Historic Three-Story Mixed-Use
New
For Sale
$3,500,000
7484 S Broadway, Red Hook, NY 12571
Village-center property combines commercial spaces, apartments, and on-site parking within a walkable setting.
Property Size12,020 SF
Lot Size0.67 Acres
Days on Market2
Property Features for 7484 S Broadway
General Information
Standard status
Active
Size
12,020 SF
Lot size
0.67 Acres
Property subtype
Commercial
Units
Multifamily Units
7
Office Units
7
Taxes and HOA fees
Annual Taxes
$22,508
Building Details
Building Size
12,020 SF
Year Built
1819
Buildings
1
Stories
3
Units
14
Tenancy
Multi
Listing Agency:
(845) 876-3196
Listed By:
Homer K. Staley Jr.
(845) 876-3196
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 12:10PM
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 Homer K. Staley Jr.
Investment Insights
Based on property information with market context.
Built in 1819, this three-story mixed-use property contains 14 units across commercial and residential uses. The current layout includes 7 office/retail spaces, three 2-bedroom apartments, two 1-bedroom apartments, and two additional apartments on the third floor. One of the upper-level residences includes generous living space and a private outdoor deck. The property occupies approximately 0.67 acres and includes on-site parking.
Located at 7484 S Broadway in Red Hook, NY, the property is positioned in the center of Red Hook Village, within Dutchess County’s Hudson Valley. Village shops, restaurants, businesses, and community amenities are accessible from the property. WalkScore is 49 and BikeScore is 60.
Located at 7484 S Broadway in Red Hook, NY, the property is positioned in the center of Red Hook Village, within Dutchess County’s Hudson Valley. Village shops, restaurants, businesses, and community amenities are accessible from the property. WalkScore is 49 and BikeScore is 60.
Key Highlights
- 14‑unit mixed‑use property with 7 office/retail spaces and 7 apartments
- Approximately 0.67 acres with on‑site parking
- Residential mix includes three 2‑bedroom apartments and two 1‑bedroom apartments
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
$206,501
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
5.90%
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%
$4,130,020
$4.1M
Cap Rate 7%
$2,950,014
$3.0M
Cap Rate 9%
$2,294,456
$2.3M
Market Conditions
NOI Build-Up for 12,020 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
$395.2K $32.88/SF
− Vacancy
−$19.8K −$1.64/SF
EGI
$375.5K $31.24/SF
− OpEx
−$169.0K −$14.06/SF
NOI
$206.5K $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%
$4,130,020
Cap Rate 7%
$2,950,014
Cap Rate 9%
$2,294,456
Alternative Uses
Best Use
Apartment 5plus
$2.95M
$2.58M – $3.44M
NOI $206,501 @ 7.0% cap · market cap 5.90%
Second Best
Office B
$2.75M
$2.40M – $3.21M
NOI $192,387 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,276 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Explore this area
Business Placement
Demographics for 12571, NY
9,600
Population
4,454
Households
2.2
Avg Household Size
47
Median Age
52%
College-Educated
95%
High-School Grad
58.1 sq mi
ZIP Area
165
Density / Sq Mi
$115,200
Median Household Income
$54,338
Median Earnings
$1,338
Median Rent
$386,300
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?
Mixed-use property - Village-center property combines commercial spaces, apartments, and on-site parking within a walkable setting.
Where is this mixed-use property located?
The property is located at 7484 S Broadway Red Hook, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 14‑unit mixed‑use property with 7 office/retail spaces and 7 apartments; Approximately 0.67 acres with on‑site parking; Residential mix includes three 2‑bedroom apartments and two 1‑bedroom apartments
