Professional Office Building with
For Sale
$465,000
51 Sullivan Street, Wurtsboro, NY 12790
Versatile office property with private work areas, shared-office space, two levels, and on-site parking.
Property Size2,867 SF
Price / SF$162.19
Days on Market8
Property Features for 51 Sullivan Street
General Information
Standard status
Active
Size
2,867 SF
Total Parking Spaces
9
Property subtype
OFC
Zoning
GB
Amenities
reception area
private offices
copy room
coffee bar
co-working area
conference room
kitchenette
storage
central air conditioning
front and rear access
Building Details
Building Size
2,867 SF
Year Built
1985
Buildings
1
Stories
2
Abandoned
No
Listing Agency:
Keller Williams Hudson Valley Realty & United
Listed By:
Matthew Gibbs · License #10301219733
(845) 610-6088
Source:
Realnex
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 16 at 12:07PM
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 Keller Williams Hudson Valley Realty & United
Investment Insights
Based on property information with market context.
This 2,867-square-foot professional office building combines a practical workplace layout with distinctive interior features. The first floor includes a reception area, three private offices, a copy room, coffee bar with sink, half bath, and a separately accessed coworking or shared-office area. A spiral staircase connects to the second-floor library and conference room, which features a vaulted, wood-paneled ceiling. The upper level also includes a full tiled bath, kitchenette, and storage within the eave areas.
Built in 1985, the property has central air conditioning, front and rear access, and private parking for nine vehicles. GB zoning supports its office classification, while the two-level arrangement accommodates private offices, collaborative work areas, meeting space, and supporting amenities.
Built in 1985, the property has central air conditioning, front and rear access, and private parking for nine vehicles. GB zoning supports its office classification, while the two-level arrangement accommodates private offices, collaborative work areas, meeting space, and supporting amenities.
Key Highlights
- 2,867‑square‑foot professional office building
- Three private offices plus separately accessed coworking or shared‑office area
- Second‑floor library and conference room with vaulted, wood‑paneled ceiling
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Versatile office property with private work areas, shared-office space, two levels, and on-site 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‑square‑foot professional office building; Three private offices plus separately accessed coworking or shared‑office area; Second‑floor library and conference room with vaulted, wood‑paneled ceiling
