Mixed-Use Building with
For Sale
$550,000
36 Wallkill Avenue, Middletown, NY 10940
Updated commercial and residential spaces combine in a three-unit property with storage, garage, and parking.
Property Size3,646 SF
Price / SF$286.61
Days on Market82
Property Features for 36 Wallkill Avenue
General Information
Standard status
Active
Size
3,646 SF
Total Parking Spaces
2
Property subtype
Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,307
Amenities
storage
garage
Building Details
Building Size
3,646 SF
Year Built
1900
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
KW Hudson Valley United
(845) 610-6065
Listed By:
Jonathon Z. Lee
(917) 747-6688
Source:
Mydreamhomerealty
Added: Jun 30
Changed: Sep 18
Last Checked: Sep 18 at 3:41PM
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 KW Hudson Valley United
Investment Insights
Based on property information with market context.
This mixed-use property contains a 1,919-square-foot commercial storefront on the first floor and two newly renovated two-bedroom apartments totaling approximately 1,727 square feet upstairs. Each apartment includes two bedrooms, a full bathroom, kitchen, and spacious living room. The commercial area may accommodate personal care and wellness uses such as a hair salon, barbershop, skincare or beauty spa, or nail salon, subject to municipal approvals.
All three units have been updated and are described as move-in or rent-ready. The property also includes storage, a detached one-car garage, driveway parking, and on-street parking. Built in 1900, it combines commercial and residential space within a single building.
All three units have been updated and are described as move-in or rent-ready. The property also includes storage, a detached one-car garage, driveway parking, and on-street parking. Built in 1900, it combines commercial and residential space within a single building.
Key Highlights
- 1,919‑square‑foot first‑floor commercial storefront
- Two newly renovated 2‑bedroom apartments totaling approximately 1,727 square feet
- Each apartment includes a full bath, kitchen, and spacious living room
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
$35,896
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
6.53%
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%
$717,920
$717.9K
Cap Rate 7%
$512,800
$512.8K
Cap Rate 9%
$398,844
$398.8K
Market Conditions
NOI Build-Up for 1,919 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
$67.7K $35.28/SF
− Vacancy
−$2.4K −$1.27/SF
EGI
$65.3K $34.01/SF
− OpEx
−$29.4K −$15.30/SF
NOI
$35.9K $18.71/SF
Area
Orange County, NY
Vacancy
3.60%
Lease Rate
$35.28 /SF/Yr
Expense Ratio
45.00%
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%
$717,920
Cap Rate 7%
$512,800
Cap Rate 9%
$398,844
Alternative Uses
Best Use
Apartment 5plus
$512.8K
$448.7K – $598.3K
NOI $35,896 @ 7.0% cap · market cap 6.53%
Second Best
Retail
$333.7K
$292.0K – $389.3K
NOI $23,357 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$649.9K
$568.7K – $758.3K
NOI $45,496 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,214
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated commercial and residential spaces combine in a three-unit property with storage, garage, and parking.
Where is this mixed-use property located?
The property is located at 36 Wallkill Avenue Middletown, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,919‑square‑foot first‑floor commercial storefront; Two newly renovated 2‑bedroom apartments totaling approximately 1,727 square feet; Each apartment includes a full bath, kitchen, and spacious living room
