High-Visibility Commercial Space For
For Sale
$880,000
Pending
357 E Main Street, Middletown, NY 10940
Prime location commercial space with drive-through and ample parking.
Property Size3,192 SF
Lot Size1.00 Acre
Days on Market276
Property Features for 357 E Main Street
General Information
Standard status
Pending
Size
3,192 SF
Lot size
1.00 Acre
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,173
Amenities
Central air
Central Air Cooling
Heat Pump Heating
Listing Agency:
KELLER WILLIAMS HUDSON VALLEY
(845) 610-6065
Listed By:
HAI LI
Source:
Corcoran
Added: Nov 6, 2025
Changed: Aug 8
Last Checked: Aug 8 at 1:29PM
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 HUDSON VALLEY
Investment Insights
Based on property information with market context.
This commercial property, constructed in 2010, offers a total area of 3,192 square feet and includes a drive-through window. The building is equipped with central air conditioning and a full basement. It features 24 dedicated parking spaces. The property benefits from a location with high visibility and an average daily traffic count of 11,189. Currently occupied by Rhinebeck Bank with availability starting February 1, 2026, the space is suitable for medical, financial, or high-traffic retail businesses.
Key Highlights
- High‑visibility location with 11,189 average daily traffic count.
- Well‑maintained 3,192 SF building constructed in 2010.
- 24 dedicated parking spaces.
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
$56,757
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
6.45%
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%
$1,135,140
$1.1M
Cap Rate 7%
$810,814
$810.8K
Cap Rate 9%
$630,633
$630.6K
Market Conditions
NOI Build-Up for 3,192 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
$107.3K $33.60/SF
− Vacancy
−$12.7K −$3.96/SF
EGI
$94.6K $29.64/SF
− OpEx
−$37.8K −$11.85/SF
NOI
$56.8K $17.78/SF
Area
Orange County, NY
Vacancy
11.80%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,135,140
Cap Rate 7%
$810,814
Cap Rate 9%
$630,633
Alternative Uses
Best Use
Healthcare Medical
$810.8K
$709.5K – $946.0K
NOI $56,757 @ 7.0% cap · market cap 6.45%
Second Best
Office B
$763.0K
$667.6K – $890.2K
NOI $53,411 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.08M
$946.0K – $1.26M
NOI $75,676 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Demographics for 10940, NY
52,803
Population
19,930
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
63.1 sq mi
ZIP Area
837
Density / Sq Mi
$87,198
Median Household Income
$46,435
Median Earnings
$1,600
Median Rent
$301,400
Median Home Value
Market
Vacancy Rate% for Office 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?
Bank - Prime location commercial space with drive-through and ample parking.
Where is this bank located?
The property is located at 357 E Main Street Middletown, NY.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: High‑visibility location with 11,189 average daily traffic count.; Well‑maintained 3,192 SF building constructed in 2010.; 24 dedicated parking spaces.
