Listing Agency: Rieber Realty Inc Show Phone

Listed By: Jill Halpern-Steingart · License #10401292306 Show Phone

Source: Xome

Added: Aug 23 Changed: Sep 1 Last Checked: Sep 2 at 1:49PM

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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 Rieber Realty Inc

Investment Insights

Based on property information with market context.

This mixed-use property combines a warehouse with office areas and an additional apartment. The offices and apartment have air conditioning, while propane-fired Modine heaters provide heating. The property also includes on-site parking with 30 spaces.

The building occupies a corner location at State Route 17B and Creamery Road in Mongaup Valley, within the Town of Bethel. It is near Exit 104 on NYS Route 17B, Bethel Woods, the casino, Holiday Mountain Ski Hill, Kauneonga Lake, and Swinging Bridge Lake. The address provides access to a regional setting serving commercial, office, warehouse, and other business uses.

Key Highlights

• Warehouse with adjoining office areas and an additional apartment
• 30 on‑site parking spaces
• Corner position at State Route 17B and Creamery Road

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

$54,026

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

7.20%

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%

$1,080,520 $1.1M

Cap Rate 7%

$771,800 $771.8K

Cap Rate 9%

$600,289 $600.3K

Market Conditions

NOI Build-Up for 3,848 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

$92.4K $24.00/SF

− Vacancy

−$20.3K −$5.28/SF

EGI

$72.0K $18.72/SF

− OpEx

−$18.0K −$4.68/SF

NOI

$54.0K $14.04/SF

Area

Sullivan County, NY

Vacancy

22.00%

Lease Rate

$24.00 /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%

$1,080,520

Cap Rate 7%

$771,800

Cap Rate 9%

$600,289

Alternative Uses

Best Use

Office B

$771.8K

$675.3K – $900.4K (±1% cap)

NOI $54,026 @ 7.0% cap · market cap 7.20%

Second Best

Flex RnD

$754.6K

$660.3K – $880.4K (±1% cap)

NOI $52,825 @ 7.0% cap · market cap 7.04%

Theoretical Best

Office A

$1.06M

$923.5K – $1.23M (±1% cap)

NOI $73,882 @ 7.0% cap · market cap 9.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick HVAC Service Storage Facility Computer & Electronic Repair Building Supply Auto Repair Shop Hair Salon

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

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

62

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 - Warehouse, offices, and an additional apartment provide a flexible combination of commercial and residential space.

Where is this mixed-use property located?

The property is located at 980 STATE ROUTE 17B Bethel, NY.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Warehouse with adjoining office areas and an additional apartment; 30 on‑site parking spaces; Corner position at State Route 17B and Creamery Road