Building Details

Year Built 1999

Listing Agency: Malek Properties, Inc. c***@malekproperties.com Show Phone

Listed By: Carol Malek · License #31MA1121533 Show Phone

Source: Compass

Added: Jun 25, 2025 Changed: Aug 8 Last Checked: Aug 9 at 12:08PM

Report an Issue

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 Malek Properties, Inc.

Investment Insights

Based on property information with market context.

This commercial property, situated on over 35 acres in Bethel, NY, presents significant potential for various ventures. The location, at the end of a dead-end road, offers privacy, with an additional lot available for purchase directly on Route 17B for increased exposure and access. The favorable C-17B zoning permits a wide range of uses. The property includes several outbuildings, such as a garage with three bays, a machine port, two lifts, 16-foot ceilings, waste-oil heating, a restroom, and second-level storage. A second garage features two bays and an open carport. The land is level and cleared, providing ample storage and parking space. Two residences are located on the property: a 4-bedroom farmhouse and a 2-bedroom mobile home, along with a barn for additional storage. These residences are suitable for rental income, a live/work arrangement, or caretaker's quarters. The property is suitable for farming, a greenhouse/nursery, agri-business, an auto business, car enthusiasts, woodworking, artists, and various home professions. The extensive woodland offers potential for expansion. Natural features include rock outcroppings, a pond, and a stream. The property has frontage on two roads: Martin Lane and Airport Road, with additional frontage available on State Route 17B. The most recent use was as an auto mechanic and salvage yard with a current transferable license.

Key Highlights

• 35+ acres with favorable C‑17B zoning allowing for many permitted uses.
• Two residences (4 BR farmhouse and 2 BR mobile home) suitable for rental income, live/work, or caretaker quarters.
• Large garage with three bays, two lifts, 16‑foot ceilings, waste‑oil heating, restroom, and second‑level storage.**

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

$28,970

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

3.07%

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%

$579,400 $579.4K

Cap Rate 7%

$413,857 $413.9K

Cap Rate 9%

$321,889 $321.9K

Market Conditions

NOI Build-Up for 2,400 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

$43.2K $18.00/SF

− Vacancy

−$1.8K −$0.76/SF

EGI

$41.4K $17.24/SF

− OpEx

−$12.4K −$5.17/SF

NOI

$29.0K $12.07/SF

Area

Sullivan County, NY

Vacancy

4.20%

Lease Rate

$18.00 /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%

$579,400

Cap Rate 7%

$413,857

Cap Rate 9%

$321,889

Alternative Uses

Best Use

Retail

$413.9K

$362.1K – $482.8K (±1% cap)

NOI $28,970 @ 7.0% cap · market cap 3.07%

Second Best

Mixed Use

$294.2K

$257.4K – $343.2K (±1% cap)

NOI $20,592 @ 7.0% cap · market cap 2.18%

Theoretical Best

Office A

$658.3K

$576.0K – $768.0K (±1% cap)

NOI $46,080 @ 7.0% cap · market cap 4.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Auto shops

Suggested Use

Top Pick Plumbing Service Building Supply (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Home Appliance 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.

Location Intelligence

Trade Area within ½ mile

32

Businesses Nearby

Explore this area Business Placement

Demographics for 12762, NY

433

Population

306

Households

1.4

Avg Household Size

44

Median Age

25%

College-Educated

85%

High-School Grad

9.2 sq mi

ZIP Area

47

Density / Sq Mi

$112,545

Median Household Income

$50,347

Median Earnings

$1,354

Median Rent

$413,400

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial property with residences, garages, and potential for various ventures.

Where is this mixed-use property located?

The property is located at 41 Martin Lane Mongaup Valley, NY.

What is the asking price?

The asking price for this property is $944,500.

What are key features of this property?

This property features: 35+ acres with favorable C‑17B zoning allowing for many permitted uses.; Two residences (4 BR farmhouse and 2 BR mobile home) suitable for rental income, live/work, or caretaker quarters.; Large garage with three bays, two lifts, 16‑foot ceilings, waste‑oil heating, restroom, and second‑level storage.**