Mixed-Use Building with Private
For Sale
$650,000
2545 STATE ROUTE 40 Unit 2545, Greenwich, NY 12834
Commercial layout with office suites, larger work areas, restrooms, a kitchen, and on-site paved parking.
Property Size5,749 SF
Lot Size2.20 Acres
Price / SF$113.06
Days on Market502
Property Features for 2545 STATE ROUTE 40 Unit 2545
General Information
Standard status
Active
Size
5,749 SF
Lot size
2.20 Acres
Property subtype
Mixed Use
Additional Details
Road Access
Yes
Amenities
Central Air
3
Carpet
Rolled
Commercial
Parking.
60 Parking Spaces. Private, Paved Driveway, Off Street.
80x678
Exterior Lighting, Landscaped.
Building Details
Year Built
1980
Building Size
5,749 SF
Listing Agency:
Julie & Co Realty LLC
(518) 350-7653
Listed By:
Harold Reiser · License #30RE0983407
Source:
Xome
Added: Apr 17, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:09PM
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 Julie & Co Realty LLC
Investment Insights
Based on property information with market context.
This 5,749-square-foot mixed-use commercial building offers seven front office spaces plus six additional larger rooms, four restrooms, and a large kitchen. Central air, carpeted interior areas, and a paved private parking area support the existing configuration. Built in 1980, the property is available for sale or lease and has an established rental history.
Set on 2.2 acres with 80 feet of frontage along State Route 40, the property includes 60 parking spaces, a private paved driveway, off-street parking, exterior lighting, and landscaping. The surrounding commercial area includes car dealerships, government organizations, and grocery markets.
Set on 2.2 acres with 80 feet of frontage along State Route 40, the property includes 60 parking spaces, a private paved driveway, off-street parking, exterior lighting, and landscaping. The surrounding commercial area includes car dealerships, government organizations, and grocery markets.
Key Highlights
- 5,749 SF mixed‑use commercial building with 7 office spaces and 6 larger rooms
- 2.2‑acre property with 80 feet of frontage on State Route 40
- 60 parking spaces with private paved driveway and off‑street parking
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
$58,209
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
8.96%
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%
$1,164,180
$1.2M
Cap Rate 7%
$831,557
$831.6K
Cap Rate 9%
$646,767
$646.8K
Market Conditions
NOI Build-Up for 5,749 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
$103.5K $18.00/SF
− Vacancy
−$10.3K −$1.80/SF
EGI
$93.1K $16.20/SF
− OpEx
−$34.9K −$6.07/SF
NOI
$58.2K $10.13/SF
Area
Washington County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,164,180
Cap Rate 7%
$831,557
Cap Rate 9%
$646,767
Alternative Uses
Best Use
Office B
$1.06M
$927.3K – $1.24M
NOI $74,184 @ 7.0% cap · market cap 11.41%
Second Best
Mixed Use
$831.6K
$727.6K – $970.2K
NOI $58,209 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,839 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 12834, NY
6,396
Population
2,996
Households
2.1
Avg Household Size
47
Median Age
29%
College-Educated
95%
High-School Grad
84.6 sq mi
ZIP Area
76
Density / Sq Mi
$82,931
Median Household Income
$49,513
Median Earnings
$1,154
Median Rent
$234,900
Median Home Value
Market
Vacancy Rate% for Office 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 - Commercial layout with office suites, larger work areas, restrooms, a kitchen, and on-site paved parking.
Where is this mixed-use property located?
The property is located at 2545 STATE ROUTE 40 Unit 2545 Greenwich, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,749 SF mixed‑use commercial building with 7 office spaces and 6 larger rooms; 2.2‑acre property with 80 feet of frontage on State Route 40; 60 parking spaces with private paved driveway and off‑street parking
