Live-Work Building with
For Sale
$475,000
4 Central Avenue, Ravena, NY 12143
Commercial Sale, Ravena, NY
Property Size4,350 SF
Lot Size0.26 Acres
Price / SF$108.92
Days on Market48
Property Features for 4 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Rav-Coey-Selkirk
Middle school district
Rav-Coey-Selkirk
High school district
Rav-Coey-Selkirk
Directions
Take Main Street to Central Avenue, first building on right. Has a large parking lot in front.
Subdivision
Coeymans
Standard status
Active
APN
01240116804000010120000000
Size
4,361 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
4779
Amenities
expansive storefront windows
professionally installed lighting grid
Building Details
Year built
1950
Listing Agency:
Halter Associates Realty
(845) 679-2010
Listed By:
James Billingsley
(917) 450-5354
Added: Jul 7
Changed: Aug 22
Last Checked: Aug 23 at 8:06AM
MLS# 20263789
Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work property combines a 2,100-square-foot residential wing with a 2,250-square-foot studio. The studio features storefront windows, 12-foot ceilings, and a professionally installed lighting grid. The building is not move-in-ready, although substantial infrastructure work has been completed. A side yard of approximately 2,000 square feet provides additional outdoor space. The parcel contains 0.26 acres and the building dates to 1950.
Architectural plans for a live-work arrangement were previously approved by the Town of Ravena; revised plans would need to be submitted for the intended use. The property is zoned R2 and sits just off Route 9W, with immediate access to the New York State Thruway via I-87. Nearby context includes a Hudson River waterfront park and public boat launch.
Architectural plans for a live-work arrangement were previously approved by the Town of Ravena; revised plans would need to be submitted for the intended use. The property is zoned R2 and sits just off Route 9W, with immediate access to the New York State Thruway via I-87. Nearby context includes a Hudson River waterfront park and public boat launch.
Key Highlights
- 2,100‑square‑foot residential wing paired with a 2,250‑square‑foot studio
- Studio includes storefront windows, 12‑foot ceilings, and a professionally installed lighting grid
- Approximately 2,000‑square‑foot side yard
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
$43,174
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
9.09%
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%
$863,480
$863.5K
Cap Rate 7%
$616,771
$616.8K
Cap Rate 9%
$479,711
$479.7K
Market Conditions
NOI Build-Up for 4,361 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
$78.5K $18.00/SF
− Vacancy
−$9.4K −$2.16/SF
EGI
$69.1K $15.84/SF
− OpEx
−$25.9K −$5.94/SF
NOI
$43.2K $9.90/SF
Area
Albany County, NY
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$863,480
Cap Rate 7%
$616,771
Cap Rate 9%
$479,711
Alternative Uses
Best Use
Office B
$962.2K
$841.9K – $1.12M
NOI $67,351 @ 7.0% cap · market cap 14.18%
Second Best
Mixed Use
$616.8K
$539.7K – $719.6K
NOI $43,174 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,258 @ 7.0% cap · market cap 20.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 12143, NY
4,903
Population
2,523
Households
1.9
Avg Household Size
42
Median Age
27%
College-Educated
90%
High-School Grad
19.1 sq mi
ZIP Area
257
Density / Sq Mi
$89,450
Median Household Income
$41,458
Median Earnings
$1,022
Median Rent
$222,400
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?
Live-work space - R2-zoned property combines residential quarters, a large creative studio, and an approximately 2,000-square-foot side yard.
Where is this live-work space located?
The property is located at 4 Central Avenue Ravena, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,100‑square‑foot residential wing paired with a 2,250‑square‑foot studio; Studio includes storefront windows, 12‑foot ceilings, and a professionally installed lighting grid; Approximately 2,000‑square‑foot side yard
