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    3040 Rte Shokan, NY 12481

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    3040 Rte Shokan, NY 12481

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    • Retail properties & Spaces
    • 3,546 SF
    • 0.92 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 3040 Rte

    Year built
    1915
    Lot size
    0.92 lot acres
    Property size
    3,546 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This 3,546 square foot commercial ranch property, located at 3040 Route 28 in Shokan, New York, 12481, presents a unique investment opportunity. Built in 1915, this charming property boasts original hardwood floors, pocket doors, vaulted ceilings, large windows, and original moldings and trims. Situated on a 0.92-acre lot (approximately 204 x 194 feet), it offers ample space and versatility. The property includes a detached two-car garage. Its dual commercial and residential zoning allows for a wide range of uses, including a bed and breakfast, Airbnb, antique shop, home-based business, mediation retreat, spa, gallery, or yoga studio. The existing two-bedroom ranch home provides immediate income potential through rental or can serve as living quarters while renovations are undertaken. The property is conveniently located across from the rail trail, offering scenic views and easy access to outdoor recreation. Priced at $400,000 ($112.80 per square foot), this property represents a significant value in the desirable Shokan market. This is a rare opportunity to acquire a versatile property with substantial upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Shokan
    County
    Ulster
    State
    New York
    Longitude
    -74.1985
    Latitude
    41.9754

    Comparable in this City

    • Value Estimation by Request
      1,904 SF

      3209 Rte 28

      SHOW ROOM, WAREHOUSE • 1,904 SF
      3209 Rte 28, Shokan, NY 12481
      View Details
    • Value Estimation
      $570,000
      5,844 SF

      3187 State Rte 28

      SHOW ROOM, WAREHOUSE • 5,844 SF
      3187 State Rte 28, Shokan, NY 12481
      View Details
    • Value Estimation by Request
      2,120 SF

      3179 State Rte 28

      SHOW ROOM, WAREHOUSE • 2,120 SF
      3179 State Rte 28, Shokan, NY 12481-5008
      View Details
    • Value Estimation by Request
      1,110 SF

      2902 Rte 28

      AUTO REPAIR, GARAGE • 1,110 SF
      2902 Rte 28, Shokan, NY 12481
      View Details
    • Value Estimation by Request
      7,234 SF

      3098 Rte 28

      AUTO REPAIR, GARAGE • 7,234 SF
      3098 Rte 28, Shokan, NY 12481
      View Details
    • Value Estimation by Request
      3,137 SF

      3115 State Rte 28

      RESTAURANT • 3,137 SF
      3115 State Rte 28, Shokan, NY 12481
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,580 SF

      Fuel Storage Distribution Facility

      Fully permitted fuel storage and distribution facility with versatile infrastructure.
      3135 Rte 28, Shokan, NY 12481
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    • $179,900
      2.60 Acres

      Land Parcel in Desirable Shokan

      2.6 acre parcel near parks, trails, and amenities.
      Bostock Rd, Shokan, NY 12481
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    • Contact for pricing
      18,000 SF

      3110 State Route 28, Shokan, NY 12481

      Mixed-use properties • 18,000 SF
      3110 State Route 28, Shokan, NY 12481
      View Details
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    Shokan, NY 12481
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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