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    3189 State Rte 28 Shokan, NY 12481
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    Property profile & analytics

    3189 State Rte 28, Shokan, NY 12481

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    • Investment properties
    • 2,334 SF
    • 0.25 lot acres
    Off-Market
    Property ID
    US63-2623088
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 3189 State Rte 28

    Year built
    1925
    Lot size
    0.25 lot acres
    Zone code
    02 - SINGLE RESIDENCE
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    514000 46.5-4-32
    APU
    514000465432

    Description

    This exceptional commercial property, located at 3189 State Route 28 in Shokan, NY, presents a unique investment opportunity. Situated on a prominent corner lot at the intersection of Route 28 and Reservoir Rd, this 2,110 square foot retail building boasts a high-traffic location ideal for a variety of businesses. The property includes extensive parking, accommodating 15-20 vehicles, with spaces available on the front, rear, and side of the building. The main level is perfect for retail operations, while the second and third floors offer significant residential potential, providing a live-work opportunity. Separate electric meters for the first and second floors offer efficient utility management. Heating is provided by propane on the main level and electric on the upper floors, supplemented by central air conditioning on the main level. Abundant storage space is available throughout the building, further enhanced by a detached 12x28 storage structure. The 0.25-acre lot ensures ample space and accessibility. This property offers a compelling blend of commercial and residential uses, making it an attractive investment in a busy commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Shokan
    County
    Ulster
    State
    New York
    Longitude
    -74.2122
    Latitude
    41.9731
    CBSA code
    28740
    CBSA name
    KINGSTON, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $37,800
    $198,800
    $236,600
    -
    $41,561
    $218,582
    $260,143

    Comparable in this City

    • Value Estimation by Request
      3,280 SF

      3048 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE)
      3048 Rte 28, Shokan, NY 12481
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    • Value Estimation by Request
      3,468 SF

      3026-3030 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE)
      3026-3030 Rte 28, Shokan, NY 12481
      View Details
    • Value Estimation
      $880,000
      3,434 SF

      2866-2872 Rt 28

      STORE/OFFICE (MIXED USE)
      2866-2872 Rt 28, Shokan, NY 12481
      View Details
    • Value Estimation by Request
      450 SF

      3038 Rte 28

      STORE/OFFICE (MIXED USE)
      3038 Rte 28, Shokan, NY 12481
      View Details
    • Value Estimation
      $4,240,000
      8,000 SF

      3110 State Rte 28

      STORE/OFFICE (MIXED USE)
      3110 State Rte 28, Shokan, NY 12481-5006
      View Details
    • Value Estimation by Request
      3,340 SF

      2802-2806 Rte 28

      STORE/OFFICE (MIXED USE)
      2802-2806 Rte 28, Shokan, NY 12481
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,000 SF

      3110 State Route 28, Shokan, NY 12481

      Mixed-use properties
      3110 State Route 28, Shokan, NY 12481
      View Details
    • $179,900
      2.60 Acres

      Land Parcel in Desirable Shokan

      2.6 acre parcel near parks, trails, and amenities.
      Bostock Rd, Shokan, NY 12481
      View Details
    • 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
      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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