Dual-Building Office
For Sale
$649,999
2300 State Route 208 State Route 208 #2288 & 2290, Montgomery, NY 12549
B-2-zoned commercial property with private offices, flexible work areas, ADA features, and separate storage in both buildings.
Property Size3,419 SF
Lot Size1.00 Acre
Days on Market79
Property Features for 2300 State Route 208 State Route 208 #2288 & 2290
General Information
Standard status
Active
Size
3,419 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$20,585
Amenities
private wooden deck
full basement
kitchenette
conference room
ADA-compliant
Building Details
Building Size
3,419 SF
Year Built
1999
Buildings
2
Units
2
Listing Agency:
Keller Williams Realty
(845) 494-4715
Listed By:
Richard Baxter · License #10401254733
(845) 494-4715
Source:
Maurafinnegan
Added: Jun 13
Changed: Aug 29
Last Checked: Aug 30 at 5:45PM
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
Investment Insights
Based on property information with market context.
This office property comprises two buildings on a one-acre commercial parcel. The primary 2,300-square-foot structure includes private offices, built-in workstations, a kitchenette, multiple bathrooms, an open-concept room, an executive suite, and a full basement. The second building contains 1,264 square feet in a single-level layout with reception and waiting areas, a kitchenette, centralized office space, four private rooms, a bathroom, and its own basement. ADA-related features include an accessible bathroom in the main building and an entrance ramp at the secondary structure.
The property is zoned B-2 and fronts State Route 208, providing roadside exposure along the corridor between Montgomery and Walden. It has access from two points, including State Route 208, and is located one mile from the Interstate 84 intersection. The buildings are configured for professional office use, personal services, and flexible multi-tenant occupancy as described for the B-2 district. Built in 1999, the compound offers separate structures with varied office, meeting, storage, and administrative areas.
The property is zoned B-2 and fronts State Route 208, providing roadside exposure along the corridor between Montgomery and Walden. It has access from two points, including State Route 208, and is located one mile from the Interstate 84 intersection. The buildings are configured for professional office use, personal services, and flexible multi-tenant occupancy as described for the B-2 district. Built in 1999, the compound offers separate structures with varied office, meeting, storage, and administrative areas.
Key Highlights
- Two‑building office property on a 1‑acre parcel
- 2,300‑square‑foot primary building with private offices, executive suite, open‑concept room, and full basement
- 1,264‑square‑foot secondary building with reception area, four private rooms, kitchenette, bathroom, and private basement
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
$57,209
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
8.80%
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%
$1,144,180
$1.1M
Cap Rate 7%
$817,271
$817.3K
Cap Rate 9%
$635,656
$635.7K
Market Conditions
NOI Build-Up for 3,419 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
$91.9K $26.88/SF
− Vacancy
−$15.6K −$4.57/SF
EGI
$76.3K $22.31/SF
− OpEx
−$19.1K −$5.58/SF
NOI
$57.2K $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%
$1,144,180
Cap Rate 7%
$817,271
Cap Rate 9%
$635,656
Alternative Uses
Best Use
Healthcare Medical
$868.5K
$759.9K – $1.01M
NOI $60,794 @ 7.0% cap · market cap 9.35%
Second Best
Office B
$817.3K
$715.1K – $953.5K
NOI $57,209 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,058 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
11
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 - B-2-zoned commercial property with private offices, flexible work areas, ADA features, and separate storage in both buildings.
Where is this office building located?
The property is located at 2300 State Route 208 State Route 208 #2288 & 2290 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 property on a 1‑acre parcel; 2,300‑square‑foot primary building with private offices, executive suite, open‑concept room, and full basement; 1,264‑square‑foot secondary building with reception area, four private rooms, kitchenette, bathroom, and private basement
