Vacant Three-Unit
For Sale
$799,000
823 Warren Street, Hudson, NY 12534
Three distinct units offer flexible residential income or owner-occupant use in Hudson’s Warren Street corridor.
Property Size2,622 SF
Price / SF$304.73
Days on Market282
Property Features for 823 Warren Street
General Information
Standard status
Active
Size
2,622 SF
Property subtype
Multi Family / Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,673
Amenities
Rubber
Hot Water, Yes
Full
200+ Amp Service
Vinyl Siding
Building Details
Year Built
1980
Listing Agency:
Venture Fox Realty Group LLC
(845) 891-1770
Listed By:
Austin Urban · License #10401324525
(845) 891-1770
Source:
Compass
Added: Nov 23, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:53AM
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 Venture Fox Realty Group LLC
Investment Insights
Based on property information with market context.
This 2,622-square-foot triplex, built in 1980, contains three separate residential units and is currently fully vacant. The property has previously operated as a short-term rental and also supported owner use. Interior features include hot water, full service, and 200+ Amp Service, with vinyl siding on the building exterior.
Located at 823 Warren Street in Hudson, the property is positioned steps from restaurants, galleries, and shops. The three-unit configuration provides a straightforward framework for continued short-term rental operation, residential income use, or an owner-occupant arrangement, subject to applicable requirements.
Located at 823 Warren Street in Hudson, the property is positioned steps from restaurants, galleries, and shops. The three-unit configuration provides a straightforward framework for continued short-term rental operation, residential income use, or an owner-occupant arrangement, subject to applicable requirements.
Key Highlights
- Three‑unit multifamily property with 2,622 square feet
- Fully vacant, allowing flexibility for an owner or new operating plan
- Previously used as a short‑term rental and for owner use
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
$28,098
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
3.52%
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%
$561,960
$562.0K
Cap Rate 7%
$401,400
$401.4K
Cap Rate 9%
$312,200
$312.2K
Market Conditions
NOI Build-Up for 2,622 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
$42.5K $16.20/SF
− Vacancy
−$2.3K −$0.89/SF
EGI
$40.1K $15.31/SF
− OpEx
−$12.0K −$4.59/SF
NOI
$28.1K $10.72/SF
Area
Columbia County, NY
Vacancy
5.50%
Lease Rate
$16.20 /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%
$561,960
Cap Rate 7%
$401,400
Cap Rate 9%
$312,200
Alternative Uses
Best Use
Multifamily LT 5
$401.4K
$351.2K – $468.3K
NOI $28,098 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$352.3K
$308.3K – $411.0K
NOI $24,660 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$648.7K
$567.6K – $756.8K
NOI $45,409 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,313
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct units offer flexible residential income or owner-occupant use in Hudson’s Warren Street corridor.
Where is this triplex located?
The property is located at 823 Warren Street Hudson, 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: Three‑unit multifamily property with 2,622 square feet; Fully vacant, allowing flexibility for an owner or new operating plan; Previously used as a short‑term rental and for owner use
