Building Details

Year Built 1988

Year Renovated 2021

Buildings 2

Stories 2

Units 5

Listing Agency: Gregory Tarone g***@taroneesq.com

Listed By: Greg Tarone · License #NY 10491212413

Source: Crexi

Added: Mar 31, 2024 Changed: Aug 8 Last Checked: Jul 15 at 6:09PM

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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 Gregory Tarone

Investment Insights

Based on property information with market context.

This mixed-use property features residential and commercial spaces situated on a strategic corner location along the highway. The property includes a house configured as a duplex, with two 2-bedroom apartments on the ground floor and a 3-bedroom apartment upstairs. In total, there are six rentable units: a 3-bedroom unit, a 2-bedroom unit, a large 1-bedroom unit, a small 1-bedroom unit, a studio, and a commercial space. The property also includes a small commercial office building, formerly used as a car lot office, offering additional possibilities for commercial use. The property consists of two single-family homes on one lot, plus the commercial office building. The property offers potential for immediate income generation, with each unit potentially worth $1500 or more per month, and commercial offices potentially generating at least $300 per month.

Key Highlights

• Mixed‑use property with 6 rentable units offering immediate income potential.
• Strategic corner location on the highway provides high visibility.
• Duplex featuring a 2‑bedroom and a 3‑bedroom apartment.

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

$51,480

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

7.41%

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%

$1,029,600 $1.0M

Cap Rate 7%

$735,429 $735.4K

Cap Rate 9%

$572,000 $572.0K

Market Conditions

NOI Build-Up for 6,000 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

$93.6K $15.60/SF

− Vacancy

−$11.2K −$1.87/SF

EGI

$82.4K $13.73/SF

− OpEx

−$30.9K −$5.15/SF

NOI

$51.5K $8.58/SF

Area

Sullivan County, NY

Vacancy

12.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

37.50%

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%

$1,029,600

Cap Rate 7%

$735,429

Cap Rate 9%

$572,000

Alternative Uses

Best Use

Office B

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $84,240 @ 7.0% cap · market cap 12.12%

Second Best

Mixed Use

$735.4K

$643.5K – $858.0K (±1% cap)

NOI $51,480 @ 7.0% cap · market cap 7.41%

Theoretical Best

Office A

$1.65M

$1.44M – $1.92M (±1% cap)

NOI $115,200 @ 7.0% cap · market cap 16.58%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop Storage Facility Big Box & Wholesale Store Hair Salon Nail Salon Tattoo & Piercing Shop

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

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Explore this area Business Placement

Demographics for 12762, NY

433

Population

306

Households

1.4

Avg Household Size

44

Median Age

25%

College-Educated

85%

High-School Grad

9.2 sq mi

ZIP Area

47

Density / Sq Mi

$112,545

Median Household Income

$50,347

Median Earnings

$1,354

Median Rent

$413,400

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

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use property with residential and commercial units on strategic corner.

Where is this mixed-use property located?

The property is located at 10 Britman Rd Mongaup Valley, NY.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: Mixed‑use property with 6 rentable units offering immediate income potential.; Strategic corner location on the highway provides high visibility.; Duplex featuring a 2‑bedroom and a 3‑bedroom apartment.