Two-Unit Office
For Sale
$895,000
135 RUDD POND RD, Millerton, NY 12546
Freestanding office building with private entrances, individual kitchenettes, and paved on-site parking.
Property Size2,560 SF
Price / SF$349.61
Days on Market15
Property Features for 135 RUDD POND RD
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
20
Property subtype
Retail
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$8,054
Amenities
kitchenette
drive-through
Central Air
3
20 Parking Spaces. Paved Driveway.
Level
200'x180', 0.82
Private Entry, Extra Storage, Freestanding. State Road, Level.
Building Details
Year Built
1957
Listing Agency:
(845) 224-8301
Listed By:
Elyse Harney Real Estate
(845) 224-8301
Source:
Xome
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 29 at 8:08PM
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 Elyse Harney Real Estate
Investment Insights
Based on property information with market context.
This freestanding office property contains approximately 2,560 square feet arranged as two separate units. The larger suite provides a flexible plan for two to three private offices, along with open space that can serve as reception, a waiting area, lobby, or retail area. The second unit includes a private main office and an additional workspace or sitting area. Both units have their own kitchenette, and central air serves the building. Private entrances, extra storage, a paved driveway, and a drive-through add practical functionality.
The property sits along Route 44 at the edge of the Village of Millerton, with visibility from traffic traveling between Millerton and Connecticut. It is near Salisbury, Sharon, and Lakeville, Connecticut, and approximately 10 minutes from the Wassaic Metro-North station. The site includes parking for up to 20 vehicles and was built in 1957.
The property sits along Route 44 at the edge of the Village of Millerton, with visibility from traffic traveling between Millerton and Connecticut. It is near Salisbury, Sharon, and Lakeville, Connecticut, and approximately 10 minutes from the Wassaic Metro-North station. The site includes parking for up to 20 vehicles and was built in 1957.
Key Highlights
- Approximately 2,560 square feet configured as two separate office units
- Larger unit supports two to three private offices plus reception or open‑area space
- Each unit includes a private kitchenette and entrance
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
$40,974
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
4.58%
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%
$819,480
$819.5K
Cap Rate 7%
$585,343
$585.3K
Cap Rate 9%
$455,267
$455.3K
Market Conditions
NOI Build-Up for 2,560 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
$70.0K $27.36/SF
− Vacancy
−$15.4K −$6.02/SF
EGI
$54.6K $21.34/SF
− OpEx
−$13.7K −$5.34/SF
NOI
$41.0K $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%
$819,480
Cap Rate 7%
$585,343
Cap Rate 9%
$455,267
Alternative Uses
Best Use
Office B
$585.3K
$512.2K – $682.9K
NOI $40,974 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$467.9K
$409.4K – $545.9K
NOI $32,755 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$770.6K
$674.3K – $899.0K
NOI $53,942 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Freestanding office building with private entrances, individual kitchenettes, and paved on-site parking.
Where is this office units located?
The property is located at 135 RUDD POND RD Millerton, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Approximately 2,560 square feet configured as two separate office units; Larger unit supports two to three private offices plus reception or open‑area space; Each unit includes a private kitchenette and entrance
