Kingston Mixed-Use Creative
For Sale
$2,500,000
76 Prince Street, Kingston, NY 12401
Renovated mixed-use property in Kingston's Midtown Arts District.
Property Size7,297 SF
Price / SF$342.61
Days on Market500
Property Features for 76 Prince Street
General Information
Standard status
Active
Size
7,297 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
T5F
Taxes and HOA fees
Annual Taxes
$31,823
Amenities
Yes
3.0
3
Building Details
Year Built
1895
Listing Agency:
The Kinderhook Group, Inc.
Listed By:
Sarah Finch · License #10301221793
(845) 802-5005
Source:
Compass
Added: Apr 28, 2025
Changed: Sep 8
Last Checked: Jul 16 at 7:32AM
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 The Kinderhook Group, Inc.
Investment Insights
Based on property information with market context.
Located in the Midtown Kingston Arts District, 76 Prince Street is a renovated mixed-use property offering over 7,000 square feet of space. The building has undergone a complete transformation and features stylish and functional spaces. The ground floor currently serves as an art gallery, studio, production space, and event venue, with elements of a commercial kitchen in place. The flexible T5F zoning allows for a wide range of uses, including the potential for full residential conversion. Upstairs, a two-bedroom loft features natural light, soaring ceilings, original wood floors, and an open-concept kitchen, with private access to rear parking. Currently operating as a short-term rental, it also presents an ideal opportunity for an owner-occupied live/work lifestyle. The property has a private rear parking lot with space for 10+ vehicles. Additional municipal parking across the street supports the building's 200-person capacity. It is located minutes from the NYS Thruway, Uptown Kingston, and the Rondout waterfront, 90 miles from the GWB and only 20 minutes to Amtrak/Metro North stations.
Key Highlights
- 7,000+ sq ft renovated mixed‑use property in Kingston Arts District.
- Flexible T5F zoning allows for diverse uses, including residential conversion.
- Currently operating as a successful short‑term rental with a stunning two‑bedroom loft.
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
$143,331
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
5.73%
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%
$2,866,620
$2.9M
Cap Rate 7%
$2,047,586
$2.0M
Cap Rate 9%
$1,592,567
$1.6M
Market Conditions
NOI Build-Up for 7,297 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
$218.9K $30.00/SF
− Vacancy
−$27.8K −$3.81/SF
EGI
$191.1K $26.19/SF
− OpEx
−$47.8K −$6.55/SF
NOI
$143.3K $19.64/SF
Area
Ulster County, NY
Vacancy
12.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,866,620
Cap Rate 7%
$2,047,586
Cap Rate 9%
$1,592,567
Alternative Uses
Best Use
Apartment 5plus
$59.43M
$52.00M – $69.34M
NOI $4,160,186 @ 7.0% cap · market cap 166.41%
Second Best
Office B
$2.05M
$1.79M – $2.39M
NOI $143,331 @ 7.0% cap · market cap 5.73%
Theoretical Best
Multifamily LT 5
$68.24M
$59.71M – $79.61M
NOI $4,776,787 @ 7.0% cap · market cap 191.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,505
Businesses Nearby
Explore this area
Business Placement
Demographics for 12401, NY
35,493
Population
16,914
Households
2.1
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
58.9 sq mi
ZIP Area
603
Density / Sq Mi
$67,426
Median Household Income
$42,503
Median Earnings
$1,300
Median Rent
$285,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated mixed-use property in Kingston's Midtown Arts District.
Where is this mixed-use property located?
The property is located at 76 Prince Street Kingston, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 7,000+ sq ft renovated mixed‑use property in Kingston Arts District.; Flexible T5F zoning allows for diverse uses, including residential conversion.; Currently operating as a successful short‑term rental with a stunning two‑bedroom loft.
