Building Details

Building Size 2,568 SF

Year Built 1948

Listing Agency: Keller Williams Hudson Valley

Listed By: Jessica A. Evans Show Phone

Source: Elliman

Added: Oct 24 Changed: Oct 25 Last Checked: Oct 25 at 2:44AM

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Investment Insights

Based on property information with market context.

Built in 1948, this mixed-use property combines a residential unit with commercial space formerly occupied by a medical practice. The residence has 2 bedrooms and 1 bathroom. Three garage bays provide additional enclosed space, and a partially unfinished basement offers storage area. The commercial layout previously served a medical practice; zoning and permitted uses should be verified by the buyer.

The property is located at 7256 Route 209 in Wawarsing, with frontage on Route 209. Its residential, commercial, garage, and basement components are arranged at one address.

Key Highlights

• Commercial space formerly used as a medical practice
• Residential unit has 2 bedrooms and 1 bathroom
• Three garage bays

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,157

Cap Rate

6.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$543,140 $543.1K

Cap Rate 7%

$387,957 $388.0K

Cap Rate 9%

$301,744 $301.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,568 SF

Gross rent

$46.2K $18.00/SF

− Vacancy

−$2.8K −$1.08/SF

EGI

$43.5K $16.92/SF

− OpEx

−$16.3K −$6.34/SF

NOI

$27.2K $10.58/SF

Area

Ulster County, NY

Vacancy

6.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$543,140

Cap Rate 7%

$387,957

Cap Rate 9%

$301,744

Alternative Uses

Best Use

Office B

$720.6K

$630.5K – $840.7K (±1% cap)

NOI $50,442 @ 7.0% cap · market cap 12.61%

Second Best

Healthcare Medical

$645.7K

$565.0K – $753.3K (±1% cap)

NOI $45,196 @ 7.0% cap · market cap 11.30%

Theoretical Best

Multifamily LT 5

$24.02M

$21.01M – $28.02M (±1% cap)

NOI $1,681,073 @ 7.0% cap · market cap 420.37%

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

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Auto Repair Shop HVAC Service Plumbing Service Storage Facility Building Supply Kitchen & Bath Showroom

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

43

Businesses Nearby

Explore this area Business Placement

Demographics for 12489, NY

267

Population

81

Households

3.3

Avg Household Size

43

Median Age

18%

College-Educated

100%

High-School Grad

3.6 sq mi

ZIP Area

74

Density / Sq Mi

$26,100

Median Household Income

$245,200

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - A two-bedroom residence, former medical office, and three-bay garage share a Route 209 address.

Where is this mixed-use property located?

The property is located at 7256 Route 209 Wawarsing, NY.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Commercial space formerly used as a medical practice; Residential unit has 2 bedrooms and 1 bathroom; Three garage bays