Updated Two-Suite Office
New
For Sale
$699,000
2421 Route 52, Hopewell Junction, NY 12533
Two office suites provide meeting areas, private offices, support space, and a dedicated entrance for the lower-level suite.
Property Size2,852 SF
Days on Market5
Property Features for 2421 Route 52
General Information
Standard status
Active
Size
2,852 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$11,172
Building Details
Building Size
2,852 SF
Buildings
1
Listing Agency:
BHHS Hudson Valley Properties
(845) 702-7060
Listed By:
Daniel Axtmann · License #40AX1070499
(845) 702-7060
Source:
Elliman
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 2:55PM
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 BHHS Hudson Valley Properties
Investment Insights
Based on property information with market context.
This office building contains two suites with distinct layouts and extensive updates. The main level includes a conference room, kitchenette, multiple offices, and a restroom. A lower-level suite has its own entrance, waiting area, large office or conference room, secondary office or storage room, and two restrooms. Recent improvements include a new roof, heat pump, and water heater, while abundant parking supports the property’s office configuration.
Located at 2421 Route 52 in Hopewell Junction, the property offers access to Route 9 and the Taconic State Parkway. The site also provides visibility from Route 52 and records a Walk Score of 16 and Bike Score of 11, reflecting a primarily vehicle-oriented setting.
Located at 2421 Route 52 in Hopewell Junction, the property offers access to Route 9 and the Taconic State Parkway. The site also provides visibility from Route 52 and records a Walk Score of 16 and Bike Score of 11, reflecting a primarily vehicle-oriented setting.
Key Highlights
- Two‑suite office building with separate lower‑level entrance
- Main level includes conference room, kitchenette, multiple offices, and restroom
- Lower‑level suite has waiting area, large office/conference room, secondary office/storage, and two restrooms
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
$45,648
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
6.53%
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%
$912,960
$913.0K
Cap Rate 7%
$652,114
$652.1K
Cap Rate 9%
$507,200
$507.2K
Market Conditions
NOI Build-Up for 2,852 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
$78.0K $27.36/SF
− Vacancy
−$17.2K −$6.02/SF
EGI
$60.9K $21.34/SF
− OpEx
−$15.2K −$5.34/SF
NOI
$45.6K $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%
$912,960
Cap Rate 7%
$652,114
Cap Rate 9%
$507,200
Alternative Uses
Best Use
Office B
$652.1K
$570.6K – $760.8K
NOI $45,648 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$858.5K
$751.2K – $1.00M
NOI $60,095 @ 7.0% cap · market cap 8.60%
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
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 12533, NY
26,147
Population
9,419
Households
2.8
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
48.9 sq mi
ZIP Area
535
Density / Sq Mi
$134,950
Median Household Income
$62,376
Median Earnings
$1,643
Median Rent
$440,800
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 building - Two office suites provide meeting areas, private offices, support space, and a dedicated entrance for the lower-level suite.
Where is this office building located?
The property is located at 2421 Route 52 Hopewell Junction, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑suite office building with separate lower‑level entrance; Main level includes conference room, kitchenette, multiple offices, and restroom; Lower‑level suite has waiting area, large office/conference room, secondary office/storage, and two restrooms
