Improved Build-Ready Land with
For Sale
$249,000
628 Sackett Lake Rd, Monticello, NY 12701
Nearly one-acre improved lot with utilities in place and a 30-by-40 steel workshop with multiple overhead doors.
Property Size1,200 SF
Lot Size0.89 Acres
Price / SF$207.50
Days on Market16
Property Features for 628 Sackett Lake Rd
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.89 Acres
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$2,105
Listing Agency:
Century 21 Country realty
(845) 798-3086
Listed By:
Eleanor G Hyde
(845) 798-3086
Source:
Elliman
Added: Jul 24
Changed: Aug 8
Last Checked: Jul 24 at 6:25AM
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 Century 21 Country realty
Investment Insights
Based on property information with market context.
This improved land parcel in the Sackett Lake area is ready for immediate build planning, with a former residence removed in 2023. Existing on-site utilities and infrastructure include a working well, municipal sewer hook-up, and a new 200-amp electric service. A long gravel driveway provides access to a 30' x 40' steel building totaling 1,200 sq. ft., equipped with two 10' overhead doors and a 12' sliding door. The workshop also includes oil forced-air heat and its own 200-amp electric service, supporting day-to-day storage, workshop, or contractor-oriented use during construction and beyond.
For sale at 628 Sackett Lake Rd in Monticello, NY, the property includes cleared land, functional outbuildings, and utilities already on site—positioning it as a practical foundation for a new home site or related project. The parcel can also be purchased with an adjacent 6-acre lot (MLS #1026848).
The combination of cleared buildable area, in-place well and sewer, and a turnkey steel workshop with multiple vehicle-access doors makes the property well-suited for buyers seeking to start with key site improvements already completed.
For sale at 628 Sackett Lake Rd in Monticello, NY, the property includes cleared land, functional outbuildings, and utilities already on site—positioning it as a practical foundation for a new home site or related project. The parcel can also be purchased with an adjacent 6-acre lot (MLS #1026848).
The combination of cleared buildable area, in-place well and sewer, and a turnkey steel workshop with multiple vehicle-access doors makes the property well-suited for buyers seeking to start with key site improvements already completed.
Key Highlights
- .89‑acre improved lot in the Sackett Lake area with land cleared and ready for a new home or project
- Former residence removed in 2023; existing infrastructure remains, including a working well and municipal sewer hook‑up
- New 200‑amp electric service added to the lot and a dedicated 200‑amp electric service for the steel building
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
$16,474
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
6.62%
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%
$329,480
$329.5K
Cap Rate 7%
$235,343
$235.3K
Cap Rate 9%
$183,044
$183.0K
Market Conditions
NOI Build-Up for 1,200 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
$28.8K $24.00/SF
− Vacancy
−$3.5K −$2.88/SF
EGI
$25.3K $21.12/SF
− OpEx
−$8.9K −$7.39/SF
NOI
$16.5K $13.73/SF
Area
Sullivan County, NY
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$329,480
Cap Rate 7%
$235,343
Cap Rate 9%
$183,044
Alternative Uses
Best Use
Flex RnD
$235.3K
$205.9K – $274.6K
NOI $16,474 @ 7.0% cap · market cap 6.62%
Second Best
Industrial
$143.6K
$125.7K – $167.5K
NOI $10,052 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Nearly one-acre improved lot with utilities in place and a 30-by-40 steel workshop with multiple overhead doors.
Where is this flex space located?
The property is located at 628 Sackett Lake Rd Monticello, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: .89‑acre improved lot in the Sackett Lake area with land cleared and ready for a new home or project; Former residence removed in 2023; existing infrastructure remains, including a working well and municipal sewer hook‑up; New 200‑amp electric service added to the lot and a dedicated 200‑amp electric service for the steel building
