Historic Mixed-Use
For Sale
Contact for pricing
8 - 10 Park Place, Hudson, NY 12534
Brick historic building with commercial and residential development flexibility, park-facing bays, upper-level meeting rooms, and rear parking.
Property Size3,900 SF
Price / SF$329.49
Days on Market147
Property Features for 8 - 10 Park Place
General Information
Standard status
Active
Size
3,900 SF
Total Parking Spaces
4
Property subtype
Business for Sale
Zoning
Mixed use
Investment Type
Owner/User
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1868
Buildings
1
Units
4
Construction
brick
Listing Agency:
Tri Hudson Realty, LLC
Listed By:
Peter Darrell · License #10401365658
(518) 697-0010
Source:
Crexi
Added: Apr 10
Changed: Sep 2
Last Checked: Aug 31 at 11:59PM
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.
Built in 1868, this all-brick former firehouse offers a substantial mixed-use redevelopment opportunity with approximately 3,900 square feet above grade, additional basement area, and potential for footprint expansion. The property includes two ground-floor bays with 12-foot ceilings and overhead doors oriented toward 7th Street Park. Two large second-floor meeting rooms feature 13-foot ceilings, while original chestnut spiral staircases connect the levels. A rear wooden addition and reinforced steel-and-concrete basement provide further areas for buildout.
The building occupies three combined parcels at 8-10 Park Pl in Hudson’s Historic District and is zoned R-3 for commercial and/or residential use. The rear lot can accommodate off-street parking for four cars and is accessed from the Alley. The property is positioned near coffee shops, restaurants, craft breweries, cocktail bars, Warren’s Street retail, the 46-room Pocketbook hotel complex, and the 64-unit Hudson Depot Lofts development. The site is also identified as an Opportunity Zone and is eligible for federal and New York State historic preservation tax credits.
The building occupies three combined parcels at 8-10 Park Pl in Hudson’s Historic District and is zoned R-3 for commercial and/or residential use. The rear lot can accommodate off-street parking for four cars and is accessed from the Alley. The property is positioned near coffee shops, restaurants, craft breweries, cocktail bars, Warren’s Street retail, the 46-room Pocketbook hotel complex, and the 64-unit Hudson Depot Lofts development. The site is also identified as an Opportunity Zone and is eligible for federal and New York State historic preservation tax credits.
Key Highlights
- Built in 1868 and located in Hudson’s Historic District
- Approximately 3900 SF above grade, plus additional basement space
- Two ground‑floor bays with 12‑foot ceilings and park‑facing overhead doors
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
$41,048
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
3.19%
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%
$820,960
$821.0K
Cap Rate 7%
$586,400
$586.4K
Cap Rate 9%
$456,089
$456.1K
Market Conditions
NOI Build-Up for 3,900 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
$65.5K $16.80/SF
− Vacancy
−$6.9K −$1.76/SF
EGI
$58.6K $15.04/SF
− OpEx
−$17.6K −$4.51/SF
NOI
$41.0K $10.53/SF
Area
Columbia County, NY
Vacancy
10.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$820,960
Cap Rate 7%
$586,400
Cap Rate 9%
$456,089
Alternative Uses
Best Use
Retail
$586.4K
$513.1K – $684.1K
NOI $41,048 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$964.9K
$844.3K – $1.13M
NOI $67,542 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,385
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
3,583 visits/mo
0.0 miles
Citgo
Shops & Services
2,286 visits/mo
0.0 miles
Berkshire Bank
Shops & Services
2,190 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick historic building with commercial and residential development flexibility, park-facing bays, upper-level meeting rooms, and rear parking.
Where is this mixed-use property located?
The property is located at 8 - 10 Park Place Hudson, NY.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: Built in 1868 and located in Hudson’s Historic District; Approximately 3900 SF above grade, plus additional basement space; Two ground‑floor bays with 12‑foot ceilings and park‑facing overhead doors
