Building Details

Building Size 11,014 SF

Year Built 1970

Listing Agency: Century 21 Geba Realty d***@gmail.com Show Phone

Listed By: Donna M Geba · License #31GE0748279

Source: Resortrealtycatskills

Added: Jan 3 Changed: Aug 23 Last Checked: Aug 22 at 12:51PM

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Investment Insights

Based on property information with market context.

For sale, this multi-use agricultural property on 41 Bierstine Ln, Pine Island, NY, sits on 31+ acres of level land and includes approximately 11,014 SF across three buildings. The large steel warehouse totals 5,206 SF and features four overhead garage doors and an 18' ceiling height. The property also includes a 1,008 SF insulated office building with electric baseboard heat, offering three rooms and a full bathroom. A separate 4,800 SF farm worker residential building contains multiple units, including three fully outfitted and renovated units ready to occupy, one unit partially done, and three additional units needing renovation for a total of seven units.

Recent exterior improvements include a newer metal roof, newer siding, and newer windows. The property is served by two wells with newer electric, and it includes one pond that may support irrigation or aquatic farming, along with approximately 20 acres of black dirt.

Owner financing is available to qualified buyers.

Key Highlights

• 31+ acres of agricultural land in Pine Island, Orange County NY, with approx. 20 acres of black dirt and 1 pond for irrigation or aquatic farming.
• Total 11,014 SF across 3 buildings on one property, including a 5,206 SF steel warehouse with 4 overhead garage doors and 18' ceiling height.
• Warehouse includes 2 wells and new electric; newer metal roof, newer siding, and newer windows reported.

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

$109,096

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

8.40%

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%

$2,181,920 $2.2M

Cap Rate 7%

$1,558,514 $1.6M

Cap Rate 9%

$1,212,178 $1.2M

Market Conditions

NOI Build-Up for 11,014 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

$154.6K $14.04/SF

− Vacancy

−$26.3K −$2.39/SF

EGI

$128.3K $11.65/SF

− OpEx

−$19.3K −$1.75/SF

NOI

$109.1K $9.91/SF

Area

Orange County, NY

Vacancy

17.00%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

15.00%

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%

$2,181,920

Cap Rate 7%

$1,558,514

Cap Rate 9%

$1,212,178

Alternative Uses

Best Use

Warehouse

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $109,096 @ 7.0% cap · market cap 8.40%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.73M

$3.26M – $4.35M (±1% cap)

NOI $261,122 @ 7.0% cap · market cap 20.10%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Farms

Suggested Use

Top Pick Parking Lot & Garage

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

7

Businesses Nearby

Explore this area Business Placement

Demographics for 10969, NY

1,282

Population

478

Households

2.7

Avg Household Size

43

Median Age

28%

College-Educated

95%

High-School Grad

10.9 sq mi

ZIP Area

118

Density / Sq Mi

$154,127

Median Household Income

$62,008

Median Earnings

$397,700

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 farms 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?

Farm - 31+ acre farm property includes a steel warehouse with overhead doors and an on-site office plus farm worker housing.

Where is this farm located?

The property is located at 41 Bierstine Lane Pine Island, NY.

What is the asking price?

The asking price for this property is $1,299,000.

What are key features of this property?

This property features: 31+ acres of agricultural land in Pine Island, Orange County NY, with approx. 20 acres of black dirt and 1 pond for irrigation or aquatic farming.; Total 11,014 SF across 3 buildings on one property, including a 5,206 SF steel warehouse with 4 overhead garage doors and 18' ceiling height.; Warehouse includes 2 wells and new electric; newer metal roof, newer siding, and newer windows reported.