Historic Mixed-Use
For Sale
$895,000
323 Warren Street, Hudson, NY 12534
Circa 1850 three-story property with street-level retail and two flexible upper floors, plus a fenced yard and garage.
Property Size2,640 SF
Days on Market116
Property Features for 323 Warren Street
General Information
Standard status
Active
Size
2,640 SF
Total Parking Spaces
1
Property subtype
Commercial
Zoning
CC
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$7,720
Amenities
deck access
fenced yard
garage
gas heating
ductless air conditioning
Building Details
Building Size
2,640 SF
Year Built
1850
Stories
3
Listing Agency:
Houlihan Lawrence, Inc
(518) 821-0826
Listed By:
Anthony Dargenzio
(518) 821-0826
Source:
Cohenandcohenrealty
Added: Apr 28
Changed: Aug 8
Last Checked: Aug 20 at 3:01PM
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 Houlihan Lawrence, Inc
Investment Insights
Based on property information with market context.
Welcome to 323 Warren Street, a circa 1850 three-story building with original character and a striking facade crowned by a bracketed cornice. The ground floor is designed for street-facing retail, featuring a large picture window, stone floors, subway tile, and wainscotting, along with a back room suited for kitchen or prep use. A half bath with a utility sink supports operations, and a separate entrance helps keep commercial and residential traffic independent.
The second floor includes a generous front room overlooking Warren Street, a living and dining area, and a kitchen with deck access, plus an additional half bath with a utility sink. The third floor offers three bedrooms with closets, wide plank original wood floors, and a full bath with a clawfoot tub. Hand-painted details on the stair risers highlight the building’s craftsmanship.
Out back, a fenced yard provides outdoor space, and it connects to a garage equipped with a full commercial refrigeration unit. Single-car parking is included; alternatively, the refrigeration can be removed to allow for additional use of the garage for parking and storage. The building has updated gas heating and ductless air conditioning throughout. The property is on the Hudson Amtrak line within a five-minute walk, and trains to New York City are described as taking about two hours.
The second floor includes a generous front room overlooking Warren Street, a living and dining area, and a kitchen with deck access, plus an additional half bath with a utility sink. The third floor offers three bedrooms with closets, wide plank original wood floors, and a full bath with a clawfoot tub. Hand-painted details on the stair risers highlight the building’s craftsmanship.
Out back, a fenced yard provides outdoor space, and it connects to a garage equipped with a full commercial refrigeration unit. Single-car parking is included; alternatively, the refrigeration can be removed to allow for additional use of the garage for parking and storage. The building has updated gas heating and ductless air conditioning throughout. The property is on the Hudson Amtrak line within a five-minute walk, and trains to New York City are described as taking about two hours.
Key Highlights
- Circa 1850 three‑story building with street‑level retail plus two flexible upper floors for residential, commercial, or both
- Ground floor features a large picture window, stone floors, subway tile, and wainscotting, plus a back room and half bath with utility sink
- Separate entrance helps keep commercial and residential traffic independent
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
$33,359
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
3.73%
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%
$667,180
$667.2K
Cap Rate 7%
$476,557
$476.6K
Cap Rate 9%
$370,656
$370.7K
Market Conditions
NOI Build-Up for 2,640 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
$57.0K $21.60/SF
− Vacancy
−$12.5K −$4.75/SF
EGI
$44.5K $16.85/SF
− OpEx
−$11.1K −$4.21/SF
NOI
$33.4K $12.64/SF
Area
Columbia County, NY
Vacancy
22.00%
Lease Rate
$21.60 /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%
$667,180
Cap Rate 7%
$476,557
Cap Rate 9%
$370,656
Alternative Uses
Best Use
Office B
$476.6K
$417.0K – $556.0K
NOI $33,359 @ 7.0% cap · market cap 3.73%
Second Best
Retail
$397.0K
$347.3K – $463.1K
NOI $27,787 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$653.2K
$571.5K – $762.0K
NOI $45,721 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 12534, NY
17,539
Population
9,613
Households
1.8
Avg Household Size
46
Median Age
33%
College-Educated
88%
High-School Grad
88.6 sq mi
ZIP Area
198
Density / Sq Mi
$76,086
Median Household Income
$40,823
Median Earnings
$1,296
Median Rent
$260,800
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?
Live-work space - Circa 1850 three-story property with street-level retail and two flexible upper floors, plus a fenced yard and garage.
Where is this live-work space located?
The property is located at 323 Warren Street Hudson, 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: Circa 1850 three‑story building with street‑level retail plus two flexible upper floors for residential, commercial, or both; Ground floor features a large picture window, stone floors, subway tile, and wainscotting, plus a back room and half bath with utility sink; Separate entrance helps keep commercial and residential traffic independent
