Updated Restaurant Space with Walk-In
For Sale
Under Contract
$799,000
7588 N Broadway, Red Hook, NY 12571
COMMERCIAL - Red Hook, NY
Property Size1,959 SF
Lot Size0.28 Acres
Price / SF$407.86
Days on Market146
Property Features for 7588 N Broadway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GB
Zoning description
General Business
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking
22
Exterior features
Lighting
Basement
Storage Space, Interior Entry, Unfinished, Full
Appliances
Refrigerator, Oven, Ice Maker, Freezer, Exhaust Fan, Dishwasher, Cooktop, Bar Fridge
Lot features
Near Public Transit, Paved
Elementary school district
Red Hook Central School District
Middle school district
Red Hook Central School District
High school district
Red Hook Central School District
Directions
Property is located between Salvatore's Wood Fired Pizza and AA Nails Plus on N Broadway in the Village of Red Hook.
Subdivision
Red Hook
Standard status
Active Under Contract
APN
134801-6272-07-506847-0000
Size
1,959 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
10035
Utilities
Utilities
Propane
Sewer type
Public Sewer
Heating system
Forced Air, Propane (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1975
Flooring type
Tile
Building materials
Frame, Vinyl Siding
Roof type
Rolled Hot Mop
Listing Agency:
Coldwell Banker Village GreenK · Coldwell Banker Real Estate
(845) 331-5357
Listed By:
Allison Morelle · License #10301217951
(315) 335-9809
Added: Mar 19
Changed: Aug 4
Last Checked: Aug 11 at 10:06PM
MLS# 20261032
Copyright © 2026 Hudson Valley Catskill Region MLS. 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.
Updated restaurant space in the Village of Red Hook’s General Business District (GB), designed to support a range of culinary concepts. Recent improvements have been made to the kitchen, bar, dining area, and mechanical systems. The interior includes tile flooring and a functional front-of-house to back-of-house flow, with a large lower level that adds operational capacity.
The lower level includes abundant storage, a walk-in freezer, and a private office. The property is served by public water and public sewer, with propane utilities noted, forced-air heating, and central air conditioning. Appliances and equipment included in the sale list feature a refrigerator, oven, ice maker, freezer, exhaust fan, dishwasher, cooktop, and bar fridge.
Additional details include a frame structure with vinyl siding, rolled hot mop roof, and on-site lighting. The property is offered with existing furnishings, fixtures, and equipment, supporting a fast transition for continued operations or a new concept.
The lower level includes abundant storage, a walk-in freezer, and a private office. The property is served by public water and public sewer, with propane utilities noted, forced-air heating, and central air conditioning. Appliances and equipment included in the sale list feature a refrigerator, oven, ice maker, freezer, exhaust fan, dishwasher, cooktop, and bar fridge.
Additional details include a frame structure with vinyl siding, rolled hot mop roof, and on-site lighting. The property is offered with existing furnishings, fixtures, and equipment, supporting a fast transition for continued operations or a new concept.
Key Highlights
- GB zoning in the Village of Red Hook
- Walk‑in freezer plus storage and a private office in the large lower level
- Appliances and equipment included: refrigerator, oven, ice maker, freezer, exhaust fan, dishwasher, cooktop, bar fridge
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated restaurant in the Village of Red Hook’s GB district with ample on-site parking and a walk-in freezer in the lower level.
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: GB zoning in the Village of Red Hook; Walk‑in freezer plus storage and a private office in the large lower level; Appliances and equipment included: refrigerator, oven, ice maker, freezer, exhaust fan, dishwasher, cooktop, bar fridge
