Flex Space with Garage
New
For Sale
$499,000
628 South Street, Hoosick Falls, NY 12090
Commercial Sale, Hoosick Falls, NY
Property Size3,730 SF
Lot Size2.09 Acres
Price / SF$133.78
Days on Market3
Property Features for 628 South Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
15
Parking features
Off Street
Interior features
High Speed Internet
Exterior features
Lighting
Lot features
Road Frontage, Cleared, Landscaped
Elementary school
Hoosick Falls
High school
Hoosick Falls
Elementary school district
Hoosick Falls
Middle school district
Hoosick Falls
High school district
Hoosick Falls
Directions
From NY State Route 7 to South St Hoosick (AKA County Route 95) to 628 South St. Next to Hoosick Self Storage.
Standard status
Active
APN
382889 48.3-2-3.12
Size
3,730 SF
Lot size
2.09 Acres
Taxes and HOA fees
Tax Annual Amount
9354
Utilities
Sewer type
Septic Tank
Heating system
Zoned, Ductless (Heating), Forced Air, Oil
Cooling system
Wall Unit(s)
Water source
Well
Building Details
Year built
1980
Floors in Building
1
Flooring type
Linoleum, Carpet, Wood, Concrete, Vinyl, Tile - Ceramic
Building materials
Metal Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 687-2222
Listed By:
Raymond A Tinkham · License #10301207686
(518) 892-9427
Added: Aug 22
Changed: Aug 23
Last Checked: Aug 24 at 2:06PM
MLS# 202624633
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 flex-space property combines several commercial components within a single facility, including approximately 900 square feet of retail area, 800 square feet of office space, and 720 square feet of storage. The building also includes garage and workshop areas with ceiling heights ranging from 12 to 15 feet, plus multiple overhead doors. Heating is provided by LP hot air, and the property has 400/240-volt three-phase electric service.
The site is positioned just off NY RT 7, providing access toward destinations in New York, Vermont, and Massachusetts. Exterior improvements include a blacktop driveway and parking area, while the property also features metal siding, a metal roof, off-street parking, well water, and septic service. Interior finishes include concrete, wood, carpet, linoleum, vinyl, and ceramic tile.
The site is positioned just off NY RT 7, providing access toward destinations in New York, Vermont, and Massachusetts. Exterior improvements include a blacktop driveway and parking area, while the property also features metal siding, a metal roof, off-street parking, well water, and septic service. Interior finishes include concrete, wood, carpet, linoleum, vinyl, and ceramic tile.
Key Highlights
- Retail, office, and storage areas measure approximately 900, 800, and 720 square feet
- Garage and workshop areas include ceiling heights from 12 to 15 feet
- 400/240‑volt three‑phase electric service
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
$40,150
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
8.05%
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%
$803,000
$803.0K
Cap Rate 7%
$573,571
$573.6K
Cap Rate 9%
$446,111
$446.1K
Market Conditions
NOI Build-Up for 3,730 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
$67.1K $18.00/SF
− Vacancy
−$5.4K −$1.44/SF
EGI
$61.8K $16.56/SF
− OpEx
−$21.6K −$5.80/SF
NOI
$40.1K $10.76/SF
Area
Rensselaer County, NY
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$803,000
Cap Rate 7%
$573,571
Cap Rate 9%
$446,111
Alternative Uses
Best Use
Flex RnD
$573.6K
$501.9K – $669.2K
NOI $40,150 @ 7.0% cap · market cap 8.05%
Second Best
Industrial
$563.2K
$492.8K – $657.0K
NOI $39,422 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$932.4K
$815.9K – $1.09M
NOI $65,271 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,049
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12090, NY
6,223
Population
2,714
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
93%
High-School Grad
57.8 sq mi
ZIP Area
108
Density / Sq Mi
$72,500
Median Household Income
$43,125
Median Earnings
$834
Median Rent
$187,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed-zoning commercial property with retail, office, storage, workshop, and garage areas in one adaptable facility.
Where is this flex space located?
The property is located at 628 South Street Hoosick Falls, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Retail, office, and storage areas measure approximately 900, 800, and 720 square feet; Garage and workshop areas include ceiling heights from 12 to 15 feet; 400/240‑volt three‑phase electric service
