Versatile Commercial Space on
For Sale
Contact for pricing
Pending
650 Ulster Ave, Kingston, NY
4,400 SF commercial space on high-visibility Ulster Ave corridor.
Property Size4,400 SF
Lot Size0.42 Acres
Days on Market359
Property Features for 650 Ulster Ave
General Information
Standard status
Pending
Size
4,400 SF
Lot size
0.42 Acres
Property subtype
RETAIL
Listing Agency:
SVN | Deegan-Collins Commercial Realty
(845) 339-9100
Listed By:
Joseph Deegan · License ##10491205235
Source:
Moodyscre
Added: Aug 26, 2025
Changed: Aug 8
Last Checked: Aug 19 at 2:23PM
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 SVN | Deegan-Collins Commercial Realty
Investment Insights
Based on property information with market context.
This property features 4,400 square feet of well-maintained commercial space. The property is zoned Commercial 1, making it suitable for retail and vehicle-related businesses. A tenant is already in place. The location is on the high-visibility Ulster Avenue corridor in Kingston, offering strategic positioning. Ample parking is available for both customers and employees. The property is near 9W, the New York State Thruway, and the Kingston-Rhinecliff Bridge. It is also located in close proximity to complementary businesses and services.
Key Highlights
- Strategic location on high‑visibility Ulster Ave. corridor.
- Well‑established tenant in place.
- 4,400 SF of versatile, well‑maintained commercial space.
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
$52,391
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
8.73%
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%
$1,047,820
$1.0M
Cap Rate 7%
$748,443
$748.4K
Cap Rate 9%
$582,122
$582.1K
Market Conditions
NOI Build-Up for 4,400 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
$79.2K $18.00/SF
− Vacancy
−$4.4K −$0.99/SF
EGI
$74.8K $17.01/SF
− OpEx
−$22.5K −$5.10/SF
NOI
$52.4K $11.91/SF
Area
Ulster County, NY
Vacancy
5.50%
Lease Rate
$18.00 /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%
$1,047,820
Cap Rate 7%
$748,443
Cap Rate 9%
$582,122
Alternative Uses
Best Use
Retail
$748.4K
$654.9K – $873.2K
NOI $52,391 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$41.15M
$36.00M – $48.01M
NOI $2,880,343 @ 7.0% cap · market cap 480.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
82k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
Home Improvements & Furnishings 1%
McDonald's
Dining
26,435 visits/mo
0.5 miles
Dunkin' Donuts
Dining
12,142 visits/mo
0.4 miles
Speedway
Shops & Services
8,751 visits/mo
0.2 miles
Mobil
Shops & Services
7,568 visits/mo
0.3 miles
Hoffman Car Wash
Shops & Services
7,138 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 4,400 SF commercial space on high-visibility Ulster Ave corridor.
Where is this retail space located?
The property is located at 650 Ulster Ave Kingston, NY.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Strategic location on high‑visibility Ulster Ave. corridor.; Well‑established tenant in place.; 4,400 SF of versatile, well‑maintained commercial space.
