Mixed-Use Building with
New
For Sale
$430,000
46 Main Street, Phoenicia, NY 12464
Combined commercial and residential layout includes a deli storefront, living areas, kitchen, bathrooms, and an enclosed porch.
Property Size650 SF
Price / SF$661.54
Days on Market5
Property Features for 46 Main Street
General Information
Standard status
Active
Size
650 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,936
Amenities
Central air
Central Air Cooling
Building Details
Year Built
1950
Buildings
1
Listing Agency:
RUTH GALE REALTY
(845) 688-5610
Listed By:
RICHARD GREENSPAN · License #SL3545553
Source:
Corcoran
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 6:52AM
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 RUTH GALE REALTY
Investment Insights
Based on property information with market context.
This mixed-use property pairs the Phoenicia Deli with substantial residential space in the same building. The commercial deli area measures approximately 650 square feet, while the first-floor residence provides about 1140 square feet with a kitchen, family room, coal fired type fireplace, half bath, and enclosed porch.
Upstairs, approximately 547 square feet includes a bedroom, sitting area, full bathroom, and an exterior deck overlooking Main Street. Built in 1950, the property is located at 46 Main Street in Phoenicia, New York, and combines storefront operations with on-site living space.
Upstairs, approximately 547 square feet includes a bedroom, sitting area, full bathroom, and an exterior deck overlooking Main Street. Built in 1950, the property is located at 46 Main Street in Phoenicia, New York, and combines storefront operations with on-site living space.
Key Highlights
- Approximately 650 square feet of deli space
- About 1140 square feet of first‑floor residential space
- Approximately 547 square feet upstairs with bedroom, sitting area, and full bathroom
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
$12,768
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
2.97%
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%
$255,360
$255.4K
Cap Rate 7%
$182,400
$182.4K
Cap Rate 9%
$141,867
$141.9K
Market Conditions
NOI Build-Up for 650 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
$19.5K $30.00/SF
− Vacancy
−$2.5K −$3.81/SF
EGI
$17.0K $26.19/SF
− OpEx
−$4.3K −$6.55/SF
NOI
$12.8K $19.64/SF
Area
Ulster County, NY
Vacancy
12.70%
Lease Rate
$30.00 /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%
$255,360
Cap Rate 7%
$182,400
Cap Rate 9%
$141,867
Alternative Uses
Best Use
Office B
$182.4K
$159.6K – $212.8K
NOI $12,768 @ 7.0% cap · market cap 2.97%
Second Best
Specialty Retail
$120.1K
$105.1K – $140.1K
NOI $8,406 @ 7.0% cap · market cap 1.95%
Theoretical Best
Multifamily LT 5
$6.08M
$5.32M – $7.09M
NOI $425,505 @ 7.0% cap · market cap 98.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Explore this area
Business Placement
Demographics for 12464, NY
955
Population
972
Households
1
Avg Household Size
55
Median Age
46%
College-Educated
97%
High-School Grad
45.3 sq mi
ZIP Area
21
Density / Sq Mi
$75,291
Median Household Income
$955
Median Rent
$368,400
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 - Combined commercial and residential layout includes a deli storefront, living areas, kitchen, bathrooms, and an enclosed porch.
Where is this mixed-use property located?
The property is located at 46 Main Street Phoenicia, NY.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Approximately 650 square feet of deli space; About 1140 square feet of first‑floor residential space; Approximately 547 square feet upstairs with bedroom, sitting area, and full bathroom
