Renovated Mixed-Use
For Sale
$1,300,000
497 Broadway, Monticello, NY 12701
Four-unit property with commercial suites, a residential apartment, private parking, and B2 zoning along Broadway.
Property Size6,950 SF
Days on Market34
Property Features for 497 Broadway
General Information
Standard status
Active
Size
6,950 SF
Class
B
Total Parking Spaces
16
Property subtype
Commercial
Zoning
B2
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,999
Building Details
Building Size
6,950 SF
Year Built
2025
Buildings
1
Stories
2
Units
4
Listing Agency:
Curasi Realty, Inc.
(914) 562-1292
Listed By:
Marie Savage · License #10401302009
(914) 562-1292
Source:
Mahlerrealty
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 30 at 5:31PM
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 497 Broadway in Monticello, this mixed-use property contains four units: three commercial suites and one residential apartment. Two units are leased, while two commercial suites are vacant. The building was renovated and includes municipal water and sewer service, along with mini-split heating and air conditioning systems throughout. Constructed in 2025, the property offers updated interior spaces suited to a combination of commercial and residential occupancy.
A private parking lot provides approximately 16 dedicated spaces. The property sits on Broadway, Monticello’s central commercial corridor, with nearby businesses, government offices, healthcare providers, restaurants, and retailers. Access to NYS Route 17 / Interstate 86 connects the site with local and regional traffic. B2 zoning supports the property’s mixed-use classification.
A private parking lot provides approximately 16 dedicated spaces. The property sits on Broadway, Monticello’s central commercial corridor, with nearby businesses, government offices, healthcare providers, restaurants, and retailers. Access to NYS Route 17 / Interstate 86 connects the site with local and regional traffic. B2 zoning supports the property’s mixed-use classification.
Key Highlights
- Four units: three commercial suites and one residential apartment
- Two leased units plus two vacant commercial suites
- Approximately 16 dedicated parking spaces in a private lot
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
$83,892
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
6.45%
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%
$1,677,840
$1.7M
Cap Rate 7%
$1,198,457
$1.2M
Cap Rate 9%
$932,133
$932.1K
Market Conditions
NOI Build-Up for 6,950 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
$125.1K $18.00/SF
− Vacancy
−$5.3K −$0.76/SF
EGI
$119.8K $17.24/SF
− OpEx
−$36.0K −$5.17/SF
NOI
$83.9K $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%
$1,677,840
Cap Rate 7%
$1,198,457
Cap Rate 9%
$932,133
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $83,892 @ 7.0% cap · market cap 6.45%
Second Best
Mixed Use
$851.9K
$745.4K – $993.9K
NOI $59,631 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,440 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
783
Businesses Nearby
45k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 23%
Wendy's
Dining
10,288 visits/mo
0.5 miles
Chase Bank
Shops & Services
9,819 visits/mo
0.4 miles
Dollar General
Shops & Services
6,966 visits/mo
0.3 miles
Gulf Oil
Shops & Services
5,852 visits/mo
0.1 miles
TD Bank
Shops & Services
4,723 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-unit property with commercial suites, a residential apartment, private parking, and B2 zoning along Broadway.
Where is this mixed-use property located?
The property is located at 497 Broadway Monticello, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Four units: three commercial suites and one residential apartment; Two leased units plus two vacant commercial suites; Approximately 16 dedicated parking spaces in a private lot
