Historic Mixed-Use Property in
For Sale
$875,000
244 Greenwich Avenue, Goshen, NY 10924
Charming 1800s mixed-use property with business and residential potential.
Property Size3,500 SF
Lot Size0.67 Acres
Days on Market140
Property Features for 244 Greenwich Avenue
General Information
Standard status
Active
Size
3,500 SF
Total Parking Spaces
15
Lot size
0.67 Acres
Taxes and HOA fees
Annual Taxes
$9,000
Amenities
Electric, Wall/Window Unit(s)
Natural Gas, Steam
Partial, Storage Space, Unfinished, Walk-Out Access
Microwave, Refrigerator, Gas Water Heater
Neighborhood
Parking Lot, Private
Building Details
Building Size
3,500 SF
Year Built
1860
Buildings
1
Stories
2
Listing Agency:
INTEGRITY REAL ESTATE, INC.
(845) 551-5577
Listed By:
Marilyn D'Andrea
(845) 551-5577
Source:
Evrealestate
Added: Apr 7
Changed: Aug 23
Last Checked: Aug 24 at 3:54AM
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 INTEGRITY REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
This historic, charming mixed-use property from the 1800s is available for sale. It is suitable for business offices, a residential apartment combination, or multi-family use. Situated on a hill within a non-flood zone, the property includes a parking lot surrounding the building and occupies a double lot of 0.67 acres. Zoned CS - Central Shopping, it offers lots of potential and many uses, including professional offices for counselors, accountants, financial advisors, veterinarians, chiropractors, doctors, and dentists. Other potential uses include a cafe or salon. Located at 244 Greenwich Ave in the Village of Goshen, NY 10924, the property may accommodate 2-4 units. The location has a bike score of 64, indicating it is bikeable, and a walk score of 80, indicating it is very walkable.
Key Highlights
- Prime Commercial Zoning (CS) offering diverse opportunities
- Historic 1860's property with potential for mixed‑use
- Large double lot (.67 Acre) with ample parking
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
$30,476
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
3.48%
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%
$609,520
$609.5K
Cap Rate 7%
$435,371
$435.4K
Cap Rate 9%
$338,622
$338.6K
Market Conditions
NOI Build-Up for 3,500 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
$56.7K $16.20/SF
− Vacancy
−$7.9K −$2.27/SF
EGI
$48.8K $13.93/SF
− OpEx
−$18.3K −$5.22/SF
NOI
$30.5K $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 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%
$609,520
Cap Rate 7%
$435,371
Cap Rate 9%
$338,622
Alternative Uses
Best Use
Mixed Use
$435.4K
$381.0K – $507.9K
NOI $30,476 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $82,979 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 10924, NY
14,006
Population
5,178
Households
2.7
Avg Household Size
44
Median Age
42%
College-Educated
90%
High-School Grad
40.1 sq mi
ZIP Area
349
Density / Sq Mi
$114,567
Median Household Income
$64,567
Median Earnings
$1,668
Median Rent
$433,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Charming 1800s mixed-use property with business and residential potential.
Where is this mixed-use property located?
The property is located at 244 Greenwich Avenue Goshen, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Prime Commercial Zoning (CS) offering diverse opportunities; Historic 1860's property with potential for mixed‑use; Large double lot (.67 Acre) with ample parking
