Mixed-Use Building with Office
For Sale
$8,500,000
456 Broadway, Monticello, NY 12701
Fully leased ground-floor storefronts and 11 updated office suites with shared reception and waiting area.
Property Size24,150 SF
Days on Market96
Property Features for 456 Broadway
General Information
Standard status
Active
Size
24,150 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Floor
2
Office Units
11
Taxes and HOA fees
Annual Taxes
$9,168
Amenities
shared reception and waiting area
high-efficiency mini-split HVAC
security system
Building Details
Building Size
24,150 SF
Buildings
1
Tenancy
Multi
Listing Agency:
Curasi Realty, Inc
Listed By:
Marie Savage (mariesavage@curasirealty.com) · License #10401302009
(914) 562-1292
Source:
Edifyny
Added: Jul 30
Changed: Oct 25
Last Checked: Nov 1 at 5:09AM
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
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Investment Insights
Based on property information with market context.
This mixed-use building includes three fully leased ground-floor commercial storefronts and 11 updated professional office suites on the second floor. The office level features a shared reception and waiting area designed for tenant and client traffic. The property is serviced by municipal water and sewer and equipped with a security system. Heating and air conditioning are provided by high-efficiency mini-split systems.
Located at 456 Broadway in the Village of Monticello, the building is positioned on the community’s primary commercial corridor for retail and office visibility. Broadway has an estimated 8,000 to 12,000 vehicles per day, supporting consistent vehicle and pedestrian activity. Access is described as convenient to NYS Route 17 / Interstate 86, connecting the property to the greater Hudson Valley and Catskills region.
Built in 1920, the building is offered as a value-add mixed-use asset with established tenancy on the ground floor and a tenant-ready office suite layout upstairs.
Located at 456 Broadway in the Village of Monticello, the building is positioned on the community’s primary commercial corridor for retail and office visibility. Broadway has an estimated 8,000 to 12,000 vehicles per day, supporting consistent vehicle and pedestrian activity. Access is described as convenient to NYS Route 17 / Interstate 86, connecting the property to the greater Hudson Valley and Catskills region.
Built in 1920, the building is offered as a value-add mixed-use asset with established tenancy on the ground floor and a tenant-ready office suite layout upstairs.
Key Highlights
- Three fully leased ground‑floor commercial storefronts
- Second floor with 11 updated professional office suites plus shared reception and waiting area
- High‑efficiency mini‑split heating and air conditioning systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$339,066
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,781,320
$6.8M
Cap Rate 7%
$4,843,800
$4.8M
Cap Rate 9%
$3,767,400
$3.8M
Market Conditions
NOI Build-Up for 24,150 SF
Gross rent
$579.6K $24.00/SF
− Vacancy
−$127.5K −$5.28/SF
EGI
$452.1K $18.72/SF
− OpEx
−$113.0K −$4.68/SF
NOI
$339.1K $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 Rate 5%
$6,781,320
Cap Rate 7%
$4,843,800
Cap Rate 9%
$3,767,400
Alternative Uses
Best Use
Office B
$4.84M
$4.24M – $5.65M
NOI $339,066 @ 7.0% cap · market cap 3.99%
Second Best
Retail
$4.16M
$3.64M – $4.86M
NOI $291,510 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$6.62M
$5.80M – $7.73M
NOI $463,680 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
11
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased ground-floor storefronts and 11 updated office suites with shared reception and waiting area.
Where is this mixed-use property located?
The property is located at 456 Broadway Monticello, NY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Three fully leased ground‑floor commercial storefronts; Second floor with 11 updated professional office suites plus shared reception and waiting area; High‑efficiency mini‑split heating and air conditioning systems
