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    The Largest CRE Database in the US with Over 1 Million Listings

    115 Melanie Way Hyde Park, NY 12538

    Sponsored
    For Sale
    $779,500

    Multi Family - Hyde Park, NY

    Type:Single Family Attached
    Property size:
    7,187 SF
    Lot size:
    42.40 Acres
    Days on Market:
    113
    Last Refresh:
    Feb 20 at 12:06 am

    Property Features for 115 Melanie Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Attached
    Standard status
    Active
    Vegetation
    Wooded
    Rooms
    Basement
    APN
    133200-6264-02-590558-0000
    Parking
    20
    Exterior features
    Part Wooded, Rolling Slope, Secluded
    Basement Y/N
    1
    Size
    7,187 SF
    Lot size
    42.40 Acres

    Utilities

    Heating system
    Electric (Heating), Oil, Wood (Heating)
    Cooling system
    Varies by Unit

    Building Details

    Year built
    1970
    Number of units
    9
    Building materials
    Frame
    Architectural style
    Other

    We can help!

    Listing Contact
    Joseph Kuhl
    Joseph Kuhl

    River Realty Services (845) 486-1100

    Listing agent Joseph Kuhl (845) 564-2800 License #10301220943

    Listing date Oct 31, 2025

    MLS# 815030 Listing URL

    Copyright © 2025 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Sprawling Multifamily Complex on Acres

    This sprawling multifamily complex is situated on over 42 rolling acres, offering privacy and a convenient location with partial mountain and nature views, as well as two ponds. The property presents various possibilities, including updating the multifamily units for income and subdividing the remaining acreage, creating a family compound or estate. Some repairs are needed, and the property is sold as-is. The land is mostly forested with some old-growth trees, and open areas have potential for agricultural use. The complex consists of three main buildings and a large workshop garage. It was formerly a family care facility. The property abuts the Greenfields Park development with primary access and has secondary access to South Quaker Lane. See apartment roster for breakdown and more information on units. The property contains 7187 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Parts Store Kitchen & Bath Showroom Food Market Accounting Firm HVAC Service Electrical Service Daycare Center Travel Agency

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hyde Park
    County
    Dutchess
    State
    New York
    Longitude
    -73.871206
    Latitude
    41.771311

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    FAQs

    What type of property is this?
    Apartment building - Multifamily complex on 42 acres with development potential.
    Where is this apartment building located?
    The property is located at 115 Melanie Way Hyde Park, NY.
    What is the asking price?
    The asking price for this property is $779,500.
    What are key features of this property?
    This property features: - 42+ Acre Multi-Family Complex with Development Potential; - Subdivision or Estate Conversion Possibilities; - Income Potential from Existing Multi-Family Units
    (914) 776-4576
    Request Owner's contact information
    115 Melanie Way Hyde Park, NY 12538
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    Hyde Park, NY 12538
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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
    115 Melanie Way Hyde Park, NY 12538
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    We can help!
    Listing Contact
    Joseph Kuhl
    Joseph Kuhl
    Real Estate License ID: 10301220943
    (914) 776-4576 (845) 564-2800 (914) 762-2500
    Learn more
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