Warren Street Live-Work
For Sale
Contact for pricing
705 Warren Street, Hudson, NY 12534
Renovated mixed-use building with residential and commercial spaces.
Property Size5,750 SF
Price / SF$343.48
Days on Market162
Property Features for 705 Warren Street
General Information
Standard status
Active
Size
5,750 SF
Property subtype
Mixed Use
Zoning
CC
Investment Type
Owner/User
Building Details
Year Built
1920
Year Renovated
2023
Stories
4
Listing Agency:
Tri Hudson Realty, LLC
(518) 697-0010
Listed By:
Peter Darrell · License #10401365658
Source:
Crexi
Added: Mar 12
Changed: Aug 20
Last Checked: Aug 19 at 4:24PM
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 Tri Hudson Realty, LLC
Investment Insights
Based on property information with market context.
Located on Warren Street, this live-work property overlooks the 7th St Park in Hudson, NY. The renovated and modernized building offers approximately 5,750 square feet of finished space across four floors, plus a basement. The upper level features approximately 2,800 square feet of residential space across three floors. Currently, the space is configured as a two-bedroom duplex on the third and fourth floors, and a two-bedroom rental apartment on the second floor. Both apartments have been remodeled with a new sprinkler system on the third and fourth floors, a newly insulated roof, new kitchens, and bathrooms. The upper floors offer views of the Catskill mountains and sunsets to the west, and unencumbered easterly views across the park. The ground floor is a design showroom covering approximately 2,400 square feet of open-plan space, with an additional approximately 500 square feet used as a garage or storage space. The front of the showroom includes a full chef's kitchen and a large powder room. The rear of the showroom is lit by two large industrial steel-framed windows and two skylights added with the new roof in 2018. An unfinished basement provides an additional approximately 1,200 square feet of storage. The live-work zoning allows for flexibility of use, including bar, restaurant, gallery, or maker space. Renovations include new electrical and plumbing, split units for AC and heating, a new rear roof, new windows, a new third-floor balcony, and a new GAF asphalt shingle main roof and water heater. A heated sidewalk allows for safe entry and exit. Structural steel was added to create the ground floor's open plan and ensure structural solidity. The property is located close to restaurants, stores, galleries, and the historic Park Theater, across from the Upper Depot District, which will be anchored by the Pocketbook Factory hotel and arts center.
Key Highlights
- Prime Warren Street location with live‑work zoning offering flexible usage for retail, residential, or creative endeavors.
- Fully renovated and modernized 5,750 sq ft building with high‑end residential space and income‑generating rental/Airbnb apartment.
- Extensive renovations including new electrical, plumbing, HVAC, roofs, windows, sprinkler system, and heated sidewalk.
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
$72,657
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
3.68%
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%
$1,453,140
$1.5M
Cap Rate 7%
$1,037,957
$1.0M
Cap Rate 9%
$807,300
$807.3K
Market Conditions
NOI Build-Up for 5,750 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
$124.2K $21.60/SF
− Vacancy
−$27.3K −$4.75/SF
EGI
$96.9K $16.85/SF
− OpEx
−$24.2K −$4.21/SF
NOI
$72.7K $12.64/SF
Area
Columbia County, NY
Vacancy
22.00%
Lease Rate
$21.60 /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%
$1,453,140
Cap Rate 7%
$1,037,957
Cap Rate 9%
$807,300
Alternative Uses
Best Use
Office B
$1.04M
$908.2K – $1.21M
NOI $72,657 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,581 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated mixed-use building with residential and commercial spaces.
Where is this mixed-use property located?
The property is located at 705 Warren Street Hudson, NY.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Prime Warren Street location with live‑work zoning offering flexible usage for retail, residential, or creative endeavors.; Fully renovated and modernized 5,750 sq ft building with high‑end residential space and income‑generating rental/Airbnb apartment.; Extensive renovations including new electrical, plumbing, HVAC, roofs, windows, sprinkler system, and heated sidewalk.
