Mixed-Use Estate with Commercial
51 Redder Rd Pine Bush, NY 12566
51 Redder Rd, Pine Bush, NY, 12566
$3,500,000
Pending
For Sale
$3,500,000
Pending
Estate includes a 15,000-square-foot commercial building plus two updated two-bedroom apartments above it.
Property Size15,000 SF
Days on Market75
Property Features for 51 Redder Rd
General Information
- Standard status
- Pending
- Size
- 15,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2022
Listing agency
SERHANT LLC
(914) 772-2603
Listed by
Jake Garay
(914) 772-2603
Source
Elliman
Added: May 9 Updated: Jul 21 at 1:19AM Checked: Jul 21 at 6:33AM
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 SERHANT LLC
Investment Insights
Based on property information with market context.
This distinctive Hudson Valley estate combines income-producing and hospitality-ready features with a substantial commercial building and a separate custom workshop. The main 15,000-square-foot commercial building includes space above with two updated two-bedroom apartments, each with an open-concept layout, full bath, in-unit laundry, and turnkey accommodations. A separate 4,500+ square-foot barn has been reimagined as an elevated clubhouse and guest residence, featuring a full chef’s kitchen with ZLINE appliances, three bedrooms, a full bath, a movie theatre, a home gym, and expansive gathering areas.
The property is situated on agricultural and residential zoning, with additional undeveloped acreage that includes rolling pastures, ponds, wooded trails, and sweeping mountain views. A cleared build site overlooks the ponds and surrounding landscape, providing space for an additional residence or future expansion.
All structures and outdoor amenities support multiple uses while preserving a private, secluded setting at the base of the Shawangunk Mountains, just minutes from Minnewaska State Park, the Shawangunk Mountains and Trail, and Mohonk.
The property is situated on agricultural and residential zoning, with additional undeveloped acreage that includes rolling pastures, ponds, wooded trails, and sweeping mountain views. A cleared build site overlooks the ponds and surrounding landscape, providing space for an additional residence or future expansion.
All structures and outdoor amenities support multiple uses while preserving a private, secluded setting at the base of the Shawangunk Mountains, just minutes from Minnewaska State Park, the Shawangunk Mountains and Trail, and Mohonk.
Key Highlights
- Year built 2022: 15,000‑square‑foot commercial building with separate custom workshop.
- Converted 4,500+ square‑foot barn includes elevated clubhouse/guest residence with chef’s kitchen (ZLINE appliances), 3BR, full bath, movie theatre, and home gym.
- Two updated two‑bedroom apartments above the commercial building, each with open‑concept layout, full bath, and laundry.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $441.0k | $29.40 |
| − Vacancy | −$15.1k | −$1.01 |
| EGI | $425.9k | $28.39 |
| − OpEx | −$127.8k | −$8.52 |
| NOI | $298.1k | $19.88 |
15,000 SF · lease $29.40/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$4.26M
$3.73M – $4.97M
NOI $298,142 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$4.01M
$3.51M – $4.68M
NOI $280,582 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$5.08M
$4.45M – $5.93M
NOI $355,622 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Estate includes a 15,000-square-foot commercial building plus two updated two-bedroom apartments above it.
Where is this duplex located?
The property is located at 51 Redder Rd Pine Bush, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Year built 2022: 15,000‑square‑foot commercial building with separate custom workshop.; Converted 4,500+ square‑foot barn includes elevated clubhouse/guest residence with chef’s kitchen (ZLINE appliances), 3BR, full bath, movie theatre, and home gym.; Two updated two‑bedroom apartments above the commercial building, each with open‑concept layout, full bath, and laundry.
