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    Versatile Land with Workshop Title is generated by Realmo AI

    308-314 Pennsylvania Avenue, Palenville, NY 12463

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    New
    For Sale
    $530,000

    LAND - Palenville, NY

    Property size:
    2,856 SF
    Lot size:
    16.20 Acres
    Price / SF:
    $185/SF
    Added:
    May 20, 2026
    Days on Market:
    2
    Last Refresh:
    May 21 at 3:06 pm

    Property Features for 308-314 Pennsylvania Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    07 MR - .5
    Standard status
    Active
    Size
    2,856 SF
    Lot size
    16.20 Acres

    Taxes and HOA fees

    Tax Description
    185.00-2-10
    Tax Annual Amount
    5938

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Water source
    Spring, Well

    Building Details

    Additional Structures
    Mobile Home

    We can help!

    Listing Contact
    Shannon O'Connell

    Listing agent Shannon O'Connell

    Listing office Grist Mill Real Estate 265 Main Street, Saugerties, NY

    Listing date May 20, 2026

    MLS# 20262585 Listing URL

    Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2,856 SF MORTON‑BUILT WORKSHOP featuring three‑phase electric, polished concrete floors and compressed air line system.
    • 16.20 private acres zoned MR-.5 with potential for multiple homes or future development.
    • Versatile workshop boasts a wide‑span interior, high ceilings, abundant natural light, dedicated office, and plumbed bathroom.
    • Two oversized overhead doors for easy equipment access and large‑scale storage.
    • Newer drilled well installed in 2022 awaiting hookup, plus existing spring‑fed well.
    • Roof and skylights replaced two years ago.

    Overview

    This property, situated on 16.20 acres, presents opportunities for storage, workshop space, future development, or a live/work setup. A 2,856 square foot Morton-built workshop serves as the centerpiece, equipped with three-phase electric, polished concrete floors, and a compressed air line system throughout its three work spaces. The building features wide-span interior space, high ceilings, natural light from multiple windows and skylights, a dedicated office space, and a plumbed bathroom. Two of the three bays include oversized overhead doors. The roof and skylights were replaced two years ago. The property also contains two manufactured homes in disrepair, both with electric connections. Water sources include a spring-fed well and a newer drilled well installed in 2022 awaiting hookup. Zoned MR-.5, the property allows for various uses per the Town of Catskill zoning table, including the potential for multiple homes or future expansion opportunities. This Catskill property offers flexibility, infrastructure, and potential for a spacious storage compound, contractor or trades person workshop, recreational property, or future development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Department Store Food Market Bar & Pub Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palenville
    County
    Greene
    State
    New York
    Longitude
    -74.005852
    Latitude
    42.174872

    Nearby Similar for Sale

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      View Details
    • $1,950,000

      Restored Venue, Hotel, Pub, Restaurant

      Turn-key venue, hotel, pub, and restaurant in the Great Northern Catskills.
      3311 Route 23a, Palenville, NY, 12463-2318
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    FAQs

    What type of property is this?
    Flex space - 16.20 acres with workshop, potential for storage, development.
    Where is this flex space located?
    The property is located at 308-314 Pennsylvania Avenue Palenville, NY.
    What is the asking price?
    The asking price for this property is $530,000.
    What are key features of this property?
    This property features: 2,856 SF MORTON‑BUILT WORKSHOP featuring three‑phase electric, polished concrete floors and compressed air line system.; 16.20 private acres zoned MR-.5 with potential for multiple homes or future development.; Versatile workshop boasts a wide‑span interior, high ceilings, abundant natural light, dedicated office, and plumbed bathroom.
    (845) 532-3588
    We can help!
    Listing Contact
    Shannon O'Connell
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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