501 Peyton St
About This Property
The current layout offers a head start on your renovation: private offices that convert easily into bedrooms or flex spaces, a reception area with plenty of room to reimagine as a family gathering space or open-concept living area, and a functional bathroom ready to be updated to residential finishes.
Of course, the space works just as well as-is for medical, legal, consulting, or administrative use - offering flexibility for buyers who want a turnkey commercial setup. But for those with vision, this property presents an exciting chance to create a one-of-a-kind home in a highly accessible location, blending the best of both worlds: solid existing infrastructure and the freedom to design a space that's uniquely yours.
Whether you're drawn to its business-ready functionality or its potential as a distinctive residential conversion, this property delivers flexibility, location, and opportunity.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 4, 2026 | Listed by Trinity Ranch Land Cross Plains | $169,000 | |
| Listed by Trinity Ranch Land Cross Plains | |||
| May 14, 2026 | Price Decreased |
$169,000
↓ $6K
(3.4%) | |
| Price Decreased | |||
| Feb 16, 2026 | Relisted | $175,000 | |
| Relisted | |||
| Feb 4, 2026 | In contract | - | |
| In contract | |||
| Oct 15, 2025 | Listed by Trinity Ranch Land Cross Plains | $175,000 | |
| Listed by Trinity Ranch Land Cross Plains | |||
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Discover the perfect professional setting for your business with this well-maintained commercial space, featuring five private offices, a welcoming reception area, and a conveniently located bathroom. Ideal for a variety of uses including medical, legal, consulting, or administrative services, this layout offers flexibility and functionality in a highly accessible location. Great lobby area with plenty of space for seating patients, clients or even a conference table. Whether you're starting a new venture or relocating an established business, this space offers everything you need to operate efficiently in a professional environment.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017