Retail Center With
For Sale
$1,600,000
36033611 3603-3611 Main St, Stone Ridge, NY 12484
Multi-building commercial property combines retail, office, residential, parking, and fenced outdoor amenity space.
Property Size7,028 SF
Lot Size1.60 Acres
Price / SF$227.66
Days on Market46
Property Features for 36033611 3603-3611 Main St
General Information
Standard status
Active
Size
7,028 SF
Total Parking Spaces
28
Lot size
1.60 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
2
Office Units
4
Amenities
groomed fenced outdoor common area with pavilion
professional restaurant kitchen
Building Details
Year Built
1930
Buildings
3
Tenancy
Multi
Listing Agency:
Halter Associates Realty
(845) 532-7119
Listed By:
Peter Cantine · License #10401312264
Source:
Amodiorealestate
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 25 at 3:57AM
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 Halter Associates Realty
Investment Insights
Based on property information with market context.
This shopping center property combines a two-story retail and office building, the adjacent Picard Building, and a separate three-bedroom residence. The commercial improvements include retail areas, a professional restaurant kitchen on the ground level, and four second-floor office suites. The residence dates to circa 1930 and includes one bathroom, providing additional support or living space. A fenced outdoor common area with pavilion complements the buildings, while the property offers 28 parking spaces across 1.6 acres.
The property is located on Main St, also identified as US Highway 209, in Stone Ridge, NY. The commercial building was formerly used by a meat company, and new unused equipment is available for negotiation. The overall property size is 7,028 square feet, with multiple building types supporting a range of retail, office, restaurant, and residential functions.
The property is located on Main St, also identified as US Highway 209, in Stone Ridge, NY. The commercial building was formerly used by a meat company, and new unused equipment is available for negotiation. The overall property size is 7,028 square feet, with multiple building types supporting a range of retail, office, restaurant, and residential functions.
Key Highlights
- 1.6‑acre property with 7,028 square feet of improvements
- Two‑story retail and office building plus the adjacent Picard Building
- Professional restaurant kitchen and 4 second‑floor office suites
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
$138,047
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
8.63%
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%
$2,760,940
$2.8M
Cap Rate 7%
$1,972,100
$2.0M
Cap Rate 9%
$1,533,856
$1.5M
Market Conditions
NOI Build-Up for 7,028 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
$210.8K $30.00/SF
− Vacancy
−$26.8K −$3.81/SF
EGI
$184.1K $26.19/SF
− OpEx
−$46.0K −$6.55/SF
NOI
$138.0K $19.64/SF
Area
Ulster County, NY
Vacancy
12.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,760,940
Cap Rate 7%
$1,972,100
Cap Rate 9%
$1,533,856
Alternative Uses
Best Use
Office B
$1.97M
$1.73M – $2.30M
NOI $138,047 @ 7.0% cap · market cap 8.63%
Second Best
Retail
$1.20M
$1.05M – $1.39M
NOI $83,682 @ 7.0% cap · market cap 5.23%
Theoretical Best
Multifamily LT 5
$65.72M
$57.51M – $76.68M
NOI $4,600,693 @ 7.0% cap · market cap 287.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 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?
Shopping center - Multi-building commercial property combines retail, office, residential, parking, and fenced outdoor amenity space.
Where is this shopping center located?
The property is located at 36033611 3603-3611 Main St Stone Ridge, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 1.6‑acre property with 7,028 square feet of improvements; Two‑story retail and office building plus the adjacent Picard Building; Professional restaurant kitchen and 4 second‑floor office suites
