Renovated Mixed-Use
For Sale
$550,000
36 Wallkill Avenue, Middletown, NY 10940
Corner property combines a commercial storefront with two updated residential units.
Property Size3,646 SF
Price / SF$286.61
Days on Market61
Property Features for 36 Wallkill Avenue
General Information
Standard status
Active
Size
3,646 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$10,307
Amenities
storage
detached one-car garage
Building Details
Building Size
3,646 SF
Year Built
1900
Buildings
1
Stories
2
Units
3
Listing Agency:
KW Hudson Valley United
(917) 747-6688
Listed By:
Jonathon Z. Lee
(917) 747-6688
Source:
Callexitfirst
Added: Jun 30
Changed: Aug 28
Last Checked: Aug 28 at 8:28PM
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.
Built in 1900, this mixed-use property places a 1,919-square-foot commercial storefront below two renovated two-bedroom apartments totaling approximately 1,727 square feet. Each apartment includes two bedrooms, a full bathroom, kitchen, and living room. The commercial component may accommodate personal care and wellness services, including salon, barber, skincare, or nail uses, subject to municipal approvals.
The property occupies a corner at a signalized intersection on Wallkill Avenue in Middletown, New York. All three units have been updated and are ready for occupancy or leasing. Supporting improvements include storage, a detached one-car garage, driveway parking, and on-street parking.
The property occupies a corner at a signalized intersection on Wallkill Avenue in Middletown, New York. All three units have been updated and are ready for occupancy or leasing. Supporting improvements include storage, a detached one-car garage, driveway parking, and on-street parking.
Key Highlights
- 1,919‑square‑foot first‑floor commercial storefront
- Two renovated two‑bedroom apartments totaling approximately 1,727 square feet
- All three units updated and ready for occupancy or leasing
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
$38,142
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
6.93%
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%
$762,840
$762.8K
Cap Rate 7%
$544,886
$544.9K
Cap Rate 9%
$423,800
$423.8K
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
$56.4K $29.40/SF
− Vacancy
−$1.9K −$1.01/SF
EGI
$54.5K $28.39/SF
− OpEx
−$16.3K −$8.52/SF
NOI
$38.1K $19.88/SF
Area
Orange County, NY
Vacancy
3.42%
Lease Rate
$29.40 /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%
$762,840
Cap Rate 7%
$544,886
Cap Rate 9%
$423,800
Alternative Uses
Best Use
Multifamily LT 5
$544.9K
$476.8K – $635.7K
NOI $38,142 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$512.8K
$448.7K – $598.3K
NOI $35,896 @ 7.0% cap · market cap 6.53%
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combines a commercial storefront with two updated residential units.
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 renovated two‑bedroom apartments totaling approximately 1,727 square feet; All three units updated and ready for occupancy or leasing
