Mixed-Use Property with
For Sale
$999,999
97 UNION ST, Montgomery, NY 12549
Two buildings combine a deli/pizzeria storefront with residential accommodations and on-site parking.
Property Size3,228 SF
Price / SF$309.79
Days on Market217
Property Features for 97 UNION ST
General Information
Standard status
Active
Size
3,228 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$9,994
Amenities
Window/Wall Unit
3
Parking.
20 Parking Spaces. Driveway, Lot.
Level
Level.
Building Details
Year Built
1954
Listing Agency:
Keller Williams Realty
(845) 494-4715
Listed By:
Richard Baxter · License #10401254733
(845) 494-4715
Source:
Xome
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 30 at 8:16PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This mixed-use offering includes two separate buildings in Montgomery’s Historic District. The commercial building is currently used as a deli/pizzeria storefront and contains a kitchen, office, half bathroom, and parking area. Its second floor provides a separate three-bedroom, one-bathroom apartment measuring approximately 1,124 square feet.
The adjoining residential building is a two-bedroom, one-bathroom single-family home with approximately 782 square feet. The property was built in 1954 and sits approximately half a mile from the village center. Nearby amenities identified for the area include restaurants, village shops, banking and postal services, the Montgomery Senior Center, Veterans Memorial Park, Paul Jr. Designs Dog-Park, and the Wallkill River. The property is also within the Valley Central School District.
The adjoining residential building is a two-bedroom, one-bathroom single-family home with approximately 782 square feet. The property was built in 1954 and sits approximately half a mile from the village center. Nearby amenities identified for the area include restaurants, village shops, banking and postal services, the Montgomery Senior Center, Veterans Memorial Park, Paul Jr. Designs Dog-Park, and the Wallkill River. The property is also within the Valley Central School District.
Key Highlights
- Two separate buildings support combined commercial and residential use
- Deli/pizzeria storefront with kitchen, office, half bathroom, and parking area
- Separate 3‑bedroom, 1‑bathroom apartment with approximately 1,124 square feet
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
$60,381
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
6.04%
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%
$1,207,620
$1.2M
Cap Rate 7%
$862,586
$862.6K
Cap Rate 9%
$670,900
$670.9K
Market Conditions
NOI Build-Up for 3,228 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
$113.9K $35.28/SF
− Vacancy
−$4.1K −$1.27/SF
EGI
$109.8K $34.01/SF
− OpEx
−$49.4K −$15.30/SF
NOI
$60.4K $18.71/SF
Area
Orange County, NY
Vacancy
3.60%
Lease Rate
$35.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,207,620
Cap Rate 7%
$862,586
Cap Rate 9%
$670,900
Alternative Uses
Best Use
Apartment 5plus
$862.6K
$754.8K – $1.01M
NOI $60,381 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$561.3K
$491.1K – $654.8K
NOI $39,290 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.09M
$956.6K – $1.28M
NOI $76,530 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 12549, NY
10,349
Population
3,918
Households
2.6
Avg Household Size
42
Median Age
35%
College-Educated
93%
High-School Grad
38.7 sq mi
ZIP Area
267
Density / Sq Mi
$125,000
Median Household Income
$66,250
Median Earnings
$1,606
Median Rent
$377,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine a deli/pizzeria storefront with residential accommodations and on-site parking.
Where is this mixed-use property located?
The property is located at 97 UNION ST Montgomery, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Two separate buildings support combined commercial and residential use; Deli/pizzeria storefront with kitchen, office, half bathroom, and parking area; Separate 3‑bedroom, 1‑bathroom apartment with approximately 1,124 square feet
