Building Details

Building Size 2,070 SF

Listing Agency: COLDWELL BANKER TIMBERLAND

Listed By: James L. Karpowicz · License #10401283203 Show Phone

Source: Elliman

Added: Sep 29 Changed: Oct 3 Last Checked: Oct 4 at 11:46AM

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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 COLDWELL BANKER TIMBERLAND

Investment Insights

Based on property information with market context.

This flex property in Youngsville centers on a main workshop measuring approximately 35' x 45', with 16' ceilings and a 10' x 10' roll-up door. Improvements include 200-amp electrical service, three heat pumps and insulation in the office area. The building also has a conditioned side room, bathroom, upstairs office and top-floor storage. A new roof is needed; no active leaks are known, and the remaining building is described as sound and solid. A separate 21' x 40' Quonset-style structure adds approximately 840 square feet. An additional wood/coal stove is included but not installed.

The property occupies approximately 3 level, usable acres and has approximately 629 feet of stream frontage, plus a small shared pond. It is in the Town of Callicoon's SD zoning district. Buyers should verify proposed uses with the town and applicable permitting authorities.

Key Highlights

• Main workshop is approximately 35' x 45' with 16' ceilings
• 10' x 10' roll‑up garage door
• Upgraded 200‑amp electrical service and three new heat pumps

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

$17,340

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

5.80%

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%

$346,800 $346.8K

Cap Rate 7%

$247,714 $247.7K

Cap Rate 9%

$192,667 $192.7K

Market Conditions

NOI Build-Up for 2,070 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

$26.6K $12.84/SF

− Vacancy

−$1.8K −$0.87/SF

EGI

$24.8K $11.97/SF

− OpEx

−$7.4K −$3.59/SF

NOI

$17.3K $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%

$346,800

Cap Rate 7%

$247,714

Cap Rate 9%

$192,667

Alternative Uses

Best Use

Office B

$415.2K

$363.3K – $484.4K (±1% cap)

NOI $29,063 @ 7.0% cap · market cap 9.72%

Second Best

Flex RnD

$406.0K

$355.2K – $473.6K (±1% cap)

NOI $28,417 @ 7.0% cap · market cap 9.50%

Theoretical Best

Office A

$567.8K

$496.8K – $662.4K (±1% cap)

NOI $39,744 @ 7.0% cap · market cap 13.29%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Garden Center Bakery Real Estate Agency Travel Agency Restaurant

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

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12791, NY

547

Population

330

Households

1.7

Avg Household Size

52

Median Age

16%

College-Educated

99%

High-School Grad

3.6 sq mi

ZIP Area

152

Density / Sq Mi

$85,181

Median Household Income

$72,438

Median Earnings

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 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?

Frequently Asked Questions

What type of property is this?

Flex space - A separate office, conditioned side room, bathroom and upper-level storage complement the primary work area.

Where is this flex space located?

The property is located at 3858 State Route 52 Youngsville, NY.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: Main workshop is approximately 35' x 45' with 16' ceilings; 10' x 10' roll‑up garage door; Upgraded 200‑amp electrical service and three new heat pumps