Flex Space with Warehouse
New
For Sale
$2,200,000
369 E Broadway, Monticello, NY 12701
Adaptable commercial facility combining warehouse, office, storage, and loading areas for varied business operations.
Property Size21,507 SF
Lot Size2.23 Acres
Price / SF$104.76
Days on Market2
Property Features for 369 E Broadway
General Information
Standard status
Active
Size
21,507 SF
Lot size
2.23 Acres
Property subtype
Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$48,294
Building Details
Building Size
21,507 SF
Listing Agency:
R J Katz Realty
Listed By:
Harold B. Reynolds · License #10371201599
(845) 798-2126
Source:
Elliman
Added: Sep 12
Last Checked: Sep 12 at 3:03PM
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 R J Katz Realty
Investment Insights
Based on property information with market context.
The offering includes the building only, with approximately 21,000 sq. ft. of commercial space on 2.23 acres. Configured for flexible operations, the facility combines warehouse and office areas with high ceilings, concrete floors, several overhead doors, approximately six to eight private offices, and three bathrooms. Municipal water and sewer serve the property, and a substantial on-site parking area accommodates employees, customers, and commercial vehicles.
Located at 369 E Broadway in Monticello, the property is positioned along Broadway near restaurants, shopping, public transportation, Village Hall, and other local businesses and services. Its mix of warehouse, office, and storage areas supports a range of commercial operations, including distribution, light manufacturing, wholesale, contracting, service, retail, and storage uses, subject to applicable approvals.
Located at 369 E Broadway in Monticello, the property is positioned along Broadway near restaurants, shopping, public transportation, Village Hall, and other local businesses and services. Its mix of warehouse, office, and storage areas supports a range of commercial operations, including distribution, light manufacturing, wholesale, contracting, service, retail, and storage uses, subject to applicable approvals.
Key Highlights
- Approximately 21,000 sq. ft. of commercial space on 2.23 acres
- Warehouse areas feature high ceilings, concrete floors, and several overhead doors
- Approximately six to eight private offices and three bathrooms
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
$175,913
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
8.00%
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%
$3,518,260
$3.5M
Cap Rate 7%
$2,513,043
$2.5M
Cap Rate 9%
$1,954,589
$2.0M
Market Conditions
NOI Build-Up for 21,000 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
$269.6K $12.84/SF
− Vacancy
−$18.3K −$0.87/SF
EGI
$251.3K $11.97/SF
− OpEx
−$75.4K −$3.59/SF
NOI
$175.9K $8.38/SF
Area
Sullivan County, NY
Vacancy
6.80%
Lease Rate
$12.84 /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%
$3,518,260
Cap Rate 7%
$2,513,043
Cap Rate 9%
$1,954,589
Alternative Uses
Best Use
Flex RnD
$4.12M
$3.60M – $4.80M
NOI $288,288 @ 7.0% cap · market cap 13.10%
Second Best
Warehouse
$3.05M
$2.67M – $3.56M
NOI $213,609 @ 7.0% cap · market cap 9.71%
Theoretical Best
Office A
$5.76M
$5.04M – $6.72M
NOI $403,200 @ 7.0% cap · market cap 18.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial facility combining warehouse, office, storage, and loading areas for varied business operations.
Where is this flex space located?
The property is located at 369 E Broadway Monticello, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Approximately 21,000 sq. ft. of commercial space on 2.23 acres; Warehouse areas feature high ceilings, concrete floors, and several overhead doors; Approximately six to eight private offices and three bathrooms
