Residential Compound Value-Add
For Sale
$1,750,000
60 Peoples Road, Saugerties, NY 12477
12-acre parcel with development potential near NYS Thruway.
Property Size11,734 SF
Lot Size11.98 Acres
Price / SF$149.14
Days on Market140
Property Features for 60 Peoples Road
General Information
Standard status
Active
Size
11,734 SF
Lot size
11.98 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,530
Building Details
Year Built
2003
Listing Agency:
WIN MORRISON REALTY
(845) 339-9999
Listed By:
WINTON MORRISON · License #37MO0764882
Source:
Corcoran
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 8 at 2:33PM
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 WIN MORRISON REALTY
Investment Insights
Based on property information with market context.
This approximately 12-acre parcel features a five-building residential compound in a private setting off Peoples Road. One log home is fully operational with utilities in place. Four additional structures, built between 2003 and 2017, are in shell/frame condition, presenting a value-add opportunity for completion and stabilization. The property is serviced by a private well and septic system, with propane tanks installed. The site is well-maintained, featuring established landscaping and a central pond. While some wetlands are present, there is ample usable area for further development or reconfiguration. Zoned GB (General Business), the property allows flexibility for residential, hospitality, or mixed-use projects. Located minutes from the NYS Thruway, the site offers approximately 180-200 feet of frontage along the corridor, providing strong visibility and regional access. The property is ideal for value-add completion and lease-up, a short-term rental or hospitality concept, or redevelopment.
Key Highlights
- High Visibility: Enjoy ±180‑200 feet of frontage on NYS Thruway.
- Value‑Add Opportunity: Four unfinished residential structures (built 2003‑2017) are ready for completion.
- Flexible Zoning: Zoned GB (General Business) allowing for residential, hospitality, or mixed‑use development.
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
$62,704
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
3.58%
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%
$1,254,080
$1.3M
Cap Rate 7%
$895,771
$895.8K
Cap Rate 9%
$696,711
$696.7K
Market Conditions
NOI Build-Up for 11,734 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
$176.0K $15.00/SF
− Vacancy
−$44.0K −$3.75/SF
EGI
$132.0K $11.25/SF
− OpEx
−$69.3K −$5.91/SF
NOI
$62.7K $5.34/SF
Area
Ulster County, NY
Vacancy
25.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,254,080
Cap Rate 7%
$895,771
Cap Rate 9%
$696,711
Alternative Uses
Best Use
Hotel Hospitality
$895.8K
$783.8K – $1.05M
NOI $62,704 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$109.73M
$96.02M – $128.02M
NOI $7,681,351 @ 7.0% cap · market cap 438.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 12477, NY
18,559
Population
9,483
Households
2
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
66.7 sq mi
ZIP Area
278
Density / Sq Mi
$72,353
Median Household Income
$49,357
Median Earnings
$1,239
Median Rent
$292,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - 12-acre parcel with development potential near NYS Thruway.
Where is this commercial land located?
The property is located at 60 Peoples Road Saugerties, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: High Visibility: Enjoy ±180‑200 feet of frontage on NYS Thruway.; Value‑Add Opportunity: Four unfinished residential structures (built 2003‑2017) are ready for completion.; Flexible Zoning: Zoned GB (General Business) allowing for residential, hospitality, or mixed‑use development.
