Mixed-Use Property with
For Sale
$215,000
Pending
6367 State Route 9, Chestertown, NY 12817
Three rented units combine a commercial storefront with residential apartments in downtown Chestertown.
Property Size1,927 SF
Days on Market147
Property Features for 6367 State Route 9
General Information
Standard status
Pending
Size
1,927 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$2,309
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Gallo Realty ADK Inc
(518) 810-5885
Listed By:
Julia Pucciarelli · License #10401329189
(518) 810-5885
Source:
Exprealty
Added: Apr 6
Changed: Aug 29
Last Checked: Aug 29 at 6:43PM
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 Gallo Realty ADK Inc
Investment Insights
Based on property information with market context.
This mixed-use property at 6367 State Route 9 combines a commercial space on the main level with two residential apartments above and below. The property contains 1,927 square feet, with the upper apartment configured as one bedroom and one bathroom. The basement apartment is also identified with one bedroom and one bathroom; its studio designation is omitted due to conflicting source details.
All three units are currently rented. A new septic system was installed 5 years ago, and the building was painted in 2021. The property is situated in Chestertown, with shops and restaurants within walking distance.
All three units are currently rented. A new septic system was installed 5 years ago, and the building was painted in 2021. The property is situated in Chestertown, with shops and restaurants within walking distance.
Key Highlights
- Three‑unit mixed‑use property with commercial and residential components
- 1,927 square feet at 6367 State Route 9, Chestertown, NY
- Main‑level commercial space currently occupied by a chiropractor office
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
$17,613
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
8.19%
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%
$352,260
$352.3K
Cap Rate 7%
$251,614
$251.6K
Cap Rate 9%
$195,700
$195.7K
Market Conditions
NOI Build-Up for 1,927 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
$27.1K $14.04/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$25.2K $13.06/SF
− OpEx
−$7.5K −$3.92/SF
NOI
$17.6K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$352,260
Cap Rate 7%
$251,614
Cap Rate 9%
$195,700
Alternative Uses
Best Use
Office B
$426.1K
$372.9K – $497.2K
NOI $29,830 @ 7.0% cap · market cap 13.87%
Second Best
Healthcare Medical
$372.5K
$326.0K – $434.6K
NOI $26,077 @ 7.0% cap · market cap 12.13%
Theoretical Best
Office A
$576.8K
$504.7K – $672.9K
NOI $40,375 @ 7.0% cap · market cap 18.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
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 Office 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?
Mixed-use property - Three rented units combine a commercial storefront with residential apartments in downtown Chestertown.
Where is this mixed-use property located?
The property is located at 6367 State Route 9 Chestertown, NY.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Three‑unit mixed‑use property with commercial and residential components; 1,927 square feet at 6367 State Route 9, Chestertown, NY; Main‑level commercial space currently occupied by a chiropractor office
