Historic Red Hook Mixed-Use
For Sale
$1,500,000
7392 S Broadway, Red Hook, NY 12571
Versatile mixed-use property in Red Hook's vibrant village.
Property Size8,400 SF
Lot Size1.27 Acres
Price / SF$288.46
Days on Market153
Property Features for 7392 S Broadway
General Information
Standard status
Active
Size
8,400 SF
Lot size
1.27 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,789
Building Details
Building Size
8,400 SF
Year Built
1940
Listing Agency:
Four Seasons Sotheby's Int.
(917) 608-2680
Listed By:
Eliane M. Abramoff · License #10301208190
(917) 608-2680
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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 Four Seasons Sotheby's Int.
Investment Insights
Based on property information with market context.
Located in the Village of Red Hook, this property features a storied structure on 1.27 acres. The main floor spans over 5200 square feet, complemented by a 3200 square foot full-height lower level. Zoned NMU, the property allows for diverse uses, including eateries, retail, housing, multi-family dwellings, offices, education, day-care, medical facilities, and general business ventures. Originally designed as a soap factory in the 1940s by Eugene Callison, the U-shaped building includes a central courtyard. The level property allows for further development and outdoor activities. Situated on Route 9 (S Broadway), the location benefits from thoroughfare and sidewalk traffic, with ample rear parking. Infrastructure upgrades have been implemented by the current owner. The property presents opportunities for architectural and landscape expressions, including potential for a village residence or studio. The location is suitable for a variety of unique endeavors.
Key Highlights
- Prime location in the Village of Red Hook, poised for growth along the Rhinebeck/Hudson corridor.
- Highly desirable NMU zoning allows for a wide range of commercial and residential uses.
- Large building with 5200+ sqft main floor and 3200 sqft full height lower level on 1.27 acres.
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
$83,229
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
5.55%
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%
$1,664,580
$1.7M
Cap Rate 7%
$1,188,986
$1.2M
Cap Rate 9%
$924,767
$924.8K
Market Conditions
NOI Build-Up for 5,200 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
$142.3K $27.36/SF
− Vacancy
−$31.3K −$6.02/SF
EGI
$111.0K $21.34/SF
− OpEx
−$27.7K −$5.34/SF
NOI
$83.2K $16.01/SF
Area
Dutchess County, NY
Vacancy
22.00%
Lease Rate
$27.36 /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%
$1,664,580
Cap Rate 7%
$1,188,986
Cap Rate 9%
$924,767
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,229 @ 7.0% cap · market cap 5.55%
Second Best
Retail
$950.5K
$831.7K – $1.11M
NOI $66,534 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,570 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 12571, NY
9,600
Population
4,454
Households
2.2
Avg Household Size
47
Median Age
52%
College-Educated
95%
High-School Grad
58.1 sq mi
ZIP Area
165
Density / Sq Mi
$115,200
Median Household Income
$54,338
Median Earnings
$1,338
Median Rent
$386,300
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 - Versatile mixed-use property in Red Hook's vibrant village.
Where is this mixed-use property located?
The property is located at 7392 S Broadway Red Hook, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime location in the Village of Red Hook, poised for growth along the Rhinebeck/Hudson corridor.; Highly desirable NMU zoning allows for a wide range of commercial and residential uses.; Large building with **5200+ sqft main floor and 3200 sqft full height lower level on 1.27 acres.**
