Turnkey Deli Market With
For Sale
$889,000
56 Emerson Street, Kingston, NY 12401
Turnkey deli market business opportunity with modernized equipment and expanded catering and delivery services.
Property Size3,403 SF
Price / SF$261.24
Days on Market51
Property Features for 56 Emerson Street
General Information
Standard status
Active
Size
3,403 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$18,513
Amenities
Central air
Central Air Cooling
Central Heating
City Lot
concrete Flooring
Level
Linoleum Flooring
Natural gas Heating
wood Flooring
Building Details
Year Built
1950
Listing Agency:
FOUR SEASONS SOTHEBY'S INT'L-K
(845) 331-3100
Listed By:
CHRISTINA AHOUSE · License #10401288936
Source:
Corcoran
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 20 at 4:53AM
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 FOUR SEASONS SOTHEBY'S INT'L-K
Investment Insights
Based on property information with market context.
This offering is for a turnkey deli market operation anchored by a well-established neighborhood business. The property is operated as Terri's Deli Market and includes investments in equipment and kitchen infrastructure, along with operational systems designed to support day-to-day service. Over the past eight years, the current owners have modernized the business while preserving what customers have come to expect, with additional focus on expanded catering and delivery services.
The business is located at 56 Emerson Street in Uptown Kingston, in one of the area’s more desirable residential neighborhoods. The public remarks note a unique distinction: it is the neighborhood’s only commercial property. The property also benefits from grandfathered commercial zoning, described as providing rarity and long-term stability.
For a buyer seeking to continue an established local operation, this configuration offers a practical path to ownership with an in-place food service platform, upgraded kitchen and operational support, and established catering and delivery capabilities. For an experienced operator looking for an existing storefront with a proven neighborhood presence and the ability to run it as-is, the modernized, systems-based setup may help reduce the initial lift associated with launching from scratch.
The business is located at 56 Emerson Street in Uptown Kingston, in one of the area’s more desirable residential neighborhoods. The public remarks note a unique distinction: it is the neighborhood’s only commercial property. The property also benefits from grandfathered commercial zoning, described as providing rarity and long-term stability.
For a buyer seeking to continue an established local operation, this configuration offers a practical path to ownership with an in-place food service platform, upgraded kitchen and operational support, and established catering and delivery capabilities. For an experienced operator looking for an existing storefront with a proven neighborhood presence and the ability to run it as-is, the modernized, systems-based setup may help reduce the initial lift associated with launching from scratch.
Key Highlights
- Terri's Deli Market has been operating for more than five decades and is a well‑known Uptown Kingston neighborhood business.
- Recognized as the Best Deli in the Hudson Valley by the Chronogrammies (per public remarks).
- Business includes grandfathered commercial zoning (per public remarks).
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
$44,011
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
4.95%
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%
$880,220
$880.2K
Cap Rate 7%
$628,729
$628.7K
Cap Rate 9%
$489,011
$489.0K
Market Conditions
NOI Build-Up for 3,403 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
$61.3K $18.00/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$58.7K $17.24/SF
− OpEx
−$14.7K −$4.31/SF
NOI
$44.0K $12.93/SF
Area
Ulster County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$880,220
Cap Rate 7%
$628,729
Cap Rate 9%
$489,011
Alternative Uses
Best Use
Specialty Retail
$628.7K
$550.1K – $733.5K
NOI $44,011 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$31.82M
$27.85M – $37.13M
NOI $2,227,684 @ 7.0% cap · market cap 250.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,823
Businesses Nearby
5k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 31%
Citizens Bank
Shops & Services
3,427 visits/mo
0.3 miles
Kyoto Sushi
Dining
1,550 visits/mo
0.3 miles
Demographics for 12401, NY
35,493
Population
16,914
Households
2.1
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
58.9 sq mi
ZIP Area
603
Density / Sq Mi
$67,426
Median Household Income
$42,503
Median Earnings
$1,300
Median Rent
$285,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey deli market business opportunity with modernized equipment and expanded catering and delivery services.
Where is this conventional restaurant located?
The property is located at 56 Emerson Street Kingston, NY.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: Terri's Deli Market has been operating for more than five decades and is a well‑known Uptown Kingston neighborhood business.; Recognized as the Best Deli in the Hudson Valley by the Chronogrammies (per public remarks).; Business includes grandfathered commercial zoning (per public remarks).
