Building Details

Year Built 1964

Buildings 2

Listing Agency: Preferred Country Properties

Listed By: Natalia De Amorim Show Phone

Source: Upstatecurious

Added: Aug 7 Changed: Sep 5 Last Checked: Oct 7 at 4:56PM

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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 Preferred Country Properties

Investment Insights

Based on property information with market context.

This multifamily property comprises two buildings with eight residential units totaling 8,208 square feet on 1.4 acres. Each apartment has two bedrooms, a full bathroom, an L-shaped living and dining area, and a kitchen equipped with a stove, refrigerator, and range hood. Shared laundry areas with washers and dryers are located within both buildings. The property is fully occupied and described as being in very good condition.

Residents have access to a private asphalt parking lot, while separate meters serve the units. The property is located in the center of Ghent Hamlet, within walking distance of Dairy Queen, free tennis courts, a sports field with swing sets, and the post office. Chatham Village, schools, and the Taconic State Parkway are 3 miles away; Hudson’s Warren Street and Amtrak are 10 miles away. Horseback riding lessons are available 5 minutes from the property.

Key Highlights

• Two buildings with 8 identical apartment units
• 8,208 square feet on 1.4 acres
• Each unit includes 2 bedrooms and 1 full bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,196

Cap Rate

6.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,543,920 $1.5M

Cap Rate 7%

$1,102,800 $1.1M

Cap Rate 9%

$857,733 $857.7K

Market Conditions

NOI Build-Up for 8,208 SF

Gross rent

$147.7K $18.00/SF

− Vacancy

−$7.4K −$0.90/SF

EGI

$140.4K $17.10/SF

− OpEx

−$63.2K −$7.69/SF

NOI

$77.2K $9.41/SF

Area

Columbia County, NY

Vacancy

5.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,543,920

Cap Rate 7%

$1,102,800

Cap Rate 9%

$857,733

Alternative Uses

Best Use

Apartment 5plus

$1.10M

$965.0K – $1.29M (±1% cap)

NOI $77,196 @ 7.0% cap · market cap 6.43%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.03M

$1.78M – $2.37M (±1% cap)

NOI $142,149 @ 7.0% cap · market cap 11.85%

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

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Electrical Service Big Box & Wholesale Store Storage Facility Furniture & Home Goods Bakery Grocery & Convenience Store

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

8

Residential units

100%

Occupancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

41

Businesses Nearby

Explore this area Business Placement

Demographics for 12075, NY

3,135

Population

1,348

Households

2.3

Avg Household Size

50

Median Age

37%

College-Educated

88%

High-School Grad

36.3 sq mi

ZIP Area

86

Density / Sq Mi

$83,443

Median Household Income

$48,368

Median Earnings

$1,375

Median Rent

$384,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Two buildings offer fully occupied residential units with private parking and shared laundry facilities.

Where is this apartment building located?

The property is located at 8587 85-87 Nelson Ave Ghent, NY.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Two buildings with 8 identical apartment units; 8,208 square feet on 1.4 acres; Each unit includes 2 bedrooms and 1 full bath