Renovated Dairy Manufacturing
For Sale
$1,250,000
50 & 64 Creamery Road, Bovina Center, NY 13740
Dairy processing improvements include production equipment and a visitor-facing reception area.
Property Size5,745 SF
Days on Market71
Property Features for 50 & 64 Creamery Road
General Information
Standard status
Active
Size
5,745 SF
Total Parking Spaces
30
Property subtype
Commercial
Zoning
Misc. Serv, Agricultural
Taxes and HOA fees
Annual Taxes
$7,962
Amenities
gift shop/reception area
observation deck
scenic river walkway
Building Details
Building Size
5,745 SF
Year Built
1902
Buildings
7
Stories
2
Listing Agency:
Jewett and Jewett LLC
(347) 325-2698
Listed By:
Douglas B. Clarke · License #10401312910
(347) 325-2698
Source:
Homeprocny
Added: Jun 22
Changed: Aug 29
Last Checked: Aug 30 at 5:35PM
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 Jewett and Jewett LLC
Investment Insights
Based on property information with market context.
This manufacturing property combines a renovated creamery with agricultural improvements across 49+ acres in Bovina, NY. The 5,700+ square-foot facility includes equipment for pasteurizing and bottling milk, producing yogurt, churning butter, and making and packaging cheese. A reception and gift shop connect to an observation deck overlooking the processing floor. The creamery also has a standing-seam roof and updated heating and cooling systems.
Additional improvements include a renovated milk barn, a carriage house with hand-hewn beams, and multiple outbuildings used for dry storage and future expansion. A new bridge over Brush Brook provides access toward an additional 44+ acres and a river walkway. The property is located at 50 & 64 Creamery Rd, Bovina, NY 13740, and the improvements date to 1902. Building operations and permitted uses require approval from the Town of Bovina Planning Board.
Additional improvements include a renovated milk barn, a carriage house with hand-hewn beams, and multiple outbuildings used for dry storage and future expansion. A new bridge over Brush Brook provides access toward an additional 44+ acres and a river walkway. The property is located at 50 & 64 Creamery Rd, Bovina, NY 13740, and the improvements date to 1902. Building operations and permitted uses require approval from the Town of Bovina Planning Board.
Key Highlights
- 49+ acres in Bovina, NY with agricultural improvements and valley views
- 5,700+ square‑foot creamery with dairy processing and packaging equipment
- Production capabilities include milk, butter, yogurt, and cheese
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
$53,972
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
4.32%
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%
$1,079,440
$1.1M
Cap Rate 7%
$771,029
$771.0K
Cap Rate 9%
$599,689
$599.7K
Market Conditions
NOI Build-Up for 5,745 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
$82.7K $14.40/SF
− Vacancy
−$5.6K −$0.98/SF
EGI
$77.1K $13.42/SF
− OpEx
−$23.1K −$4.03/SF
NOI
$54.0K $9.39/SF
Area
Delaware County, NY
Vacancy
6.80%
Lease Rate
$14.40 /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%
$1,079,440
Cap Rate 7%
$771,029
Cap Rate 9%
$599,689
Alternative Uses
Best Use
Industrial
$771.0K
$674.7K – $899.5K
NOI $53,972 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,306 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 13740, NY
531
Population
491
Households
1.1
Avg Household Size
54
Median Age
48%
College-Educated
94%
High-School Grad
35.9 sq mi
ZIP Area
15
Density / Sq Mi
$78,333
Median Household Income
$42,375
Median Earnings
$783
Median Rent
$350,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Dairy processing improvements include production equipment and a visitor-facing reception area.
Where is this manufacturing property located?
The property is located at 50 & 64 Creamery Road Bovina Center, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 49+ acres in Bovina, NY with agricultural improvements and valley views; 5,700+ square‑foot creamery with dairy processing and packaging equipment; Production capabilities include milk, butter, yogurt, and cheese
