Flex Space with Multiple Bay
For Sale
$799,900
3520 State Route 42, Monticello, NY 12701
Block construction, office areas, and insulated upper storage support varied commercial operations.
Property Size3,400 SF
Lot Size1.25 Acres
Days on Market159
Property Features for 3520 State Route 42
General Information
Standard status
Active
Size
3,400 SF
Lot size
1.25 Acres
Property subtype
Commercial
Zoning
AR
Additional Details
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$4,750
Amenities
three main bay doors
one additional side bay door
full insulated attic
large office
additional offices
Building Details
Building Size
3,400 SF
Buildings
1
Stories
2
Units
1
Construction
block
Listing Agency:
Century 21 Country Realty
(845) 791-5280
Listed By:
Anna Milucky · License #10401364655
(845) 791-5280
Source:
Maurafinnegan
Added: Mar 25
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Century 21 Country Realty
Investment Insights
Based on property information with market context.
This flex-space building offers a 50-foot by 74-foot footprint, 12-inch-thick block walls, and a 4-foot foundation. The ground level contains approximately 3,700 square feet, including a large office, while additional office areas are located upstairs. Three insulated bay doors face the main frontage, and a fourth bay door is positioned along the right side of the structure.
A fully insulated attic adds storage or workspace above the primary floors. The building sits on a 1.25-acre lot and is zoned AR. Its configuration is identified for applications including vehicle or equipment storage and repair, warehouse or distribution operations, workshops, light industrial activity, and multipurpose commercial use. The property is located at 3520 State Route 42 in Monticello, NY 12701.
A fully insulated attic adds storage or workspace above the primary floors. The building sits on a 1.25-acre lot and is zoned AR. Its configuration is identified for applications including vehicle or equipment storage and repair, warehouse or distribution operations, workshops, light industrial activity, and multipurpose commercial use. The property is located at 3520 State Route 42 in Monticello, NY 12701.
Key Highlights
- Approximately 3,700 square feet on the ground level
- 50‑foot by 74‑foot block building with 12‑inch‑thick walls
- Three main bay doors plus one side bay door
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
$46,675
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
5.84%
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%
$933,500
$933.5K
Cap Rate 7%
$666,786
$666.8K
Cap Rate 9%
$518,611
$518.6K
Market Conditions
NOI Build-Up for 3,400 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
$81.6K $24.00/SF
− Vacancy
−$9.8K −$2.88/SF
EGI
$71.8K $21.12/SF
− OpEx
−$25.1K −$7.39/SF
NOI
$46.7K $13.73/SF
Area
Sullivan County, NY
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$933,500
Cap Rate 7%
$666,786
Cap Rate 9%
$518,611
Alternative Uses
Best Use
Flex RnD
$666.8K
$583.4K – $777.9K
NOI $46,675 @ 7.0% cap · market cap 5.84%
Second Best
Retail
$586.3K
$513.0K – $684.0K
NOI $41,041 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$932.6K
$816.0K – $1.09M
NOI $65,280 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Block construction, office areas, and insulated upper storage support varied commercial operations.
Where is this flex space located?
The property is located at 3520 State Route 42 Monticello, NY.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Approximately 3,700 square feet on the ground level; 50‑foot by 74‑foot block building with 12‑inch‑thick walls; Three main bay doors plus one side bay door
