Commercial Land With Existing
For Sale
$774,900
740 Southwoods Drive, Monticello, NY 12701
Two-lot commercial site with CI zoning, highway exposure, road access, and an existing storage building.
Property Size3,252 SF
Days on Market152
Property Features for 740 Southwoods Drive
General Information
Standard status
Active
Size
3,252 SF
Property subtype
Commercial
Zoning
CI
Taxes and HOA fees
Annual Taxes
$5,347
Building Details
Building Size
3,252 SF
Year Built
1988
Buildings
2
Stories
2
Units
2
Listing Agency:
Malek Properties
(845) 798-2300
Listed By:
Carol Malek · License #31MA1121533
(845) 798-2300
Source:
Callexitfirst
Added: Apr 1
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Malek Properties
Investment Insights
Based on property information with market context.
This 2.24-acre commercial land offering comprises two lots with CI zoning and approximately 850 feet of frontage across two roads. The front parcel is cleared and includes a mixed-use building with more than 3,250 square feet, excluding a connecting breezeway. Improvements include a three-bedroom house and a small warehouse equipped with an overhead door; the building was constructed in 1988 and is currently rented for storage. The rear parcel fronts Southwoods Drive and remains wooded.
The property is positioned at 740 Southwoods Drive in Monticello, between exits 106 and 107 along NYS Route 17/Interstate 86. It is also near Crystal Run Healthcare, Resorts World Casino, shopping, restaurants, big-box stores, the Village of Monticello, and Holiday Mountain Fun Park. The two lots can be considered together or separately, subject to applicable approvals.
The property is positioned at 740 Southwoods Drive in Monticello, between exits 106 and 107 along NYS Route 17/Interstate 86. It is also near Crystal Run Healthcare, Resorts World Casino, shopping, restaurants, big-box stores, the Village of Monticello, and Holiday Mountain Fun Park. The two lots can be considered together or separately, subject to applicable approvals.
Key Highlights
- 2.24+/- acres across two lots
- CI zoning
- 850+/- feet of frontage on two roads
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
$33,079
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
4.27%
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%
$661,580
$661.6K
Cap Rate 7%
$472,557
$472.6K
Cap Rate 9%
$367,544
$367.5K
Market Conditions
NOI Build-Up for 3,252 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
$41.8K $12.84/SF
− Vacancy
−$2.8K −$0.87/SF
EGI
$38.9K $11.97/SF
− OpEx
−$5.8K −$1.80/SF
NOI
$33.1K $10.17/SF
Area
Sullivan County, NY
Vacancy
6.80%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
15.00%
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%
$661,580
Cap Rate 7%
$472,557
Cap Rate 9%
$367,544
Alternative Uses
Best Use
Warehouse
$472.6K
$413.5K – $551.3K
NOI $33,079 @ 7.0% cap · market cap 4.27%
Second Best
Mixed Use
$398.6K
$348.8K – $465.0K
NOI $27,902 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$892.0K
$780.5K – $1.04M
NOI $62,438 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two-lot commercial site with CI zoning, highway exposure, road access, and an existing storage building.
Where is this commercial land located?
The property is located at 740 Southwoods Drive Monticello, NY.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: 2.24+/- acres across two lots; CI zoning; 850+/- feet of frontage on two roads
