Historic Chatham Mixed-Use
For Sale
$1,200,000
Pending
35 MAIN ST, Chatham, NY 12037
Three-story brick building with commercial storefronts and apartments.
Property Size6,324 SF
Days on Market246
Property Features for 35 MAIN ST
General Information
Standard status
Pending
Size
6,324 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$8,340
Amenities
3
0.07000000029802322
Historic Area, Downtown.
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty HV Nort
(631) 664-4712
Listed By:
Melissa Cox
(631) 664-4712
Source:
Xome
Added: Dec 28, 2025
Changed: Aug 25
Last Checked: Aug 31 at 12:54PM
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 HV Nort
Investment Insights
Based on property information with market context.
This historic three-story brick building, formerly Brown's Shoe Store, is located in the heart of Chatham. The property features two commercial storefronts and four fully occupied apartments. Situated on Main Street, the building benefits from high foot traffic and proximity to a diverse range of established businesses. The property generates $129,600 in annual rents. Tenants are responsible for all utilities. The building has a CAP rate exceeding 9 points based on current rents. The property size is 6,324 square feet.
Key Highlights
- High CAP rate exceeding 9 points based on current rents.
- Generates $129,600 in annual rents.
- Prime Main Street location in the heart of Chatham with high foot traffic.
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
$66,561
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
5.55%
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%
$1,331,220
$1.3M
Cap Rate 7%
$950,871
$950.9K
Cap Rate 9%
$739,567
$739.6K
Market Conditions
NOI Build-Up for 6,324 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
$106.2K $16.80/SF
− Vacancy
−$11.2K −$1.76/SF
EGI
$95.1K $15.04/SF
− OpEx
−$28.5K −$4.51/SF
NOI
$66.6K $10.53/SF
Area
Columbia County, NY
Vacancy
10.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,331,220
Cap Rate 7%
$950,871
Cap Rate 9%
$739,567
Alternative Uses
Best Use
Retail
$950.9K
$832.0K – $1.11M
NOI $66,561 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.83M
NOI $109,522 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 12037, NY
3,895
Population
2,035
Households
1.9
Avg Household Size
51
Median Age
47%
College-Educated
95%
High-School Grad
36.2 sq mi
ZIP Area
108
Density / Sq Mi
$93,990
Median Household Income
$50,471
Median Earnings
$1,006
Median Rent
$345,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story brick building with commercial storefronts and apartments.
Where is this mixed-use property located?
The property is located at 35 MAIN ST Chatham, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High CAP rate exceeding 9 points based on current rents.; Generates $129,600 in annual rents.; Prime Main Street location in the heart of Chatham with high foot traffic.
