Updated Restaurant with Full
For Sale
$799,000
7588 N Broadway, Red Hook, NY 12571
Restaurant space in the Village’s General Business District includes on-site parking and a lower level for storage and office use.
Property Size1,959 SF
Days on Market165
Property Features for 7588 N Broadway
General Information
Standard status
Active
Size
1,959 SF
Total Parking Spaces
22
Property subtype
Commercial
Zoning
GB
Additional Details
Furnished
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$10,035
Amenities
storage
walk-in freezer
private office
ample on-site parking
Building Details
Building Size
1,959 SF
Year Built
1975
Listing Agency:
Coldwell Banker Village Green
(315) 335-9809
Listed By:
Allison Morelle · License #10301217951
(315) 335-9809
Source:
Mydreamhomerealty
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 25 at 9:25AM
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 Coldwell Banker Village Green
Investment Insights
Based on property information with market context.
This restaurant property at 7588 N Broadway has undergone updates to the kitchen, bar, dining area, and mechanical systems. The interior arrangement connects customer seating and service areas with the back-of-house operations, while the lower level adds storage, a walk-in freezer, and a private office. Existing furnishings, fixtures, and equipment are included.
The property is located in the Village of Red Hook within the General Business District. On-site parking serves the restaurant, and the building dates to 1975. The combination of dining, kitchen, storage, and office components provides a complete operational layout for a restaurant user.
The property is located in the Village of Red Hook within the General Business District. On-site parking serves the restaurant, and the building dates to 1975. The combination of dining, kitchen, storage, and office components provides a complete operational layout for a restaurant user.
Key Highlights
- Updated kitchen, bar, dining area, and mechanical systems
- Lower level with storage, walk‑in freezer, and private office
- Existing furnishings, fixtures, and equipment included
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
$35,470
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
4.44%
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%
$709,400
$709.4K
Cap Rate 7%
$506,714
$506.7K
Cap Rate 9%
$394,111
$394.1K
Market Conditions
NOI Build-Up for 1,959 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
$49.4K $25.20/SF
− Vacancy
−$2.1K −$1.06/SF
EGI
$47.3K $24.14/SF
− OpEx
−$11.8K −$6.04/SF
NOI
$35.5K $18.11/SF
Area
Dutchess County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$709,400
Cap Rate 7%
$506,714
Cap Rate 9%
$394,111
Alternative Uses
Best Use
Specialty Retail
$506.7K
$443.4K – $591.2K
NOI $35,470 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$589.7K
$516.0K – $688.0K
NOI $41,279 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
6,031 visits/mo
0.3 miles
KeyBank
Shops & Services
2,861 visits/mo
0.3 miles
Exxon
Shops & Services
2,676 visits/mo
0.3 miles
Citgo
Shops & Services
940 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space in the Village’s General Business District includes on-site parking and a lower level for storage and office use.
Where is this conventional restaurant located?
The property is located at 7588 N Broadway Red Hook, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Updated kitchen, bar, dining area, and mechanical systems; Lower level with storage, walk‑in freezer, and private office; Existing furnishings, fixtures, and equipment included
