11 Railroad Plaza, Millerton, NY 12546

Building Details

Building Size 4,368 SF More

Buildings 1 More

Listing Agency: Houlihan Lawrence Inc. d***@houlihanlawrence.com Show Phone

Listed By: Shaylene Neumann Kelley Show Phone

Source: Jwsrealtygroup

Added: Aug 29 Changed: Nov 12 Last Checked: Nov 12 at 1:43AM

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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 Houlihan Lawrence Inc.

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This commercial building dates to the 1850s and was first constructed for the New York Central Railroad. It was moved to its present site in the 1960s. The current owner updated the electrical service, heating, and air-conditioning systems while retaining the building’s historic character. Its zoning designation is GB.

The property is at 11 Railroad Plaza in the Village of Millerton business district and includes a large private parking lot. Past occupants have included a flower shop and hair salons.

Key Highlights

• Commercial building originally constructed in the 1850s for the New York Central Railroad
• Moved to its current site in the 1960s
• Private parking lot with approximately 75+ spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,889

Cap Rate

5.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,117,780 $1.1M

Cap Rate 7%

$798,414 $798.4K

Cap Rate 9%

$620,989 $621.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,368 SF

Gross rent

$83.3K $19.08/SF

− Vacancy

−$3.5K −$0.80/SF

EGI

$79.8K $18.28/SF

− OpEx

−$24.0K −$5.48/SF

NOI

$55.9K $12.80/SF

Area

Dutchess County, NY

Vacancy

4.20%

Lease Rate

$19.08 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,117,780

Cap Rate 7%

$798,414

Cap Rate 9%

$620,989

Alternative Uses

Best Use

Retail

$798.4K

$698.6K – $931.5K (±1% cap)

NOI $55,889 @ 7.0% cap · market cap 5.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.31M

$1.15M – $1.53M (±1% cap)

NOI $92,039 @ 7.0% cap · market cap 9.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Electrical Service Building Supply Storage Facility Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12546, NY

3,026

Population

1,594

Households

1.9

Avg Household Size

46

Median Age

35%

College-Educated

90%

High-School Grad

45.4 sq mi

ZIP Area

67

Density / Sq Mi

$88,603

Median Household Income

$50,693

Median Earnings

$1,277

Median Rent

$317,200

Median Home Value

Market

Average Price Trend$/SF for Storefront properties in Dutchess County, NY

$242 Jul

$181 Aug

$242 Sep

$153 Oct

Properties on Market for Storefront properties in Dutchess County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Updated electrical service, heating, and air conditioning accompany the building’s historic character.

Where is this storefront property located?

The property is located at 11 Railroad Plaza Millerton, NY.

What is the asking price?

The asking price for this property is $935,000.

What are key features of this property?

This property features: Commercial building originally constructed in the 1850s for the New York Central Railroad; Moved to its current site in the 1960s; Private parking lot with approximately 75+ spaces