Listing Agency: Hunt Real Estate ERA d***@huntrealestate.com Show Phone

Listed By: Barbara Kearney · License #10301222510 Show Phone

Source: Exprealty

Added: Apr 13 Changed: Oct 13 Last Checked: Oct 15 at 1:47AM

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Investment Insights

Based on property information with market context.

This flex-space property includes a 3,775-square-foot main garage building, a detached 1,540-square-foot garage, and two additional canopies measuring 528 square feet and 70 square feet. The improvements provide a range of enclosed and covered areas for storage, workshop activities, equipment, vehicles, or materials.

The property encompasses 1.6 acres at 6336 State Route 9 in Chestertown, New York. Its in-town setting and direct State Route 9 address provide convenient access, while the site offers room for storage, expansion, or future reconfiguration. The combination of multiple structures and open land supports a variety of commercial, recreational, contractor, and hobbyist applications.

Key Highlights

• 3,775 sq ft main garage building
• Detached 1,540 sq ft garage
• Two canopies measuring 528 sq ft and 70 sq ft

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,347

Cap Rate

8.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$466,940 $466.9K

Cap Rate 7%

$333,529 $333.5K

Cap Rate 9%

$259,411 $259.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,775 SF

Gross rent

$35.8K $9.48/SF

− Vacancy

−$2.4K −$0.64/SF

EGI

$33.4K $8.84/SF

− OpEx

−$10.0K −$2.65/SF

NOI

$23.3K $6.18/SF

Area

Warren County, NY

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$466,940

Cap Rate 7%

$333,529

Cap Rate 9%

$259,411

Alternative Uses

Best Use

Flex RnD

$700.4K

$612.8K – $817.1K (±1% cap)

NOI $49,026 @ 7.0% cap · market cap 17.51%

Second Best

Warehouse

$405.0K

$354.4K – $472.5K (±1% cap)

NOI $28,350 @ 7.0% cap · market cap 10.13%

Theoretical Best

Office A

$1.13M

$988.7K – $1.32M (±1% cap)

NOI $79,094 @ 7.0% cap · market cap 28.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store Dental Office Storage Facility Furniture & Home Goods Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

170

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12817, NY

2,142

Population

2,115

Households

1

Avg Household Size

54

Median Age

43%

College-Educated

95%

High-School Grad

51.3 sq mi

ZIP Area

42

Density / Sq Mi

$90,469

Median Household Income

$37,425

Median Earnings

$876

Median Rent

$304,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Multiple covered structures support storage, workshop, equipment, and vehicle needs.

Where is this flex space located?

The property is located at 6336 State Route 9 Chestertown, NY.

What is the asking price?

The asking price for this property is $280,000.

What are key features of this property?

This property features: 3,775 sq ft main garage building; Detached 1,540 sq ft garage; Two canopies measuring 528 sq ft and 70 sq ft