Fitness Center with Two
For Sale
$1,200,000
3588 Main Street, Stone Ridge, NY 12484
COMMERCIAL - Stone Ridge, NY
Property Size6,240 SF
Lot Size3.40 Acres
Price / SF$192.31
Days on Market301
Property Features for 3588 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Basement, Bathroom 3, Bathroom 1, Bathroom 4, Bathroom 5
Exterior features
Rain Gutters
Basement
Unfinished, Dirt Floor, Exterior Entry, Full
Appliances
Washer, Refrigerator, Gas Range, Dryer
Lot features
Gentle Sloping, Irregular Lot, Landscaped
Elementary school district
Rondout Valley Schools
Middle school district
Rondout Valley Schools
High school district
Rondout Valley Schools
Directions
Route 209 to the center of town. Parking in rear.
Subdivision
Marbletown
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active
APN
3588
Size
6,240 SF
Lot size
3.40 Acres
Taxes and HOA fees
Tax Annual Amount
14944
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Varies by Unit (Heating), Heat Pump (Heating), Radiant, Forced Air, Propane (Heating), Radiant Floor
Cooling system
Multi Units, Electric, Ductless, Heat Pump, Varies by Unit
Water source
Well
Amenities
vaulted ceilings
wood floors
stained glass
commercial bathrooms
studios
radiant heat
professional sound
skylit dome
outdoor gathering areas
Building Details
Year built
1840
Floors in Building
2
Flooring type
Bamboo, Wood
Building materials
Frame, Wood Siding
Roof type
Metal, Asphalt
Listing Agency:
BHHS Nutshell Realty · Prudential Real Estate
(845) 687-2200
Listed By:
Laurel Sweeney
(845) 325-4431
Added: Oct 16, 2025
Changed: Aug 12
Last Checked: Aug 12 at 11:06AM
MLS# 20255119
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.
The Marbletown MultiArts Building is a landmark fitness and creative-use property in Stone Ridge’s historic district, originally built in 1840 and reimagined for movement, music, and art. The main structure features vaulted ceilings, wood floors, and stained-glass elements, with a welcoming entry and retail area. A commercial bathroom layout includes two commercial bathrooms, one ADA compliant. The building’s two expansive studios offer open space, high ceilings, and large windows.
Beyond the main structure is the Kiva, a recently constructed 1,300-square-foot circular yurt with radiant heat, professional sound, and a skylit dome. A spacious two-bedroom apartment rounds out the property, finished with natural wood details and light-filled windows, and currently rented month-to-month.
The site totals 3.4 acres with level rear acreage, outdoor gathering areas, and rain gutters. The property provides 54 parking spaces and uses well water and a septic tank, with propane utility service.
Beyond the main structure is the Kiva, a recently constructed 1,300-square-foot circular yurt with radiant heat, professional sound, and a skylit dome. A spacious two-bedroom apartment rounds out the property, finished with natural wood details and light-filled windows, and currently rented month-to-month.
The site totals 3.4 acres with level rear acreage, outdoor gathering areas, and rain gutters. The property provides 54 parking spaces and uses well water and a septic tank, with propane utility service.
Key Highlights
- Zoned B1 multi‑arts and fitness building with a commercial retail and studio layout
- 3.4‑acre property with level rear acreage and outdoor gathering areas
- Two expansive studios with vaulted ceilings, wood floors, and large windows
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
$74,300
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
6.19%
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%
$1,486,000
$1.5M
Cap Rate 7%
$1,061,429
$1.1M
Cap Rate 9%
$825,556
$825.6K
Market Conditions
NOI Build-Up for 6,240 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
$112.3K $18.00/SF
− Vacancy
−$6.2K −$0.99/SF
EGI
$106.1K $17.01/SF
− OpEx
−$31.8K −$5.10/SF
NOI
$74.3K $11.91/SF
Area
Ulster County, NY
Vacancy
5.50%
Lease Rate
$18.00 /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%
$1,486,000
Cap Rate 7%
$1,061,429
Cap Rate 9%
$825,556
Alternative Uses
Best Use
Retail
$1.06M
$928.8K – $1.24M
NOI $74,300 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$58.35M
$51.06M – $68.08M
NOI $4,084,850 @ 7.0% cap · market cap 340.40%
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
172
Businesses Nearby
19k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 8%
Home Improvements & Furnishings 8%
Exxon
Shops & Services
8,479 visits/mo
0.1 miles
Corner Store
Shops & Services
3,967 visits/mo
0.1 miles
KeyBank
Shops & Services
1,613 visits/mo
0.2 miles
Momiji
Dining
1,504 visits/mo
0.2 miles
Marbletown Tru Value Hardware
Home Improvements & Furnishings
1,492 visits/mo
0.1 miles
Demographics for 12484, NY
2,809
Population
1,479
Households
1.9
Avg Household Size
51
Median Age
63%
College-Educated
98%
High-School Grad
23.7 sq mi
ZIP Area
119
Density / Sq Mi
$116,023
Median Household Income
$51,958
Median Earnings
$1,367
Median Rent
$441,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- RidgeWell Fitness — 3555 Main St, Stone Ridge, NY 12484
- Whole Sky Yoga — 3588 Main St, Stone Ridge, NY 12484
- MaMA, Marbletown Multi-Arts — 3588 Main St, Stone Ridge, NY 12484
- Stone Ridge Healing Arts — 3457 Main St, Stone Ridge, NY 12484
- Clear Yoga — 3457 Main St, Stone Ridge, NY 12484
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Multi-use fitness and studio building zoned B1 with ample parking and an ADA-compliant commercial bathroom.
Where is this fitness center & gym located?
The property is located at 3588 Main Street Stone Ridge, 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: Zoned B1 multi‑arts and fitness building with a commercial retail and studio layout; 3.4‑acre property with level rear acreage and outdoor gathering areas; Two expansive studios with vaulted ceilings, wood floors, and large windows
