Live-Work Property with Office
New
For Sale
$495,000
5457 STATE ROUTE 40, Argyle, NY 12809
Finished lower level supports professional office use and includes a half bath.
Property Size2,198 SF
Price / SF$225.20
Days on Market7
Property Features for 5457 STATE ROUTE 40
General Information
Standard status
Active
Size
2,198 SF
Total Parking Spaces
4
Property subtype
Mixed Use
Additional Details
Floor
Walkout Basement
Office Units
1
Taxes and HOA fees
Annual Taxes
$6,726
Amenities
Ethernet wiring
generator
instant hot water
new HVAC
Central Air
3
Hardwood, Carpet
Asphalt
12 Parking Spaces. Paved Driveway.
Per Tax Map
Building Details
Year Built
1997
Year Renovated
2013
Buildings
2
Construction
insulated concrete form
Tenancy
Single
Listing Agency:
Kellie Kieley Realty LLC
(518) 320-6377
Listed By:
Mark Calicchia · License #10401348007
(518) 320-6377
Source:
Xome
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 28 at 6:47AM
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 Kellie Kieley Realty LLC
Investment Insights
Based on property information with market context.
This live-work property combines a residential layout with dedicated finished space for professional use. The home includes 4 bedrooms, 2.5 baths, a large kitchen, hardwood flooring, and a living room with surround sound speakers. A wraparound front deck extends the usable outdoor area, while the walkout basement adds finished space, a half bath, and flexibility for office, recreation, or additional living purposes.
The property is located at 5457 State Route 40 in Argyle, NY, within the Argyle School District. Technology infrastructure includes Ethernet wiring in every room and integrated electronics. A detached four-car tandem garage provides room for vehicles, equipment, storage, or workshop activities and is equipped with three-phase power. The home also has a whole-house 20kW generator, two wall-mounted instant hot water systems, and ARXX insulated concrete form construction dating to the 1997 rebuild.
The property is located at 5457 State Route 40 in Argyle, NY, within the Argyle School District. Technology infrastructure includes Ethernet wiring in every room and integrated electronics. A detached four-car tandem garage provides room for vehicles, equipment, storage, or workshop activities and is equipped with three-phase power. The home also has a whole-house 20kW generator, two wall-mounted instant hot water systems, and ARXX insulated concrete form construction dating to the 1997 rebuild.
Key Highlights
- Finished walkout basement used as professional office space
- 4 bedrooms and 2.5 baths
- Detached four‑car tandem garage with three‑phase power
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
$28,362
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
5.73%
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%
$567,240
$567.2K
Cap Rate 7%
$405,171
$405.2K
Cap Rate 9%
$315,133
$315.1K
Market Conditions
NOI Build-Up for 2,198 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
$48.8K $22.20/SF
− Vacancy
−$11.0K −$5.00/SF
EGI
$37.8K $17.21/SF
− OpEx
−$9.5K −$4.30/SF
NOI
$28.4K $12.90/SF
Area
Washington County, NY
Vacancy
22.50%
Lease Rate
$22.20 /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%
$567,240
Cap Rate 7%
$405,171
Cap Rate 9%
$315,133
Alternative Uses
Best Use
Office B
$405.2K
$354.5K – $472.7K
NOI $28,362 @ 7.0% cap · market cap 5.73%
Second Best
Mixed Use
$317.9K
$278.2K – $370.9K
NOI $22,255 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$545.3K
$477.1K – $636.2K
NOI $38,171 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 12809, NY
3,426
Population
1,815
Households
1.9
Avg Household Size
48
Median Age
21%
College-Educated
92%
High-School Grad
52.2 sq mi
ZIP Area
66
Density / Sq Mi
$74,631
Median Household Income
$43,697
Median Earnings
$1,100
Median Rent
$222,700
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 - Finished lower level supports professional office use and includes a half bath.
Where is this live-work space located?
The property is located at 5457 STATE ROUTE 40 Argyle, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Finished walkout basement used as professional office space; 4 bedrooms and 2.5 baths; Detached four‑car tandem garage with three‑phase power
