Restaurant Building with
New
For Sale
$699,900
357 HOOKER AVE, Poughkeepsie, NY 12603
Commercial building with private parking, a walk-in cooler, office space, and central air.
Property Size2,424 SF
Price / SF$288.74
Days on Market6
Property Features for 357 HOOKER AVE
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
47
Property subtype
Retail
Additional Details
Patio
Yes
Taxes and HOA fees
Annual Taxes
$18,746
Amenities
Central Air
3
Parking.
Lot.
Building Details
Year Built
1970
Listing Agency:
McNiff Real Estate LTD
(845) 473-4240
Listed By:
Brian Burke
(845) 702-6480
Source:
Xome
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 4 at 3:04PM
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 McNiff Real Estate LTD
Investment Insights
Based on property information with market context.
This commercial restaurant property includes a building with a walk-in cooler, office area, patio, front garage door, gas heating, and central air. The roof is new, and the property has operated as a restaurant, including a Friendly's Family Restaurant, for decades. Multiple commercial uses are allowed.
A private 47-car parking lot serves the site and has been recently paved and striped. The property is located at 357 Hooker Ave in Poughkeepsie, across from Vassar College athletic fields and student housing. Built in 1970, the property combines established restaurant improvements with parking and several existing functional components.
A private 47-car parking lot serves the site and has been recently paved and striped. The property is located at 357 Hooker Ave in Poughkeepsie, across from Vassar College athletic fields and student housing. Built in 1970, the property combines established restaurant improvements with parking and several existing functional components.
Key Highlights
- Private 47‑car parking lot recently paved and striped
- Across from Vassar College athletic fields and student housing
- New roof, gas heating, and central air
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
$43,889
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
6.27%
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%
$877,780
$877.8K
Cap Rate 7%
$626,986
$627.0K
Cap Rate 9%
$487,656
$487.7K
Market Conditions
NOI Build-Up for 2,424 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
$61.1K $25.20/SF
− Vacancy
−$2.6K −$1.06/SF
EGI
$58.5K $24.14/SF
− OpEx
−$14.6K −$6.04/SF
NOI
$43.9K $18.11/SF
Area
Dutchess County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$877,780
Cap Rate 7%
$626,986
Cap Rate 9%
$487,656
Alternative Uses
Best Use
Specialty Retail
$627.0K
$548.6K – $731.5K
NOI $43,889 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$729.7K
$638.5K – $851.3K
NOI $51,077 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
11,149 visits/mo
0.5 miles
Dollar General
Shops & Services
9,221 visits/mo
0.5 miles
Gulf Oil
Shops & Services
3,275 visits/mo
0.1 miles
Demographics for 12603, NY
41,470
Population
17,468
Households
2.4
Avg Household Size
43
Median Age
47%
College-Educated
94%
High-School Grad
31.9 sq mi
ZIP Area
1,300
Density / Sq Mi
$104,185
Median Household Income
$54,254
Median Earnings
$1,626
Median Rent
$342,000
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?
Conventional restaurant - Commercial building with private parking, a walk-in cooler, office space, and central air.
Where is this conventional restaurant located?
The property is located at 357 HOOKER AVE Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Private 47‑car parking lot recently paved and striped; Across from Vassar College athletic fields and student housing; New roof, gas heating, and central air
