Mixed-Use Property with Expansion
For Sale
$1,700,000
452 Broadway, Monticello, NY 12701
Fully occupied commercial building combines renovated storefronts with unfinished upper-level space for future redevelopment.
Property Size7,316 SF
Lot Size0.60 Acres
Price / SF$232.37
Days on Market31
Property Features for 452 Broadway
General Information
Standard status
Active
Size
7,316 SF
Lot size
0.60 Acres
Property subtype
Commercial
Zoning
B2
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$6,999
Building Details
Building Size
7,316 SF
Year Built
1920
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Curasi Realty, Inc.
(914) 562-1292
Listed By:
Marie Savage · License #10401302009
(914) 562-1292
Source:
Mahlerrealty
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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 Curasi Realty, Inc.
Investment Insights
Based on property information with market context.
Located at 452 Broadway in Monticello, this mixed-use commercial property contains 7,316 square feet within a 25,950-square-foot lot. The building is 100% occupied by four commercial tenants, with renovated storefront areas and central air conditioning. Built in 1920, the property is zoned B-2 Mixed Use Commercial.
Approximately 5,000 square feet of unfinished second-floor space adds significant flexibility for future buildout. New windows have been installed in this upper-level area, which the source information identifies as suitable for residential apartments, professional office suites, coworking space, medical offices, or executive suites, subject to municipal approvals. The property is situated along Broadway in downtown Monticello and includes multiple SBLs associated with the sale.
Approximately 5,000 square feet of unfinished second-floor space adds significant flexibility for future buildout. New windows have been installed in this upper-level area, which the source information identifies as suitable for residential apartments, professional office suites, coworking space, medical offices, or executive suites, subject to municipal approvals. The property is situated along Broadway in downtown Monticello and includes multiple SBLs associated with the sale.
Key Highlights
- 7,316 SF mixed‑use commercial building on a 25,950‑square‑foot lot
- 100% occupied by four commercial tenants
- Approximately 5,000 square feet of unfinished second‑floor space
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
$102,717
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
6.04%
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%
$2,054,340
$2.1M
Cap Rate 7%
$1,467,386
$1.5M
Cap Rate 9%
$1,141,300
$1.1M
Market Conditions
NOI Build-Up for 7,316 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
$175.6K $24.00/SF
− Vacancy
−$38.6K −$5.28/SF
EGI
$137.0K $18.72/SF
− OpEx
−$34.2K −$4.68/SF
NOI
$102.7K $14.04/SF
Area
Sullivan County, NY
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,054,340
Cap Rate 7%
$1,467,386
Cap Rate 9%
$1,141,300
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,717 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,310 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,467 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied commercial building combines renovated storefronts with unfinished upper-level space for future redevelopment.
Where is this mixed-use property located?
The property is located at 452 Broadway Monticello, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 7,316 SF mixed‑use commercial building on a 25,950‑square‑foot lot; 100% occupied by four commercial tenants; Approximately 5,000 square feet of unfinished second‑floor space
