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    4115 State Route 28 Boiceville, NY 12412
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    4115 State Route 28 Boiceville, NY 12412

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    • Retail properties & Spaces
    • 36,720 SF
    • 1.98 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 4115 State Route 28

    Lot size
    1.98 lot acres
    Property size
    36,720 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 4115 State Route 28 in Boiceville, NY, presents a lucrative investment opportunity. Boasting a total of 36,720 square feet on a 1.98-acre lot, this strip plaza enjoys a prime location at the gateway to the Catskills, benefiting from a daily traffic count of 7,000 vehicles. The plaza comprises a large commercial building (over 35,000 square feet, previously a lumber yard and salvage retail store, now adaptable for office, retail, or warehouse use) and four attached smaller stores/service shops. Currently occupied by a Post Office, restaurant, Woodstock Antiques, and a cafe/catering business, the tenant base is strong and provides consistent income. The large vacant commercial storefront with warehouse space is available for lease at $4,500 per month. The property benefits from updated systems including roof, heating, and cooling, municipal sewer access, and is situated next to a major grocery/shopping center and across from the local high school, ensuring year-round business from a diverse customer base including residents, tourists, and skiers. The asking price of $795,000 offers a Cap rate of approximately 6%. A non-compete agreement for a neighboring grocery business is in place for 10 years. One detached car parking space is available. Detailed financial information is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Boiceville
    County
    Ulster County
    State
    New York
    Longitude
    -74.2677
    Latitude
    42.0076

    Comparable in this City

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      NURSERY, GREENHOUSE, FLORIST • 2,280 SF
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    • Value Estimation by Request
      2,856 SF

      4046 Rte 28

      PARKING LOT • 2,856 SF
      4046 Rte 28, Boiceville, NY 12412
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    • Value Estimation by Request
      3,600 SF

      4084-4092 Rt 28

      PARKING LOT • 3,600 SF
      4084-4092 Rt 28, Boiceville, NY 12412
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    • Value Estimation
      $715,000
      36,720 SF

      4115-4125 Rt 28

      MINI-MALL • 36,720 SF
      4115-4125 Rt 28, Boiceville, NY 12412
      View Details
    • Value Estimation
      $770,000
      37,684 SF

      4099-4103 Rt 28

      GROCERY, SUPERMARKET • 37,684 SF
      4099-4103 Rt 28, Boiceville, NY 12412
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    • Value Estimation
      $535,000
      5,342 SF

      3984-3988 Rt 28

      RESTAURANT • 5,342 SF
      3984-3988 Rt 28, Boiceville, NY 12412
      View Details

    Similar Nearby for Sale

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      $575,000
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      Catskills Multi-Family Home with Garages

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    • New
      $79,000
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      Boiceville Land with Sewer Access

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    • New
      $749,900
      27.90 Acres

      27.9 Acres Development Opportunity

      27.9-acre mixed-use development opportunity in a growing Catskills location.
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    4115 State Route 28
    Boiceville, NY 12412
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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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