Flex Space with C-3
For Sale
$1,400,000
188 Cottage Street, Poughkeepsie, NY 12601
Commercial Sale, Poughkeepsie, NY
Property Size12,832 SF
Lot Size0.94 Acres
Price / SF$109.10
Days on Market70
Property Features for 188 Cottage Street
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Poughkeepsie City
Middle school district
Poughkeepsie City
High school district
Poughkeepsie City
Standard status
Active
APN
131300-6162-72-450202-0000
Lot size
0.94 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
24876
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Number of units
8
Building materials
Block, Brick
Listing Agency:
KW MidHudson · Keller Williams Realty
(914) 962-0007
Listed By:
Don Minichino · License #10401333542
(845) 242-4381
Added: Jun 16
Changed: Aug 20
Last Checked: Aug 24 at 5:06PM
MLS# 1014443
Copyright © 2026 OneKey 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.
This flex-space property at 188 Cottage Street includes a block-and-brick building on 0.94 acres in Poughkeepsie's C-3 commercial and industrial zone. The space supports office, light industrial, storage, or reconfiguration for other income-producing uses, subject to applicable requirements. The property is currently 100% occupied and includes approximately 141 feet of frontage.
Building systems include central air conditioning and electric heat, with public water and public sewer serving the site. The lot provides space for deliveries, employee parking, and outdoor operations. A 9%+ cap rate and established rental history are also identified in the property information.
Building systems include central air conditioning and electric heat, with public water and public sewer serving the site. The lot provides space for deliveries, employee parking, and outdoor operations. A 9%+ cap rate and established rental history are also identified in the property information.
Key Highlights
- Flex‑space building in Poughkeepsie's C‑3 commercial and industrial zone
- 0.94‑acre site with approximately 141 ft of frontage
- Currently 100% occupied with established rental history
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
$96,369
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
6.88%
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%
$1,927,380
$1.9M
Cap Rate 7%
$1,376,700
$1.4M
Cap Rate 9%
$1,070,767
$1.1M
Market Conditions
NOI Build-Up for 12,832 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
$121.6K $9.48/SF
− Vacancy
−$8.3K −$0.64/SF
EGI
$113.4K $8.84/SF
− OpEx
−$17.0K −$1.33/SF
NOI
$96.4K $7.51/SF
Area
Dutchess County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,927,380
Cap Rate 7%
$1,376,700
Cap Rate 9%
$1,070,767
Alternative Uses
Best Use
Flex RnD
$3.01M
$2.63M – $3.51M
NOI $210,639 @ 7.0% cap · market cap 15.05%
Second Best
Warehouse
$1.38M
$1.20M – $1.61M
NOI $96,369 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$3.86M
$3.38M – $4.51M
NOI $270,386 @ 7.0% cap · market cap 19.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12601, NY
44,264
Population
17,972
Households
2.5
Avg Household Size
35
Median Age
30%
College-Educated
88%
High-School Grad
18.3 sq mi
ZIP Area
2,419
Density / Sq Mi
$64,769
Median Household Income
$37,259
Median Earnings
$1,376
Median Rent
$275,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Fully occupied commercial building with public water, public sewer, central air, and electric heat.
Where is this flex space located?
The property is located at 188 Cottage Street Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Flex‑space building in Poughkeepsie's C‑3 commercial and industrial zone; 0.94‑acre site with approximately 141 ft of frontage; Currently 100% occupied with established rental history
