Mixed-Use Estate with Commercial
For Sale
$3,500,000
51 Redder Road, Pine Bush, NY 12566
Estate includes a 15,000-square-foot commercial building plus two updated two-bedroom apartments above it.
Property Size15,000 SF
Price / SF$233.33
Days on Market167
Property Features for 51 Redder Road
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Commercial
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,333
Building Details
Year Built
2022
Listing Agency:
Serhant LLC
(516) 517-2400
Listed By:
Jamie Aisenstat (Jamie@serhant.com)
(646) 480-7665
Source:
Educatorsrealty
Added: May 9
Changed: Oct 3
Last Checked: Oct 20 at 8:00PM
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
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Investment Insights
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$298,142
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,962,840
$6.0M
Cap Rate 7%
$4,259,171
$4.3M
Cap Rate 9%
$3,312,689
$3.3M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$441.0K $29.40/SF
− Vacancy
−$15.1K −$1.01/SF
EGI
$425.9K $28.39/SF
− OpEx
−$127.8K −$8.52/SF
NOI
$298.1K $19.88/SF
Area
Orange County, NY
Vacancy
3.42%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,962,840
Cap Rate 7%
$4,259,171
Cap Rate 9%
$3,312,689
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 authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
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Business Placement
Demographics for 12566, NY
10,923
Population
4,454
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
93%
High-School Grad
55.8 sq mi
ZIP Area
196
Density / Sq Mi
$110,154
Median Household Income
$52,122
Median Earnings
$1,414
Median Rent
$333,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 Road 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.
