Retail/Office Plaza with Warehouse
For Sale
$970,000
600 Violet Avenue, Hyde Park, NY 12538
11,255 SF plaza on State Route 9G with 95 feet frontage, leased units, and an overhead-door warehouse space.
Property Size14,910 SF
Lot Size1.40 Acres
Price / SF$86.18
Days on Market102
Property Features for 600 Violet Avenue
General Information
Standard status
Active
Size
14,910 SF
Total Parking Spaces
36
Lot size
1.40 Acres
Occupancy
95%
Additional Details
Road Access
Yes
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$30,806
Amenities
Ductless, Wall/Window Unit(s)
Baseboard, Heat Pump, Oil
Walk-Out Access
Off Street
Building Details
Building Size
14,910 SF
Year Built
1969
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
JFIVE HOMES REALTY LLC
Listed By:
Jennifer Fivelsdal
(845) 594-9947
Source:
Evrealestate
Added: Jun 5
Changed: Aug 25
Last Checked: Sep 14 at 5:20AM
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 JFIVE HOMES REALTY LLC
Investment Insights
Based on property information with market context.
The property is a retail/office plaza totaling 11,255 square feet on 1.4 acres, with 95 feet of primary frontage on State Route 9G. Five of six units are currently leased, creating a multi-tenant setup with ongoing occupancy. The tenant mix is anchored by a long-standing business equipment dealership and a local pizzeria with 30+ years in place. In addition to the retail and office units, the building includes a 1,250-square-foot warehouse unit with an overhead door, currently owner-occupied, providing flexibility for immediate rental expansion.
Located at 600 Violet Avenue in Hyde Park, the plaza sits within a high-traffic commercial corridor near Marist University, Dutchess Community College, The Culinary Institute of America, the Franklin D. Roosevelt Presidential Library, and the new Inn at Bellefield. The area also includes additional development under construction. On-site parking is provided for 36 vehicles.
For buyers and operators, the asset offers a turn-key income base supported by long-tenured anchor tenants and a majority-leased configuration. The presence of a warehouse unit with an overhead door expands leasing optionality beyond traditional storefront and office uses. With parking on-site and direct visibility along State Route 9G, the property is positioned to serve both retail-oriented and service-oriented office users seeking convenient access in an active educational and tourist district.
Located at 600 Violet Avenue in Hyde Park, the plaza sits within a high-traffic commercial corridor near Marist University, Dutchess Community College, The Culinary Institute of America, the Franklin D. Roosevelt Presidential Library, and the new Inn at Bellefield. The area also includes additional development under construction. On-site parking is provided for 36 vehicles.
For buyers and operators, the asset offers a turn-key income base supported by long-tenured anchor tenants and a majority-leased configuration. The presence of a warehouse unit with an overhead door expands leasing optionality beyond traditional storefront and office uses. With parking on-site and direct visibility along State Route 9G, the property is positioned to serve both retail-oriented and service-oriented office users seeking convenient access in an active educational and tourist district.
Key Highlights
- 11,255 SF retail/office plaza on 1.4 acres with 95 ft of primary frontage on State Route 9G
- 5 of 6 units leased, anchored by a long‑standing business equipment dealership and a local pizzeria with 30+ year tenure
- 1,250 SF warehouse unit with overhead door included; currently owner‑occupied with potential rental expansion
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
$84,526
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
8.71%
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%
$1,690,520
$1.7M
Cap Rate 7%
$1,207,514
$1.2M
Cap Rate 9%
$939,178
$939.2K
Market Conditions
NOI Build-Up for 11,255 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
$106.7K $9.48/SF
− Vacancy
−$7.3K −$0.64/SF
EGI
$99.4K $8.84/SF
− OpEx
−$14.9K −$1.33/SF
NOI
$84.5K $7.51/SF
Area
Dutchess County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,690,520
Cap Rate 7%
$1,207,514
Cap Rate 9%
$939,178
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $3.00M
NOI $180,143 @ 7.0% cap · market cap 18.57%
Second Best
Retail
$2.06M
$1.80M – $2.40M
NOI $144,008 @ 7.0% cap · market cap 14.85%
Theoretical Best
Office A
$3.39M
$2.96M – $3.95M
NOI $237,157 @ 7.0% cap · market cap 24.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
95%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12538, NY
14,181
Population
5,609
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
25.5 sq mi
ZIP Area
556
Density / Sq Mi
$86,641
Median Household Income
$44,926
Median Earnings
$1,190
Median Rent
$287,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Shopping center - 11,255 SF plaza on State Route 9G with 95 feet frontage, leased units, and an overhead-door warehouse space.
Where is this shopping center located?
The property is located at 600 Violet Avenue Hyde Park, NY.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: 11,255 SF retail/office plaza on 1.4 acres with 95 ft of primary frontage on State Route 9G; 5 of 6 units leased, anchored by a long‑standing business equipment dealership and a local pizzeria with 30+ year tenure; 1,250 SF warehouse unit with overhead door included; currently owner‑occupied with potential rental expansion
