Mixed-Use Property with Steel
For Sale
$550,000
6940 Route 209, Kerhonkson, NY 12446
Business Highway zoning includes multiple structures for commercial, residential, agricultural, and storage uses.
Property Size6,321 SF
Days on Market52
Property Features for 6940 Route 209
General Information
Standard status
Active
Size
6,321 SF
Property subtype
Commercial
Zoning
BH
Taxes and HOA fees
Annual Taxes
$5,517
Building Details
Building Size
6,321 SF
Listing Agency:
RE/MAX Town & Country
(203) 240-7233
Listed By:
Howard Payson · License #NY10491208345
(203) 240-7233
Source:
Maurafinnegan
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 25 at 9:24AM
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 RE/MAX Town & Country
Investment Insights
Based on property information with market context.
This mixed-use property spans 5.077 acres with 315 feet of frontage on Route 209 in the Town of Wawarsing’s Business Highway Zoning District. Improvements include a 60' x 36' steel garage built in 2011, with an 18' ceiling height and 24' peak, three roll-up doors, three man-doors, a concrete floor, and 3-phase electric service. The building also has radiant heat capability.
A 20' x 40' double-wide manufactured home was renovated in 2020 with updated interior finishes, a kitchen, two bedrooms, a full bath, porch, propane water heater, municipal water, and an updated septic system. The original one-story motel structure contains five exterior-entry rooms and an attached residence with three bedrooms, kitchen, living and dining areas, and a full bath; it requires significant renovation. A 24' x 24' barn with two stalls, fenced corral, and a separate fenced field complete the property. The motel building also has a functioning private well.
A 20' x 40' double-wide manufactured home was renovated in 2020 with updated interior finishes, a kitchen, two bedrooms, a full bath, porch, propane water heater, municipal water, and an updated septic system. The original one-story motel structure contains five exterior-entry rooms and an attached residence with three bedrooms, kitchen, living and dining areas, and a full bath; it requires significant renovation. A 24' x 24' barn with two stalls, fenced corral, and a separate fenced field complete the property. The motel building also has a functioning private well.
Key Highlights
- 5.077 acres with 315 feet of frontage on Route 209
- 60' x 36' steel garage built in 2011 with 18' ceiling height and 24' peak
- Garage includes three roll‑up doors, three man‑doors, concrete floor, and 3‑phase electric service
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
$37,114
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
6.75%
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%
$742,280
$742.3K
Cap Rate 7%
$530,200
$530.2K
Cap Rate 9%
$412,378
$412.4K
Market Conditions
NOI Build-Up for 6,321 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
$56.9K $9.00/SF
− Vacancy
−$3.9K −$0.61/SF
EGI
$53.0K $8.39/SF
− OpEx
−$15.9K −$2.52/SF
NOI
$37.1K $5.87/SF
Area
Ulster County, NY
Vacancy
6.80%
Lease Rate
$9.00 /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%
$742,280
Cap Rate 7%
$530,200
Cap Rate 9%
$412,378
Alternative Uses
Best Use
Flex RnD
$1.42M
$1.24M – $1.65M
NOI $99,101 @ 7.0% cap · market cap 18.02%
Second Best
Mixed Use
$954.9K
$835.6K – $1.11M
NOI $66,845 @ 7.0% cap · market cap 12.15%
Theoretical Best
Multifamily LT 5
$59.11M
$51.72M – $68.96M
NOI $4,137,875 @ 7.0% cap · market cap 752.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 12446, NY
4,930
Population
2,775
Households
1.8
Avg Household Size
44
Median Age
36%
College-Educated
93%
High-School Grad
67.4 sq mi
ZIP Area
73
Density / Sq Mi
$83,344
Median Household Income
$53,784
Median Earnings
$1,151
Median Rent
$274,200
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?
Mixed-use property - Business Highway zoning includes multiple structures for commercial, residential, agricultural, and storage uses.
Where is this mixed-use property located?
The property is located at 6940 Route 209 Kerhonkson, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 5.077 acres with 315 feet of frontage on Route 209; 60' x 36' steel garage built in 2011 with 18' ceiling height and 24' peak; Garage includes three roll‑up doors, three man‑doors, concrete floor, and 3‑phase electric service
