Mixed-Use Plaza with
For Sale
$1,950,000
1229 Route 9g, Hyde Park, NY 12538
Five storefronts, upstairs apartments, and a separate farmhouse create a combined commercial and residential layout.
Property Size8,600 SF
Days on Market119
Property Features for 1229 Route 9g
General Information
Standard status
Active
Size
8,600 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$35,998
Building Details
Building Size
8,600 SF
Year Built
1980
Buildings
2
Stories
2
Units
9
Tenancy
Multi
Listing Agency:
K. Fortuna Realty, Inc.
(845) 518-9578
Listed By:
Julia A. Mullen · License #40MU1119358
(845) 518-9578
Source:
Maurafinnegan
Added: May 4
Changed: Aug 28
Last Checked: Aug 29 at 10:23AM
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 K. Fortuna Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1980, this mixed-use property combines a plaza with five storefronts and four one-bedroom, one-bath apartments on the upper level. A separate farmhouse adds two additional one-bedroom, one-bath units. The plaza is fully occupied, and the property is being offered in its existing condition, with inspections intended for buyer information only.
Located at 1229 Route 9g in Hyde Park, the property is commercially zoned. A new roof has been installed on the second floor of the plaza, adding a recent improvement to the existing building configuration.
Located at 1229 Route 9g in Hyde Park, the property is commercially zoned. A new roof has been installed on the second floor of the plaza, adding a recent improvement to the existing building configuration.
Key Highlights
- Five storefronts in the plaza
- Four upstairs apartments, each with 1 bedroom and 1 bath
- Separate farmhouse includes 2 units with 1 bedroom and 1 bath each
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
$147,746
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
7.58%
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%
$2,954,920
$3.0M
Cap Rate 7%
$2,110,657
$2.1M
Cap Rate 9%
$1,641,622
$1.6M
Market Conditions
NOI Build-Up for 8,600 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
$282.8K $32.88/SF
− Vacancy
−$14.1K −$1.64/SF
EGI
$268.6K $31.24/SF
− OpEx
−$120.9K −$14.06/SF
NOI
$147.7K $17.18/SF
Area
Dutchess County, NY
Vacancy
5.00%
Lease Rate
$32.88 /SF/Yr
Expense Ratio
45.00%
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%
$2,954,920
Cap Rate 7%
$2,110,657
Cap Rate 9%
$1,641,622
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.85M – $2.46M
NOI $147,746 @ 7.0% cap · market cap 7.58%
Second Best
Retail
$1.57M
$1.38M – $1.83M
NOI $110,037 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$2.59M
$2.27M – $3.02M
NOI $181,213 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
114
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five storefronts, upstairs apartments, and a separate farmhouse create a combined commercial and residential layout.
Where is this mixed-use property located?
The property is located at 1229 Route 9g 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: Five storefronts in the plaza; Four upstairs apartments, each with 1 bedroom and 1 bath; Separate farmhouse includes 2 units with 1 bedroom and 1 bath each
