Live-Work Property with Office
New
For Sale
$495,000
5457 State Route 40, Argyle, NY 12809
Commercial Sale, Argyle, NY
Property Size2,198 SF
Lot Size0.99 Acres
Price / SF$225.20
Days on Market4
Property Features for 5457 State Route 40
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Parking
12
Patio and Porch features
Deck
Interior features
High Speed Internet, Wired for Sound
Basement
Walk-Out Access, Exterior Entry, Full, Interior Entry, Finished
Elementary school
Argyle K-8
High school
Argyle
Elementary school district
Argyle
Middle school district
Argyle
High school district
Argyle
Directions
From Route 40, property is located approximately 2 miles north of the Village of Argyle on the west side of State Route 40.
Standard status
Active
APN
532089 173.-2-7
Size
2,198 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Annual Amount
6726
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1997
Flooring type
Carpet, Hardwood
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Kellie Kieley Realty LLC
(518) 225-0454
Listed By:
Mark A Calicchia · License #10401348007
(518) 320-6377
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 29 at 3:06PM
MLS# 202624871
Copyright © 2026 Global MLS, Inc. 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 ranch-style residence with a finished walkout basement that has been used as professional office space. The basement includes a half bath and flexible finished areas, while the main level offers a large kitchen, hardwood flooring, two full baths, and a living room with surround sound. Ethernet wiring extends throughout the home, and the property includes a wraparound front deck.
A four-car tandem detached garage provides room for vehicles, equipment, storage, or workshop use and is served by three-phase power. Additional infrastructure includes a whole-house 20kW generator, two wall-mounted instant hot water systems, and a furnace with central air installed this year. Rebuilt in 1997 with ARXX insulated concrete form construction, the structure includes vinyl siding, an asphalt roof, well water, and septic service. The property occupies 0.99 acres at 5457 State Route 40 in Argyle, NY.
A four-car tandem detached garage provides room for vehicles, equipment, storage, or workshop use and is served by three-phase power. Additional infrastructure includes a whole-house 20kW generator, two wall-mounted instant hot water systems, and a furnace with central air installed this year. Rebuilt in 1997 with ARXX insulated concrete form construction, the structure includes vinyl siding, an asphalt roof, well water, and septic service. The property occupies 0.99 acres at 5457 State Route 40 in Argyle, NY.
Key Highlights
- Finished walkout basement used as professional office space, with a half bath
- Four‑car tandem detached garage with three‑phase power
- Whole‑house 20kW generator provides backup 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
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 - Ranch-style live-work setting with finished office space, technology infrastructure, and a detached garage for equipment or storage.
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, with a half bath; Four‑car tandem detached garage with three‑phase power; Whole‑house 20kW generator provides backup power
