Historic Mixed-Use Office
For Sale
$895,000
437 E Allen St, Hudson, NY 12534
Three-story historic building with flexible office suites, multiple entrances, and six on-site parking spaces.
Property Size4,668 SF
Days on Market15
Property Features for 437 E Allen St
General Information
Standard status
Active
Size
4,668 SF
Total Parking Spaces
6
Property subtype
Commercial
Occupancy
100%
Building Details
Building Size
4,668 SF
Year Built
1885
Stories
3
Construction
Queen Anne Victorian
Tenancy
Multi
Listing Agency:
HOULIHAN LAWRENCE INC.
(518) 821-0826
Listed By:
Anthony Dargenzio
(518) 821-0826
Source:
Elliman
Added: Jul 24
Changed: Jul 25
Last Checked: Aug 7 at 4:06AM
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.
The Chancery Building is a three-story 1885 Queen Anne Victorian property with a cross-gabled roofline, projecting bays, and a corner turret. The building has been operated as mixed-use and is fully leased with six commercial tenants. Its interior retains original architectural details including egg-and-dart cornices, carved rosette blocks, Corinthian-capped fluted pilasters, and exposed diamond parquet flooring. Office suites feature crown molding, chair rails, and tall double-hung windows with wood surrounds, and some suites open to projecting bay windows.
The property provides three separate street-level entrances and parking for six cars on-site, with mature evergreen plantings lining the front walk. The building is heated by electric radiators and cooled by central air. Recent capital improvements include a new roof, a building-wide fire alarm system, updated electrical, and fresh paint.
There are four bathrooms total, with two finished and two awaiting completion on the third floor. The third floor is ready for renovation, offering an opportunity for a new owner to complete the space to their specifications.
The property provides three separate street-level entrances and parking for six cars on-site, with mature evergreen plantings lining the front walk. The building is heated by electric radiators and cooled by central air. Recent capital improvements include a new roof, a building-wide fire alarm system, updated electrical, and fresh paint.
There are four bathrooms total, with two finished and two awaiting completion on the third floor. The third floor is ready for renovation, offering an opportunity for a new owner to complete the space to their specifications.
Key Highlights
- 3‑story Queen Anne Victorian built in 1885 with cross‑gabled roofline, projecting bays, and a corner turret with conical roof and finial
- Fully leased mixed‑use building with six commercial tenants generating steady income
- Three separate street‑level entrances with flexible layout plus parking for 6 cars on‑site
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
$58,985
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
6.59%
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%
$1,179,700
$1.2M
Cap Rate 7%
$842,643
$842.6K
Cap Rate 9%
$655,389
$655.4K
Market Conditions
NOI Build-Up for 4,668 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
$100.8K $21.60/SF
− Vacancy
−$22.2K −$4.75/SF
EGI
$78.6K $16.85/SF
− OpEx
−$19.7K −$4.21/SF
NOI
$59.0K $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%
$1,179,700
Cap Rate 7%
$842,643
Cap Rate 9%
$655,389
Alternative Uses
Best Use
Office B
$842.6K
$737.3K – $983.1K
NOI $58,985 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,842 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,458
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Three-story historic building with flexible office suites, multiple entrances, and six on-site parking spaces.
Where is this live-work space located?
The property is located at 437 E Allen St 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: 3‑story Queen Anne Victorian built in 1885 with cross‑gabled roofline, projecting bays, and a corner turret with conical roof and finial; Fully leased mixed‑use building with six commercial tenants generating steady income; Three separate street‑level entrances with flexible layout plus parking for 6 cars on‑site
