Listing Agency: Jewett and Jewett LLC Show Phone

Listed By: Douglas B. Clarke · License #10401312910 Show Phone

Source: Nicholcityrealty

Added: Sep 14 Changed: Oct 25 Last Checked: Nov 1 at 4:56AM

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Investment Insights

Based on property information with market context.

This agricultural property combines a renovated dairy operation with a range of supporting improvements across 49+ acres in Bovina Center, NY. The Creamery Building includes equipment for pasteurizing and bottling milk, making butter, producing yogurt, and preparing several types of cheese. A gift shop and reception area connect to an observation deck overlooking the processing floor. The improvements also include a renovated milk barn, a carriage house with hand-hewn beams, several outbuildings for dry storage and expansion, and updated building systems including a standing-seam roof and new heating and cooling equipment.

A new bridge over Brush Brook connects the property to an additional 44+ acres and a river walkway. The Town of Bovina Planning Board must approve the operational capacity and permitted uses of the buildings. The property is located at 50 & 64 Creamery Road, Bovina, NY 13740.

Key Highlights

• 49+ acres in Bovina Center, NY
• Dairy processing equipment for milk, butter, yogurt, and cheese production
• Gift shop and reception area with an observation deck over the processing floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,972

Cap Rate

4.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,079,440 $1.1M

Cap Rate 7%

$771,029 $771.0K

Cap Rate 9%

$599,689 $599.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,745 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $197,306 @ 7.0% cap · market cap 15.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Catering Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store Real Estate Agency Gym & Fitness Center Farmer's Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Frequently Asked Questions

What type of property is this?

Farm - Agricultural property with dairy processing infrastructure, visitor-oriented spaces, and multiple supporting improvements.

Where is this farm 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 Center, NY; Dairy processing equipment for milk, butter, yogurt, and cheese production; Gift shop and reception area with an observation deck over the processing floor