Flex Space with Multiple Bay
For Sale
$799,900
3520 State Route 42, Monticello, NY 12701
COMMERCIAL - Monticello, NY
Property Size3,700 SF
Lot Size1.13 Acres
Price / SF$216.19
Days on Market141
Property Features for 3520 State Route 42
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
AR
Standard status
Active
APN
4689-043-0-0001-033-001
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4751
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Heating system
Oil, Forced Air
Water source
Well
Building Details
Floors in Building
2
Number of units
1
Flooring type
Concrete
Building materials
Block
Listing Agency:
Century 21 Country Realty · Century 21 Real Estate
(845) 791-5280
Listed By:
Anna Milucky · License #10401364655
(845) 791-5280
Added: Mar 24
Changed: Aug 7
Last Checked: Aug 11 at 11:06PM
MLS# 972171
Copyright © 2026 OneKey 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.
This flex space is a block building measuring 50 feet by 74 feet, with 12-inch-thick block walls and a 4-foot foundation. The structure includes a full insulated attic and features three main bay doors plus one additional side bay door. Several large, heavily insulated bay doors are positioned on the main facade to support vehicle or equipment access, and one more bay door on the right side adds additional entry, exit, or loading and unloading flexibility. Flooring is concrete.
The building is set up with office space on the bottom floor and additional offices on the second floor, with approximately 3,700 square feet on the ground level. It is heated with forced air oil, and utilities include electricity available, with water from a well and wastewater handled by a septic tank. The property is zoned AR.
With its robust block construction, multiple insulated bay doors, and substantial insulated attic space, the facility is suited for a range of storage, workshop, and light industrial or multi-purpose commercial uses.
The building is set up with office space on the bottom floor and additional offices on the second floor, with approximately 3,700 square feet on the ground level. It is heated with forced air oil, and utilities include electricity available, with water from a well and wastewater handled by a septic tank. The property is zoned AR.
With its robust block construction, multiple insulated bay doors, and substantial insulated attic space, the facility is suited for a range of storage, workshop, and light industrial or multi-purpose commercial uses.
Key Highlights
- 50 feet by 74 feet block structure with 12‑inch‑thick walls and 4‑foot foundation
- Three main heavily insulated bay doors on the main facade plus one additional side bay door
- Full insulated attic providing additional storage or workspace
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
$50,794
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
6.35%
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%
$1,015,880
$1.0M
Cap Rate 7%
$725,629
$725.6K
Cap Rate 9%
$564,378
$564.4K
Market Conditions
NOI Build-Up for 3,700 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
$88.8K $24.00/SF
− Vacancy
−$10.7K −$2.88/SF
EGI
$78.1K $21.12/SF
− OpEx
−$27.4K −$7.39/SF
NOI
$50.8K $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%
$1,015,880
Cap Rate 7%
$725,629
Cap Rate 9%
$564,378
Alternative Uses
Best Use
Flex RnD
$725.6K
$634.9K – $846.6K
NOI $50,794 @ 7.0% cap · market cap 6.35%
Second Best
Warehouse
$537.7K
$470.5K – $627.3K
NOI $37,636 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.01M
$888.0K – $1.18M
NOI $71,040 @ 7.0% cap · market cap 8.88%
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 - Flex space with offices and insulated attic, offering vehicle or equipment access through multiple bay doors.
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: 50 feet by 74 feet block structure with 12‑inch‑thick walls and 4‑foot foundation; Three main heavily insulated bay doors on the main facade plus one additional side bay door; Full insulated attic providing additional storage or workspace
