Flex Space with Three Garage
For Sale
$299,999
29 Church Street #31, Port Jervis, NY 12771
Corner-lot building with open work areas, reception space, kitchen sink, and paved off-street parking.
Property Size2,370 SF
Price / SF$126.58
Days on Market105
Property Features for 29 Church Street #31
General Information
Standard status
Active
Size
2,370 SF
Total Parking Spaces
15
Property subtype
Commercial
Zoning
R2
Additional Details
Drive-In Doors
3
Building Details
Building Size
2,370 SF
Year Built
1965
Buildings
1
Stories
1
Units
1
Listing Agency:
KW Hudson Valley United
(518) 491-2585
Listed By:
Alyse Toffel · License #10401312176
(518) 491-2585
Source:
Cornerstonemyhome
Added: May 19
Changed: Aug 29
Last Checked: Aug 30 at 5:35PM
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 KW Hudson Valley United
Investment Insights
Based on property information with market context.
This approximately 2,370-square-foot flex space occupies a corner lot and includes three oversized overhead garage bays. Two bays measure approximately 9'2
Key Highlights
- Approximately 2,370 square feet on a corner lot
- Three oversized overhead garage bays
- Two bays approximately 9'2" and one approximately 10'5"
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
$24,107
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
8.04%
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%
$482,140
$482.1K
Cap Rate 7%
$344,386
$344.4K
Cap Rate 9%
$267,856
$267.9K
Market Conditions
NOI Build-Up for 2,370 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
$30.4K $12.84/SF
− Vacancy
−$2.1K −$0.87/SF
EGI
$28.4K $11.97/SF
− OpEx
−$4.3K −$1.80/SF
NOI
$24.1K $10.17/SF
Area
Sullivan County, NY
Vacancy
6.80%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
15.00%
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%
$482,140
Cap Rate 7%
$344,386
Cap Rate 9%
$267,856
Alternative Uses
Best Use
Flex RnD
$464.8K
$406.7K – $542.3K
NOI $32,535 @ 7.0% cap · market cap 10.85%
Second Best
Warehouse
$344.4K
$301.3K – $401.8K
NOI $24,107 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$650.1K
$568.8K – $758.4K
NOI $45,504 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
927
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12771, NY
14,423
Population
6,163
Households
2.3
Avg Household Size
41
Median Age
21%
College-Educated
91%
High-School Grad
34.6 sq mi
ZIP Area
417
Density / Sq Mi
$67,926
Median Household Income
$38,539
Median Earnings
$1,310
Median Rent
$246,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Corner-lot building with open work areas, reception space, kitchen sink, and paved off-street parking.
Where is this flex space located?
The property is located at 29 Church Street #31 Port Jervis, NY.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Approximately 2,370 square feet on a corner lot; Three oversized overhead garage bays; Two bays approximately 9'2" and one approximately 10'5"
