5147 State Route 213
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5147 State Route 213
3,352 SF 100% Leased Office Building Olivebridge, NY 12461 $485,000 ($145/SF) 7.22% Cap Rate
Investment Highlights
- 2.5 Hours North of NYC
- Investment Opportunity or Owner/User
Executive Summary
Great mixed-use property in the heart of Olivebridge, NY. This property has a lot to offer - owner-occupied or strictly use as an income property. The first floor contains 1850 sq. ft of commercial space leased to the US Postal Service, a loading dock, and plenty of parking, including Handicap Accessible. 2nd floor, you will find a beautifully renovated, 1466 sq. ft., 3-bedroom apartment with a 275 sq. ft. deck, use of the backyard, and over 500 sq. ft. of easily accessible storage space in the partially finished walk-up attic. Outside has a large two-car detached garage with large overhead doors and an expansive yard. Basement access is available from outside.
The apartment is left vacant with a rent projection of $2000-$2300 per month. The 2-car garage is currently rented out and the tenant pays for electricity.
Conveniently located 20 min, west of Kingston/NYS Thruway. 20 min. to Ski Resorts and Woodstock, and 5 minutes to Ashokan Reservoir.
The apartment is left vacant with a rent projection of $2000-$2300 per month. The 2-car garage is currently rented out and the tenant pays for electricity.
Conveniently located 20 min, west of Kingston/NYS Thruway. 20 min. to Ski Resorts and Woodstock, and 5 minutes to Ashokan Reservoir.
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$53,493
|
$15.96
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$18,475
|
$5.51
|
| Net Operating Income |
$35,018
|
$10.45
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $53,493 |
| Annual Per SF | $15.96 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $18,475 |
| Annual Per SF | $5.51 |
| Net Operating Income | |
|---|---|
| Annual | $35,018 |
| Annual Per SF | $10.45 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
3,352 SF
Building Class
C
Year Built/Renovated
1920/2023
Price
$485,000
Price Per SF
$145
Cap Rate
7.22%
NOI
$35,030
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,850 SF
Building FAR
0.10
Land Acres
0.79 AC
Zoning
01 - 01 - BV 1/2 - 480 - Multi-use bld
Parking
13 Spaces (2.48 Spaces per 1,000 SF Leased)
1 of 1
PROPERTY TAXES
| Parcel Number | 4000-054.001-0001-006.000-0000 | Improvements Assessment | $284,400 |
| Land Assessment | $40,600 | Total Assessment | $325,000 |
PROPERTY TAXES
Parcel Number
4000-054.001-0001-006.000-0000
Land Assessment
$40,600
Improvements Assessment
$284,400
Total Assessment
$325,000
-
Louis Naccarato -
Greg Berardi -
Berardi Realty
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5147 State Route 213
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