Professional Office
For Sale
$465,000
51 Sullivan Street, Wurtsboro, NY 12790
Commercial Sale, Wurtsboro, NY
Property Size2,867 SF
Lot Size0.34 Acres
Price / SF$162.19
Days on Market16
Property Features for 51 Sullivan Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GB
Rooms
Basement
Parking
9
Parking features
Parking Lot, Off Street
Basement
Crawl Space, Finished
Lot features
Corner Lot, Landscaped, Level
Elementary school district
Monticello
Middle school district
Monticello
High school district
Contact Agent
Directions
From 17M - Exit 113-US 209 Wurtsboro/Ellenville, 1.3 miles turn right onto Sullivan St. From Ellenville - US 209 and turn left onto Sullivan St.
Standard status
Active
APN
4003-107-0-0001-018-004
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11770
Utilities
Sewer type
Septic Tank
Heating system
Oil, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
coffee bar
full tiled bath
kitchenette
storage
vaulted wood-paneled ceiling
Building Details
Year built
1985
Floors in Building
2
Building materials
Brick, Vinyl Siding
Listing Agency:
KW Hudson Valley United · Keller Williams Realty
(845) 610-6065
Listed By:
Jason L McGovern · License #10301205773
(914) 760-7331
Added: Aug 24
Changed: Sep 8
Last Checked: Sep 8 at 9:06PM
MLS# 1047121
Copyright © 2026 OneKey MLS. 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 2,867-square-foot professional office building occupies a 0.34-acre parcel and was constructed in 1985. The first floor includes a reception area, three private offices, a copy room, coffee bar with sink, half bath, and a separate shared-office area with its own entrance. Upstairs, a spiral staircase leads to a library or conference room with a vaulted wood-paneled ceiling, along with a full tiled bath, kitchenette, and storage in the eaves.
The property is located on Sullivan Street in downtown Wurtsboro, next to the U.S. Post Office. It has front and rear entrances, a private parking lot for 9 vehicles, central air conditioning, oil-fired forced-air heat, public water, and a septic tank. Construction includes brick and vinyl siding, and the property is currently occupied by a CPA firm.
The property is located on Sullivan Street in downtown Wurtsboro, next to the U.S. Post Office. It has front and rear entrances, a private parking lot for 9 vehicles, central air conditioning, oil-fired forced-air heat, public water, and a septic tank. Construction includes brick and vinyl siding, and the property is currently occupied by a CPA firm.
Key Highlights
- 2,867 SF professional office building on a 0.34‑acre parcel
- First floor includes reception, 3 private offices, copy room, coffee bar, and half bath
- Separate shared‑office area with its own entrance
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
$40,253
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
8.66%
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%
$805,060
$805.1K
Cap Rate 7%
$575,043
$575.0K
Cap Rate 9%
$447,256
$447.3K
Market Conditions
NOI Build-Up for 2,867 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
$68.8K $24.00/SF
− Vacancy
−$15.1K −$5.28/SF
EGI
$53.7K $18.72/SF
− OpEx
−$13.4K −$4.68/SF
NOI
$40.3K $14.04/SF
Area
Sullivan County, NY
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$805,060
Cap Rate 7%
$575,043
Cap Rate 9%
$447,256
Alternative Uses
Best Use
Office B
$575.0K
$503.2K – $670.9K
NOI $40,253 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$786.4K
$688.1K – $917.4K
NOI $55,046 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
Business Placement
Demographics for 12790, NY
4,817
Population
2,827
Households
1.7
Avg Household Size
47
Median Age
32%
College-Educated
89%
High-School Grad
51.5 sq mi
ZIP Area
94
Density / Sq Mi
$82,772
Median Household Income
$52,448
Median Earnings
$1,414
Median Rent
$203,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - GB-zoned office property with multiple private work areas, shared-office space, and dedicated off-street parking.
Where is this office building located?
The property is located at 51 Sullivan Street Wurtsboro, NY.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2,867 SF professional office building on a 0.34‑acre parcel; First floor includes reception, 3 private offices, copy room, coffee bar, and half bath; Separate shared‑office area with its own entrance
