Multi-Unit Industrial Condo
For Sale
$325,000
Pending
1-4-72 Airport Dr, Wappingers Falls, NY 12590
Built in 2006, this multi-unit industrial condo includes front office entries and 14-ft drive-in doors.
Property Size2,175 SF
Days on Market216
Property Features for 1-4-72 Airport Dr
General Information
Standard status
Pending
Size
2,175 SF
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$6,195
Amenities
Water
Sewer
Garbage
Building Insurance
Landscaping
Snow Removal
Management
EV charger
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
KW MidHudson
(914) 962-0007
Listed By:
Don Minichino · License #10401333542
(845) 242-4381
Source:
Exprealty
Added: Mar 26
Changed: Oct 25
Last Checked: Oct 26 at 7:42PM
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 KW MidHudson
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This built-in-2006 multi-unit industrial condo building offers 1,625 SF unit footprints with a front office area featuring a private entrance. The rear includes a 14-ft drive-in door, and some units include additional built-out space with a second or third floor for office and/or storage use.
The property is offered for sale near Hudson Valley Airport and off NY-376. On-site management is identified as Neave Landscaping.
HOA fees cover water, sewer, garbage, building insurance, landscaping, snow removal, and management. Annual expenses listed for 2025 include taxes for Unit 1-4 and electric, with electric noted as including EV charger use.
The property is offered for sale near Hudson Valley Airport and off NY-376. On-site management is identified as Neave Landscaping.
HOA fees cover water, sewer, garbage, building insurance, landscaping, snow removal, and management. Annual expenses listed for 2025 include taxes for Unit 1-4 and electric, with electric noted as including EV charger use.
Key Highlights
- Multi‑unit industrial condo building built in 2006 near Hudson Valley Airport and off NY‑376
- Each unit has a 1,625 SF footprint with a front office area and private entrance
- Rear units feature a 14‑ft drive‑in door; some units include a second or third floor for offices/storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,334
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,680
$326.7K
Cap Rate 7%
$233,343
$233.3K
Cap Rate 9%
$181,489
$181.5K
Market Conditions
NOI Build-Up for 2,175 SF
Gross rent
$20.6K $9.48/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$19.2K $8.84/SF
− OpEx
−$2.9K −$1.33/SF
NOI
$16.3K $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 Rate 5%
$326,680
Cap Rate 7%
$233,343
Cap Rate 9%
$181,489
Alternative Uses
Best Use
Flex RnD
$510.0K
$446.3K – $595.1K
NOI $35,703 @ 7.0% cap · market cap 10.99%
Second Best
Warehouse
$233.3K
$204.2K – $272.2K
NOI $16,334 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$654.7K
$572.9K – $763.8K
NOI $45,830 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12590, NY
37,051
Population
14,563
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
34.8 sq mi
ZIP Area
1,065
Density / Sq Mi
$98,252
Median Household Income
$52,861
Median Earnings
$1,674
Median Rent
$365,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Built in 2006, this multi-unit industrial condo includes front office entries and 14-ft drive-in doors.
Where is this flex space located?
The property is located at 1-4-72 Airport Dr Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Multi‑unit industrial condo building built in 2006 near Hudson Valley Airport and off NY‑376; Each unit has a 1,625 SF footprint with a front office area and private entrance; Rear units feature a 14‑ft drive‑in door; some units include a second or third floor for offices/storage
