Professional Office
For Sale
$1,950,000
10 Boice Road, Hyde Park, NY 12538
Maintained office property with modern infrastructure and flexible professional-use configuration.
Property Size7,560 SF
Lot Size1.30 Acres
Price / SF$257.94
Days on Market42
Property Features for 10 Boice Road
General Information
Standard status
Active
Size
7,560 SF
Total Parking Spaces
50
Lot size
1.30 Acres
Taxes and HOA fees
Annual Taxes
$21,747
Amenities
Accessible Entrance, Accessible Approach with Ramp, Accessible Hallway(s), Adaptable Bathroom Walls, Visitor Bathroom
Central Air
Baseboard, Hot Water, Oil
Full, Partially Finished, Storage Space, Walk-Out Access
Dishwasher, Electric Range, Electric Water Heater, Exhaust Fan, Microwave, Oven, Refrigerator
Common, Off Street, Parking Lot, Private
Garden
Building Details
Building Size
7,560 SF
Year Built
1980
Buildings
1
Stories
1
Listing Agency:
Berkshire Hathaway HomeServices Hudson Valley Properties Lagrangeville
(845) 546-6077
Listed By:
Sean C. Eidle · License #10401263453
(845) 546-6077
Source:
Evrealestate
Added: Jul 14
Changed: Aug 23
Last Checked: Aug 24 at 3:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Hudson Valley Properties Lagrangeville
Investment Insights
Based on property information with market context.
This professional office building comprises approximately 7,560± SF on approximately 1.3 acres. The property is described as meticulously maintained and includes modern infrastructure, quality construction, and a flexible configuration suited to professional office operations.
The building is located at 10 Boice Rd in Hyde Park, New York, within the established Route 9 commercial corridor. Its setting places the property within one of the Town’s commercial districts and supports continued office use.
The building is located at 10 Boice Rd in Hyde Park, New York, within the established Route 9 commercial corridor. Its setting places the property within one of the Town’s commercial districts and supports continued office use.
Key Highlights
- Approximately 7,560± SF professional office building
- Approximately 1.3 acres
- Located in Hyde Park’s established Route 9 commercial corridor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$121,002
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,420,040
$2.4M
Cap Rate 7%
$1,728,600
$1.7M
Cap Rate 9%
$1,344,467
$1.3M
Market Conditions
NOI Build-Up for 7,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$206.8K $27.36/SF
− Vacancy
−$45.5K −$6.02/SF
EGI
$161.3K $21.34/SF
− OpEx
−$40.3K −$5.34/SF
NOI
$121.0K $16.01/SF
Area
Dutchess County, NY
Vacancy
22.00%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,420,040
Cap Rate 7%
$1,728,600
Cap Rate 9%
$1,344,467
Alternative Uses
Best Use
Office B
$1.73M
$1.51M – $2.02M
NOI $121,002 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$1.99M – $2.65M
NOI $159,299 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 12538, NY
14,181
Population
5,609
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
25.5 sq mi
ZIP Area
556
Density / Sq Mi
$86,641
Median Household Income
$44,926
Median Earnings
$1,190
Median Rent
$287,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Maintained office property with modern infrastructure and flexible professional-use configuration.
Where is this office building located?
The property is located at 10 Boice Road Hyde Park, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Approximately 7,560± SF professional office building; Approximately 1.3 acres; Located in Hyde Park’s established Route 9 commercial corridor
