Renovated Dairy Manufacturing
For Sale
$1,250,000
50 & 64 Creamery Road, Bovina Center, NY 13740
COMMERCIAL - Bovina Center, NY
Property Size5,745 SF
Lot Size49.17 Acres
Price / SF$217.58
Days on Market60
Property Features for 50 & 64 Creamery Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Misc. Serv
Zoning description
Agricultural
Parking
30
Parking features
Driveway
Lot features
Irregular Lot
Elementary school district
Delaware Academy
Middle school district
Delaware Academy
High school district
Delaware Academy
Directions
From Main Street, Bovina Center, NY, turn onto Creamery Road. Destination is straight ahead.
Subdivision
Bovina-122200
Standard status
Active
APN
174.3-3-21
Size
5,745 SF
Lot size
49.17 Acres
Taxes and HOA fees
Tax Annual Amount
7962
Utilities
Sewer type
Public Sewer
Heating system
Space Heater, Radiant, Propane (Heating)
Water source
Public
Building Details
Year built
1902
Floors in Building
2
Building materials
SprayFoamInsulation
Roof type
Shingle, Metal
Listing Agency:
Jewett and Jewett LLC
(802) 578-0731
Listed By:
Douglas B. Clarke · License #10401312910
(347) 325-2698
Added: Jun 22
Changed: Aug 19
Last Checked: Aug 20 at 5:06AM
MLS# R1691826
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This manufacturing property includes a 5,745-square-foot creamery building on a 49.17-acre parcel in Bovina Center, New York. The facility contains dairy processing equipment for pasteurizing and bottling milk, churning and forming butter, producing yogurt, and making and packaging cheese. A reception and gift shop area connects to an observation deck above the processing floor. The creamery has been restored and upgraded with a standing-seam roof and new heating and cooling systems.
Additional improvements include a renovated milk barn, a carriage house with hand-hewn beams, several outbuildings for dry storage and expansion, and a new bridge over Brush Brook. The bridge provides access to an additional 44+ acres and a river walkway. The property has public water, public sewer, driveway parking, spray foam insulation, radiant and space-heater systems, propane heat, and shingle and metal roofing. Building capacity and permitted uses require Town of Bovina Planning Board approval.
Additional improvements include a renovated milk barn, a carriage house with hand-hewn beams, several outbuildings for dry storage and expansion, and a new bridge over Brush Brook. The bridge provides access to an additional 44+ acres and a river walkway. The property has public water, public sewer, driveway parking, spray foam insulation, radiant and space-heater systems, propane heat, and shingle and metal roofing. Building capacity and permitted uses require Town of Bovina Planning Board approval.
Key Highlights
- 5,745‑square‑foot creamery building on 49.17 acres
- Equipment supports milk, butter, yogurt, and cheese processing and packaging
- Restored creamery includes a standing‑seam roof and new heating and cooling systems
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, visitor areas, storage buildings, and upgraded building systems.
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: 5,745‑square‑foot creamery building on 49.17 acres; Equipment supports milk, butter, yogurt, and cheese processing and packaging; Restored creamery includes a standing‑seam roof and new heating and cooling systems
