84 intersection and has visibility along the highway corridor between Montgomery and Walden. On-site features include a parking lot, an ADA-compliant entrance ramp, well water, septic service, baseboard heat, and central air. The property was built in 1999.
Zoned B-2, the property is positioned along State Route 208 with access from two entry and exit points. The site is approximately one mile from the Interstate 84 intersection and has visibility along the highway corridor between Montgomery and Walden. On-site features include a parking lot, an ADA-compliant entrance ramp, well water, septic service, baseboard heat, and central air. The property was built in 1999.
Key Highlights
- Two‑building office compound on 1 acre
- Primary building contains 2,300 square feet with two levels and a full basement
- Adjacent 1,264‑square‑foot former medical facility includes four exam or meeting rooms
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
$59,636
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
9.17%
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%
$1,192,720
$1.2M
Cap Rate 7%
$851,943
$851.9K
Cap Rate 9%
$662,622
$662.6K
Market Conditions
NOI Build-Up for 3,564 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
$95.8K $26.88/SF
− Vacancy
−$16.3K −$4.57/SF
EGI
$79.5K $22.31/SF
− OpEx
−$19.9K −$5.58/SF
NOI
$59.6K $16.73/SF
Area
Orange County, NY
Vacancy
17.00%
Lease Rate
$26.88 /SF/Yr
Expense Ratio
25.00%
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%
$1,192,720
Cap Rate 7%
$851,943
Cap Rate 9%
$662,622
Alternative Uses
Best Use
Healthcare Medical
$905.3K
$792.2K – $1.06M
NOI $63,372 @ 7.0% cap · market cap 9.75%
Second Best
Office B
$851.9K
$745.5K – $993.9K
NOI $59,636 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,496 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 12549, NY
10,349
Population
3,918
Households
2.6
Avg Household Size
42
Median Age
35%
College-Educated
93%
High-School Grad
38.7 sq mi
ZIP Area
267
Density / Sq Mi
$125,000
Median Household Income
$66,250
Median Earnings
$1,606
Median Rent
$377,300
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?
Office building - Two office buildings offer private rooms, flexible work areas, dedicated storage, and accessible entry features.
Where is this office building located?
The property is located at 2300 State Route 208 State Route 208 Montgomery, NY.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Two‑building office compound on 1 acre; Primary building contains 2,300 square feet with two levels and a full basement; Adjacent 1,264‑square‑foot former medical facility includes four exam or meeting rooms
