Retail Building on Large
For Sale
Contact for pricing
1836 Columbia Turnpike, Castleton on Hudson, NY 12033
Retail building on 6.41 acres at Routes 9 and 20.
Property Size3,702 SF
Lot Size6.41 Acres
Price / SF$215.83
Days on Market151
Property Features for 1836 Columbia Turnpike
General Information
Standard status
Active
Size
3,702 SF
Lot size
6.41 Acres
Property subtype
Retail, Land
Zoning
CM - Commercial Mixed Use
Building Details
Year Built
1935
Buildings
1
Stories
2
Units
1
Listing Agency:
CBRE - Albany
(518) 452-2700
Listed By:
Craig Darby · License #NY 10401201614
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 8 at 3:16PM
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 CBRE - Albany
Investment Insights
Based on property information with market context.
The property offered for sale is a retail building with a size of approximately 3,702 square feet, situated on a large lot of approximately 6.41 acres. The property is located at the corner of Routes 9 and Route 20. Currently, the building is operating as an Army/Navy store.
Key Highlights
- Large ±6.41 acre land parcel
- High‑visibility corner location at Routes 9 and 20
- Substantial ±3,702 SF retail building
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
$47,069
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
5.89%
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%
$941,380
$941.4K
Cap Rate 7%
$672,414
$672.4K
Cap Rate 9%
$522,989
$523.0K
Market Conditions
NOI Build-Up for 3,702 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
$70.2K $18.96/SF
− Vacancy
−$2.9K −$0.80/SF
EGI
$67.2K $18.16/SF
− OpEx
−$20.2K −$5.45/SF
NOI
$47.1K $12.71/SF
Area
Rensselaer County, NY
Vacancy
4.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$941,380
Cap Rate 7%
$672,414
Cap Rate 9%
$522,989
Alternative Uses
Best Use
Retail
$672.4K
$588.4K – $784.5K
NOI $47,069 @ 7.0% cap · market cap 5.89%
Second Best
Mixed Use
$523.6K
$458.1K – $610.8K
NOI $36,650 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$925.4K
$809.8K – $1.08M
NOI $64,781 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 43%
Dunkin' Donuts
Dining
11,760 visits/mo
0.2 miles
Speedway
Shops & Services
6,943 visits/mo
0.1 miles
KeyBank
Shops & Services
2,036 visits/mo
0.2 miles
Demographics for 12033, NY
8,076
Population
3,843
Households
2.1
Avg Household Size
46
Median Age
35%
College-Educated
93%
High-School Grad
28.5 sq mi
ZIP Area
283
Density / Sq Mi
$92,808
Median Household Income
$55,875
Median Earnings
$1,380
Median Rent
$267,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building on 6.41 acres at Routes 9 and 20.
Where is this retail space located?
The property is located at 1836 Columbia Turnpike Castleton on Hudson, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Large ±6.41 acre land parcel; High‑visibility corner location at Routes 9 and 20; Substantial ±3,702 SF retail building
