Seven-Unit Apartment
For Sale
$1,495,000
3930 State Route 52, Callicoon, NY 12791
Commercial zoning and municipal water support a range of potential property plans.
Property Size15,060 SF
Lot Size10.76 Acres
Price / SF$99.27
Days on Market39
Property Features for 3930 State Route 52
General Information
Standard status
Active
Size
15,060 SF
Lot size
10.76 Acres
Property subtype
Multi Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
7
Tenant in Place
Yes
Building Details
Year Built
1949
Listing Agency:
ReAttached
Listed By:
Sarah Beckham Hooff · License #10491209114
(845) 420-8965
Source:
Neilcharlesrealestate
Added: Sep 24
Changed: Oct 30
Last Checked: Oct 30 at 1:56AM
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 ReAttached
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Investment Insights
Based on property information with market context.
Built in 1949 as a lodge, this apartment property contains seven residential units with a combined 17 bedrooms and 7.5 bathrooms. The third and fourth floors have framed space with plumbing and electrical infrastructure in place. A separate manager/caretaker cottage is included in the unit count; it does not pay rent. Newer roofing has been installed on several structures.
The property spans approximately 10.76 acres, including roughly three acres of usable level land. A creek runs along the frontage, and municipal water serves the site. Commercial zoning is in place. The upper-floor area was previously contemplated for four additional three-bedroom apartments, while the source also notes capacity for approximately 24 guest-room positions depending on final configuration and approvals.
The property spans approximately 10.76 acres, including roughly three acres of usable level land. A creek runs along the frontage, and municipal water serves the site. Commercial zoning is in place. The upper-floor area was previously contemplated for four additional three-bedroom apartments, while the source also notes capacity for approximately 24 guest-room positions depending on final configuration and approvals.
Key Highlights
- Seven residential units with 17 bedrooms and 7.5 bathrooms
- Approximately 10.76 acres, including roughly three usable level acres
- Third and fourth floors have framed space with plumbing and electrical infrastructure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,969
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,299,380
$2.3M
Cap Rate 7%
$1,642,414
$1.6M
Cap Rate 9%
$1,277,433
$1.3M
Market Conditions
NOI Build-Up for 15,060 SF
Gross rent
$227.7K $15.12/SF
− Vacancy
−$18.7K −$1.24/SF
EGI
$209.0K $13.88/SF
− OpEx
−$94.1K −$6.25/SF
NOI
$115.0K $7.63/SF
Area
Sullivan County, NY
Vacancy
8.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,299,380
Cap Rate 7%
$1,642,414
Cap Rate 9%
$1,277,433
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.92M
NOI $114,969 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $289,152 @ 7.0% cap · market cap 19.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
7
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Commercial zoning and municipal water support a range of potential property plans.
Where is this apartment building located?
The property is located at 3930 State Route 52 Callicoon, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Seven residential units with 17 bedrooms and 7.5 bathrooms; Approximately 10.76 acres, including roughly three usable level acres; Third and fourth floors have framed space with plumbing and electrical infrastructure
