Route 52 Commercial
For Sale
$425,000
2623 Route 52, Hopewell Junction, NY 12533
Three-level commercial building on Route 52 with ample parking.
Property Size830 SF
Lot Size0.49 Acres
Price / SF$195.13
Days on Market164
Property Features for 2623 Route 52
General Information
Standard status
Active
Size
830 SF
Lot size
0.49 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,827
Building Details
Building Size
830 SF
Year Built
1965
Listing Agency:
KELLER WILLIAMS REALTY PARTNER
(914) 450-1185
Listed By:
Dominick DiFilippo
(914) 450-1185
Source:
Elliman
Added: Mar 11
Changed: Aug 15
Last Checked: Aug 20 at 10:40AM
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 KELLER WILLIAMS REALTY PARTNER
Investment Insights
Based on property information with market context.
This three-level building offers 2,178 square feet of space and is situated on a half-acre property directly on Route 52, less than a quarter mile from the Taconic State Parkway. The property features high visibility and effortless access with ample on-site parking. The building is in excellent condition. A new water house filter and holding tank were installed last year, and the roof is five years old. The main level includes a reception area, a waiting room, and two offices, along with a powder room. The upper level is currently gutted, offering a customizable space suitable for additional office space or a live/work setup. The large basement with a pull-in garage provides storage or additional parking, and the private backyard offers further space for vehicles or outdoor storage. This property is suitable for launching, expanding, or relocating a business.
Key Highlights
- Prime location on Route 52, less than a quarter mile from the Taconic State Parkway, offering unbeatable visibility and high traffic.
- Building is in excellent condition with a relatively new roof (5 years old).
- Ample on‑site parking and a pull‑in garage in the basement provide excellent parking and storage options.
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
$34,860
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
8.20%
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%
$697,200
$697.2K
Cap Rate 7%
$498,000
$498.0K
Cap Rate 9%
$387,333
$387.3K
Market Conditions
NOI Build-Up for 2,178 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
$59.6K $27.36/SF
− Vacancy
−$13.1K −$6.02/SF
EGI
$46.5K $21.34/SF
− OpEx
−$11.6K −$5.34/SF
NOI
$34.9K $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%
$697,200
Cap Rate 7%
$498,000
Cap Rate 9%
$387,333
Alternative Uses
Best Use
Office B
$498.0K
$435.8K – $581.0K
NOI $34,860 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$655.6K
$573.7K – $764.9K
NOI $45,893 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
189
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 - Three-level commercial building on Route 52 with ample parking.
Where is this office building located?
The property is located at 2623 Route 52 Hopewell Junction, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime location on Route 52, less than a quarter mile from the Taconic State Parkway, offering unbeatable visibility and high traffic.; Building is in excellent condition with a relatively new roof (5 years old).; Ample on‑site parking and a pull‑in garage in the basement provide excellent parking and storage options.
