Historic Mixed-Use
For Sale
$895,000
461 ALLEN ST, Hudson, NY 12534
Three-story Victorian property with leased commercial suites, historic detailing, central air, and dedicated on-site parking.
Property Size4,668 SF
Price / SF$191.73
Days on Market41
Property Features for 461 ALLEN ST
General Information
Standard status
Active
Size
4,668 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
ready for renovation
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,401
Amenities
Central Air
3
Parking.
On Street.
Mountain
In City.
Building Details
Year Built
1885
Buildings
1
Stories
3
Construction
Queen Anne Victorian
Tenancy
Multi
Abandoned
No
Listing Agency:
Houlihan Lawrence, Inc
(518) 821-0826
Listed By:
Anthony Dargenzio
(518) 821-0826
Source:
Xome
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 6:51AM
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 4,668-square-foot, three-story mixed-use property dating to 1885. Its Queen Anne Victorian design includes a corner turret, cross-gabled roof, projecting bays, stained oak entry doors, parquet flooring, original stairwork, period millwork, tall wood-framed windows, and an Eastlake mantel. Three street-level entrances support a flexible commercial configuration, and the building is fully leased to six commercial tenants. The property also offers four bathrooms, including two finished rooms and two on the third floor awaiting completion.
Located at 461 Allen St in Hudson’s historic district, the building sits near Court House Square and within walking distance of downtown dining and shopping, the Amtrak station, and the waterfront. Six-car parking is provided on the lot. Building systems include electric radiators and central air, while recent improvements include a new roof, a building-wide fire alarm system, updated electrical service, and fresh paint. The unfinished third floor provides additional space for future renovation or reconfiguration.
Located at 461 Allen St in Hudson’s historic district, the building sits near Court House Square and within walking distance of downtown dining and shopping, the Amtrak station, and the waterfront. Six-car parking is provided on the lot. Building systems include electric radiators and central air, while recent improvements include a new roof, a building-wide fire alarm system, updated electrical service, and fresh paint. The unfinished third floor provides additional space for future renovation or reconfiguration.
Key Highlights
- 4,668‑square‑foot mixed‑use building constructed in 1885
- Three‑story Queen Anne Victorian with corner turret and original architectural details
- Fully leased to six commercial tenants
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
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,417
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?
Mixed-use property - Three-story Victorian property with leased commercial suites, historic detailing, central air, and dedicated on-site parking.
Where is this mixed-use property located?
The property is located at 461 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: 4,668‑square‑foot mixed‑use building constructed in 1885; Three‑story Queen Anne Victorian with corner turret and original architectural details; Fully leased to six commercial tenants
