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Property profile & analytics
FOR LEASE
Office buildings
1561 Ulster Ave, Lake Katrine, NY 12449
Entity Owned
6-yr Hold
Free & Clear
Property ID
US63-5044747
For Lease
1 / 4
$13,960,000
1561 Ulster Ave, Lake Katrine, NY 12449
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2014
Total area
80,640 SF
Lot
6.1 ac (265,716 SF)
Zoning code
37
APN
515400 39.82-2-7.111
UPID
US63-5044747
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Optum Multi-Specialty - Kingston Medical Group
-
Mid-Hudson Care Center (AIDS and HIV Medicine) Medical Clinic
-
Albany Med Kingston Medical Group
-
Douglas Heller, MD Physician
-
Dr. Howard Hinestroza MD Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.93M
Blend (final)
Blend
$13.96M
Owner & transaction history
Ulster Hospitality LLC · 6 yrs held
Ulster Hospitality LLC
since 2019
3 recorded transactions
Zoning & alternative use
37 · Lake Katrine, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.8M
+43.5%
Auto repair, garage
$15.2M
+38.2%
Commercial (general)
$13.7M
+24.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Katrine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Katrine submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,975,000
Current use
RESTAURANT
$15,750,000
Change: +44% · Conversion: Moderate
AUTO REPAIR, GARAGE
$15,165,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$13,650,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$13.96M
Range $12.56M – $15.36M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$173 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$34,500,000
Assessed 2023
Previous assessed
$34,500,000
+0.0% YoY
Assessed land
$3,000,000
Assessed improvement
$31,500,000
Land market value
$6,000,000
Improvement market value
$63,000,000
Total market value
$69,000,000
Applied tax rate
510,800.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
2014
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
4
Total area
80,640 SF
Lot
6.1 ac (265,716 SF)
Zoning code
37
APN
515400 39.82-2-7.111
UPID
US63-5044747
Jurisdiction
ULSTER
Zoning & alternative use
37 · Lake Katrine, NY
Zoning 37 · permitted uses
37 · Lake Katrine, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Katrine. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$11.0M
RESTAURANT
Est. value
$15.8M
AUTO REPAIR, GARAGE
Est. value
$15.2M
COMMERCIAL (GENERAL)
Est. value
$13.7M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2014
Heating
NONE
Cooling
Yes
Stories
4
Buildings
1
Lot
6.1 ac
Current owner
From public records · entity-resolved
Ulster Hospitality LLC
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2019
$1,200,000
Ulster Hospitality LLC
1561 Ulster Properties LLC
Grant Deed
—
Feb 27, 2017
$41,791,000
Doc-1561 Ulster Avenue Mob LLC
Mhmg Km Kingston LLC
Grant Deed
—
—
—
Mhmg-km Kingston LLC
—
Loan Modification, Consolidation And Extension
related
$26,474,900 · Cantor Com'l R/e Lndg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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