Two-Building Multifamily
For Sale
$1,950,000
747 Columbia Street Bet Park Place and 8th St, Hudson, NY 12534
Two adjacent buildings include three apartments and additional interior space.
Property Size6,049 SF
Days on Market75
Property Features for 747 Columbia Street Bet Park Place and 8th St
General Information
Standard status
Active
Size
6,049 SF
Property subtype
Multi Family
Units
Unit Mix
2 x studio, 1 x 2BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$20,590
Building Details
Building Size
6,049 SF
Year Built
1959
Buildings
2
Listing Agency:
The Kinderhook Group, Inc.
(518) 751-4444
Listed By:
Victor Mendolia · License #10301213871
Source:
Tkgre
Added: Jun 19
Changed: Aug 30
Last Checked: Aug 31 at 9:27PM
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 The Kinderhook Group, Inc.
Investment Insights
Based on property information with market context.
This multifamily offering consists of two adjacent buildings on separate parcels, conveyed together. The three-story front building at 747 Columbia Street includes a renovated studio apartment on the second floor, while other upper-level areas are configured for private dining and attic storage or future residential adaptation. The building currently accommodates Li’l Deb’s Oasis at the ground level.
The rear property, accessed by an alley within the parcels, was previously an auto repair garage and has been converted into two apartments. Its residential layout includes one two-bedroom, two-bath unit and a studio with a large skylight. The properties are identified as 747 Columbia Street and 747 1/2 Columbia Street, also referenced as 747 Columbia Street Rear. Both parcels are included in the sale.
The rear property, accessed by an alley within the parcels, was previously an auto repair garage and has been converted into two apartments. Its residential layout includes one two-bedroom, two-bath unit and a studio with a large skylight. The properties are identified as 747 Columbia Street and 747 1/2 Columbia Street, also referenced as 747 Columbia Street Rear. Both parcels are included in the sale.
Key Highlights
- Two adjacent buildings on separate parcels offered together
- Three‑story front building with a renovated second‑floor studio apartment
- Rear building converted from an auto repair garage into two apartments
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
$87,802
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
4.50%
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%
$1,756,040
$1.8M
Cap Rate 7%
$1,254,314
$1.3M
Cap Rate 9%
$975,578
$975.6K
Market Conditions
NOI Build-Up for 6,049 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
$130.7K $21.60/SF
− Vacancy
−$13.6K −$2.25/SF
EGI
$117.1K $19.35/SF
− OpEx
−$29.3K −$4.84/SF
NOI
$87.8K $14.52/SF
Area
Columbia County, NY
Vacancy
10.40%
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%
$1,756,040
Cap Rate 7%
$1,254,314
Cap Rate 9%
$975,578
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,802 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$812.7K
$711.1K – $948.2K
NOI $56,891 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,759 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,385
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two adjacent buildings include three apartments and additional interior space.
Where is this multifamily property located?
The property is located at 747 Columbia Street Bet Park Place and 8th St Hudson, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two adjacent buildings on separate parcels offered together; Three‑story front building with a renovated second‑floor studio apartment; Rear building converted from an auto repair garage into two apartments
