13-Unit Waterfront Mixed-Use
52 Sterling Road, Greenwood Lake, NY 10925
For Sale
$2,499,000
The property combines apartment accommodations, a bar with kitchen, and lake access on Greenwood Lake.
Property Size8,634 SF
Price / SF$289.44
Days on Market117
Property Features for 52 Sterling Road
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Utilities to Site
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Prominent Properties Sotheby's
(201) 768-9300
Listed By:
Gene Amsel · License NY #10301213680
(201) 755-7671
Source:
Jwsrealtygroup
Added: Jul 21
Changed: Nov 12
Last Checked: Nov 13 at 4:33PM
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 Prominent Properties Sotheby's
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Investment Insights
Based on property information with market context.
This 8,634-square-foot mixed-use property, built in 1900, contains 13 apartments alongside a bar and kitchen. The residences are arranged across several buildings, including four freestanding cabins; apartments 5 and 6 are above the bar. All apartments use electric heat. Roof updates include newer roofs on the bar, kitchen, two apartments, and apartment 9, plus a newer metal roof on the building containing apartments 1–4.
The property fronts Greenwood Lake and includes approximately 10 dock slips, as well as an additional back lot under a separate tax ID. The apartments may be used for short-term stays or year-round occupancy. Converting the bar to apartments is also identified as a possibility, subject to town approval.
The property fronts Greenwood Lake and includes approximately 10 dock slips, as well as an additional back lot under a separate tax ID. The apartments may be used for short-term stays or year-round occupancy. Converting the bar to apartments is also identified as a possibility, subject to town approval.
Key Highlights
- 13 apartments across multiple buildings, including four freestanding cabins
- 8,634 square feet; built in 1900
- Waterfront on Greenwood Lake with approximately 10 dock slips
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,503
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,230,060
$3.2M
Cap Rate 7%
$2,307,186
$2.3M
Cap Rate 9%
$1,794,478
$1.8M
Market Conditions
NOI Build-Up for 8,634 SF
Gross rent
$304.6K $35.28/SF
− Vacancy
−$11.0K −$1.27/SF
EGI
$293.6K $34.01/SF
− OpEx
−$132.1K −$15.30/SF
NOI
$161.5K $18.71/SF
Area
Orange County, NY
Vacancy
3.60%
Lease Rate
$35.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,230,060
Cap Rate 7%
$2,307,186
Cap Rate 9%
$1,794,478
Alternative Uses
Best Use
Apartment 5plus
$2.31M
$2.02M – $2.69M
NOI $161,503 @ 7.0% cap · market cap 6.46%
Second Best
Mixed Use
$1.07M
$939.8K – $1.25M
NOI $75,181 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,696 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
13
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
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Business Placement
Demographics for 10925, NY
4,341
Population
2,220
Households
2
Avg Household Size
48
Median Age
35%
College-Educated
92%
High-School Grad
9.2 sq mi
ZIP Area
472
Density / Sq Mi
$89,313
Median Household Income
$42,193
Median Earnings
$1,620
Median Rent
$342,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Orange County, NY
Properties on Market for Mixed-use properties in Orange County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines apartment accommodations, a bar with kitchen, and lake access on Greenwood Lake.
Where is this mixed-use property located?
The property is located at 52 Sterling Road Greenwood Lake, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 13 apartments across multiple buildings, including four freestanding cabins; 8,634 square feet; built in 1900; Waterfront on Greenwood Lake with approximately 10 dock slips
