Building Details

Year Built 1984

Buildings 1

Building Size 1,172 SF

Construction block frame

Listing Agency: HOWARD HANNA RAND REALTY E***@yahoo.com Show Phone

Listed By: EDWIN MALDONADO

Source: Corcoran

Added: Aug 4 Changed: Aug 9 Last Checked: Aug 9 at 3:18AM

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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 HOWARD HANNA RAND REALTY

Investment Insights

Based on property information with market context.

Built in 1984, this 1,172-square-foot block-frame building is zoned Light Industrial (I1) and configured for flexible commercial use. Three drive-in doors provide vehicle access, with two positioned at the front and a third located along the side. The property can accommodate industrial workspace, contractor operations, storage, or classic vehicle storage based on the uses identified for the building.

The property is located on Beesmer Road in Hurley, within 10 minutes of Kingston, Woodstock, and the NYS Thruway. The combination of industrial zoning, drive-in access, and a compact building footprint provides a practical setting for users needing enclosed workspace or storage.

Key Highlights

• 1,172‑square‑foot block‑frame building constructed in 1984
• Light Industrial (I1) zoning
• Three drive‑in doors: two front doors measuring 8' and 10', plus one 9' side door

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

$18,375

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

7.35%

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%

$367,500 $367.5K

Cap Rate 7%

$262,500 $262.5K

Cap Rate 9%

$204,167 $204.2K

Market Conditions

NOI Build-Up for 1,172 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

$35.2K $30.00/SF

− Vacancy

−$6.9K −$5.88/SF

EGI

$28.3K $24.12/SF

− OpEx

−$9.9K −$8.44/SF

NOI

$18.4K $15.68/SF

Area

Ulster County, NY

Vacancy

19.60%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

35.00%

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%

$367,500

Cap Rate 7%

$262,500

Cap Rate 9%

$204,167

Alternative Uses

Best Use

Flex RnD

$262.5K

$229.7K – $306.3K (±1% cap)

NOI $18,375 @ 7.0% cap · market cap 7.35%

Second Best

Warehouse

$135.4K

$118.5K – $157.9K (±1% cap)

NOI $9,476 @ 7.0% cap · market cap 3.79%

Theoretical Best

Multifamily LT 5

$10.96M

$9.59M – $12.79M (±1% cap)

NOI $767,219 @ 7.0% cap · market cap 307.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Auto Repair Shop Plumbing Service Auto Parts Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

82

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12443, NY

3,868

Population

1,772

Households

2.2

Avg Household Size

48

Median Age

48%

College-Educated

95%

High-School Grad

16.5 sq mi

ZIP Area

234

Density / Sq Mi

$97,981

Median Household Income

$61,351

Median Earnings

$1,183

Median Rent

$325,400

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Block-frame construction, I1 zoning, and three drive-in doors accommodate workspace, storage, and vehicle storage needs.

Where is this flex space located?

The property is located at 37 Beesmer Road Hurley, NY.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: 1,172‑square‑foot block‑frame building constructed in 1984; Light Industrial (I1) zoning; Three drive‑in doors: two front doors measuring 8' and 10', plus one 9' side door