Renovated Apartment
For Sale
Contact for pricing
514 State Street, Hudson, NY 12534
Individual residences feature full kitchens, tiled baths, balconies, and central air conditioning and heat.
Property Size6,192 SF
Price / SF$314.92
Days on Market219
Property Features for 514 State Street
General Information
Standard status
Active
Size
6,192 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
R2H
Net Operating Income
$148,523
Units
Unit Mix
6 x 3BR, 1 x 1BR
Multifamily Units
7
Amenities
dishwasher
tiled bath
outdoor balcony
central air conditioning
heat
original details
restored hardwood floors
keyless building entry
exterior security cameras
bike storage
high-efficiency laundry room
Building Details
Year Built
1900
Stories
3
Units
8
Listing Agency:
The Kinderhook Group, Inc.
(518) 751-4444
Listed By:
Victor Mendolia · License #10301213871
Source:
Crexi
Added: Jan 24
Changed: Aug 29
Last Checked: Aug 31 at 10:59AM
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 The Kinderhook Group, Inc.
Investment Insights
Based on property information with market context.
This 6,192-square-foot apartment building, constructed in 1900 and renovated, contains six three-bedroom apartments and one one-bedroom unit. The three-bedroom layouts include one larger bedroom plus two smaller bedrooms or office areas. A renovated rear barn is leased for art studio use, bringing the property to eight rentable units. Apartments include full kitchens with dishwashers, tiled bathrooms, outdoor balconies, central air conditioning and heat, restored hardwood floors, and original architectural details.
Building amenities include keyless entry, exterior security cameras, bicycle storage, a basement laundry room, and off-street parking for four vehicles. The basement-level one-bedroom apartment sits above grade at the rear. Tenants pay electric and gas, while ownership covers trash and snow removal along with water and sewer. The property is zoned R2H and located at 514 State Street in Hudson, New York.
Building amenities include keyless entry, exterior security cameras, bicycle storage, a basement laundry room, and off-street parking for four vehicles. The basement-level one-bedroom apartment sits above grade at the rear. Tenants pay electric and gas, while ownership covers trash and snow removal along with water and sewer. The property is zoned R2H and located at 514 State Street in Hudson, New York.
Key Highlights
- Six three‑bedroom apartments and one one‑bedroom unit
- Renovated rear barn used as art studio space brings total rentable units to eight
- 6,192 SF building constructed in 1900
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
$58,236
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
2.99%
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%
$1,164,720
$1.2M
Cap Rate 7%
$831,943
$831.9K
Cap Rate 9%
$647,067
$647.1K
Market Conditions
NOI Build-Up for 6,192 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
$111.5K $18.00/SF
− Vacancy
−$5.6K −$0.90/SF
EGI
$105.9K $17.10/SF
− OpEx
−$47.6K −$7.69/SF
NOI
$58.2K $9.41/SF
Area
Columbia County, NY
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,164,720
Cap Rate 7%
$831,943
Cap Rate 9%
$647,067
Alternative Uses
Best Use
Apartment 5plus
$831.9K
$728.0K – $970.6K
NOI $58,236 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,236 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,459
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 Multifamily 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?
Apartment building - Individual residences feature full kitchens, tiled baths, balconies, and central air conditioning and heat.
Where is this apartment building located?
The property is located at 514 State Street Hudson, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Six three‑bedroom apartments and one one‑bedroom unit; Renovated rear barn used as art studio space brings total rentable units to eight; 6,192 SF building constructed in 1900
