Retail Property with Rental
For Sale
$499,000
42473 State Highway 28, Margaretville, NY 12455
Retail property with renovated apartment and additional land.
Property Size1,848 SF
Lot Size0.47 Acres
Days on Market107
Property Features for 42473 State Highway 28
General Information
Standard status
Active
Size
1,848 SF
Lot size
0.47 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,236
Building Details
Building Size
1,848 SF
Listing Agency:
Coldwell Banker Easton Properties
(631) 838-8462
Listed By:
Alejandro Rosario
(631) 838-8462
Source:
Elliman
Added: May 8
Changed: Aug 21
Last Checked: Aug 22 at 10:40AM
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 Easton Properties
Investment Insights
Based on property information with market context.
The property includes a retail space currently operating as a liquor store; the business is included in the sale, but the inventory is not. The property also features a renovated two-bedroom apartment on the second floor, which rents for $1,250 per month. The tenant is responsible for their own utilities. An adjacent lot of 0.47 acres is included and deeded separately, offering the potential to construct a single-family or two-family house. The location has a Walk Score of 48, indicating it is car-dependent, and a Bike Score of 16, meaning it is somewhat bikeable.
Key Highlights
- Liquor store business included in sale.
- Additional .47 acre lot included, deeded separately, buildable for single or two‑family house.
- Renovated 2‑bedroom apartment with rental income of $1,250/month.
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
$31,230
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
6.26%
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%
$624,600
$624.6K
Cap Rate 7%
$446,143
$446.1K
Cap Rate 9%
$347,000
$347.0K
Market Conditions
NOI Build-Up for 1,848 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
$46.6K $25.20/SF
− Vacancy
−$2.0K −$1.06/SF
EGI
$44.6K $24.14/SF
− OpEx
−$13.4K −$7.24/SF
NOI
$31.2K $16.90/SF
Area
Delaware County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$624,600
Cap Rate 7%
$446,143
Cap Rate 9%
$347,000
Alternative Uses
Best Use
Retail
$446.1K
$390.4K – $520.5K
NOI $31,230 @ 7.0% cap · market cap 6.26%
Second Best
Specialty Retail
$409.7K
$358.5K – $478.0K
NOI $28,680 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$906.7K
$793.4K – $1.06M
NOI $63,468 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 52%
Shops & Services 48%
Super Foodtown
Groceries
10,548 visits/mo
0.4 miles
Speedway
Shops & Services
9,840 visits/mo
0.4 miles
Demographics for 12455, NY
1,820
Population
1,697
Households
1.1
Avg Household Size
56
Median Age
27%
College-Educated
91%
High-School Grad
71.3 sq mi
ZIP Area
26
Density / Sq Mi
$74,271
Median Household Income
$34,531
Median Earnings
$1,297
Median Rent
$219,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Retail property with renovated apartment and additional land.
Where is this grocery and convenience store located?
The property is located at 42473 State Highway 28 Margaretville, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Liquor store business included in sale.; Additional .47 acre lot included, deeded separately, buildable for single or two‑family house.; Renovated 2‑bedroom apartment with rental income of $1,250/month.
