Automotive Garage with Live-Work
For Sale
$974,900
36 Cold Spring Rd, Monticello, NY 12701
HC2 zoned site with multiple overhead doors, office and restroom, plus a second rented building for flexible live/work use.
Property Size5,500 SF
Price / SF$177.25
Days on Market327
Property Features for 36 Cold Spring Rd
General Information
Standard status
Active
Size
5,500 SF
Zoning
HC2
Additional Details
Business Included
Yes
Road Access
Yes
Drive-In Doors
5
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,476
Building Details
Tenancy
Single
Listing Agency:
Malek Properties, Inc.
(845) 798-2300
Listed By:
Carol Malek · License #31MA1121533
(845) 798-2300
Source:
Exprealty
Added: Sep 20, 2025
Changed: Aug 11
Last Checked: Aug 11 at 11:51AM
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 Malek Properties, Inc.
Investment Insights
Based on property information with market context.
The property consists of a primary garage building and a second structure designed for flexible occupancy. The main building is configured for an automotive business and includes an office, a restroom, heating, and a garage area served by five overhead doors of various heights. The site also provides large parking and storage areas that support equipment staging and day-to-day operations.
The second building is approximately 2,000 square feet and was formerly a duplex. It has two electric meters and is currently rented by a single tenant who has combined the space, though it could be converted back if desired. The property is zoned HC2 and is serviced by municipal sewer and a drilled well, with municipal water approximately 500 feet away. Access is a notable strength, with over 700 feet of road frontage on Cold Spring Road/County Road 102, accommodating vehicles, deliveries, and larger trucks and equipment.
This setup can fit contractors, towing and service operators, woodworking or light industrial users needing overhead-door access, as well as buyers looking for a live/work or management-quarters arrangement. The existing configuration and utility services support a range of uses permitted under HC2, with the additional rented building providing operational flexibility.
The second building is approximately 2,000 square feet and was formerly a duplex. It has two electric meters and is currently rented by a single tenant who has combined the space, though it could be converted back if desired. The property is zoned HC2 and is serviced by municipal sewer and a drilled well, with municipal water approximately 500 feet away. Access is a notable strength, with over 700 feet of road frontage on Cold Spring Road/County Road 102, accommodating vehicles, deliveries, and larger trucks and equipment.
This setup can fit contractors, towing and service operators, woodworking or light industrial users needing overhead-door access, as well as buyers looking for a live/work or management-quarters arrangement. The existing configuration and utility services support a range of uses permitted under HC2, with the additional rented building providing operational flexibility.
Key Highlights
- HC2 zoned property with two buildings and flexible live/work and extended business use.
- Main garage is just under 3,500 SF with five overhead doors of various heights, office, and restroom; currently set up for automotive business.
- Second building is approx. 2,000 SF; formerly a duplex and still has two electric meters, rented by a single tenant (convert back if desired).
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
$66,389
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
6.81%
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%
$1,327,780
$1.3M
Cap Rate 7%
$948,414
$948.4K
Cap Rate 9%
$737,656
$737.7K
Market Conditions
NOI Build-Up for 5,500 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
$99.0K $18.00/SF
− Vacancy
−$4.2K −$0.76/SF
EGI
$94.8K $17.24/SF
− OpEx
−$28.5K −$5.17/SF
NOI
$66.4K $12.07/SF
Area
Sullivan County, NY
Vacancy
4.20%
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%
$1,327,780
Cap Rate 7%
$948,414
Cap Rate 9%
$737,656
Alternative Uses
Best Use
Retail
$948.4K
$829.9K – $1.11M
NOI $66,389 @ 7.0% cap · market cap 6.81%
Second Best
Industrial
$658.2K
$575.9K – $767.9K
NOI $46,072 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,600 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
2
Residential units
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
199
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 Multifamily in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Pavese Service Station — 33 St John St, Monticello, NY 12701
- Pavese's Service Station — 36 E Cold Spring Rd, Monticello, NY 12701
- R & C Towing — 38 Wood Ave, Monticello, NY 12701
Frequently Asked Questions
What type of property is this?
Auto shop - HC2 zoned site with multiple overhead doors, office and restroom, plus a second rented building for flexible live/work use.
Where is this auto shop located?
The property is located at 36 Cold Spring Rd Monticello, NY.
What is the asking price?
The asking price for this property is $974,900.
What are key features of this property?
This property features: HC2 zoned property with two buildings and flexible live/work and extended business use.; Main garage is just under 3,500 SF with five overhead doors of various heights, office, and restroom; currently set up for automotive business.; Second building is approx. 2,000 SF; formerly a duplex and still has two electric meters, rented by a single tenant (convert back if desired).
