Quadplex with Two Retail
For Sale
$1,200,000
Pending
35 Main Street, Chatham, NY 12037
COMMERCIAL - Chatham, NY
Property Size6,324 SF
Lot Size0.07 Acres
Days on Market128
Property Features for 35 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com 1 mixed use
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 6
Elementary school district
Chatham Central Schools
Middle school district
Chatham Central Schools
High school district
Chatham Central Schools
Directions
Taconic exit 102, to Austerlitz Street, to Main Street.
Subdivision
Chatham
Standard status
Pending
APN
66.10-1-35
Size
6,324 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
8340
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Propane (Heating), Forced Air
Water source
Public
Building Details
Year built
1900
Listing Agency:
Keller Williams Realty HV Nort
(845) 481-2700
Listed By:
Melissa Cox
(631) 664-4712
Added: Apr 11
Changed: Aug 4
Last Checked: Aug 16 at 1:06AM
MLS# 20261518
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.
Investment Insights
Based on property information with market context.
Historic three-story brick building featuring two commercial storefronts and four fully occupied apartments. The building totals 6,324 SF and sits on a 0.07-acre lot. Built in 1900, the property includes multiple bathroom rooms and is equipped with propane forced-air heating.
Zoned “Com 1 mixed use,” the property is located at 35 Main Street in Chatham, NY. Water is provided by public supply and sewer is public sewer. Cable is available. Tenants are responsible for all utilities.
The offering is described as generating 9+ cap rate based on current rents, with the stated annual rent figure tied to current operations. The mix of storefront and residential units may support flexible tenanting for an owner seeking in-building income from both retail and apartments.
Zoned “Com 1 mixed use,” the property is located at 35 Main Street in Chatham, NY. Water is provided by public supply and sewer is public sewer. Cable is available. Tenants are responsible for all utilities.
The offering is described as generating 9+ cap rate based on current rents, with the stated annual rent figure tied to current operations. The mix of storefront and residential units may support flexible tenanting for an owner seeking in-building income from both retail and apartments.
Key Highlights
- 35 Main Street, Chatham, NY mixed‑use zoning: Com 1
- 6,324 SF historic three‑story brick building with retail and residential space
- 0.07‑acre lot size
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
$67,770
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
5.65%
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%
$1,355,400
$1.4M
Cap Rate 7%
$968,143
$968.1K
Cap Rate 9%
$753,000
$753.0K
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
$102.4K $16.20/SF
− Vacancy
−$5.6K −$0.89/SF
EGI
$96.8K $15.31/SF
− OpEx
−$29.0K −$4.59/SF
NOI
$67.8K $10.72/SF
Area
Columbia County, NY
Vacancy
5.50%
Lease Rate
$16.20 /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%
$1,355,400
Cap Rate 7%
$968,143
Cap Rate 9%
$753,000
Alternative Uses
Best Use
Multifamily LT 5
$968.1K
$847.1K – $1.13M
NOI $67,770 @ 7.0% cap · market cap 5.65%
Second Best
Retail
$950.9K
$832.0K – $1.11M
NOI $66,561 @ 7.0% cap · market cap 5.55%
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
Lease Details
Multi-tenant
Tenancy
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 Multifamily 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?
Quadplex - Historic three-story brick building with two commercial storefronts and four fully occupied apartments on a mixed-use zoning lot.
Where is this quadplex located?
The property is located at 35 Main Street 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: 35 Main Street, Chatham, NY mixed‑use zoning: Com 1; 6,324 SF historic three‑story brick building with retail and residential space; 0.07‑acre lot size
