Multi-Unit Industrial Condo
1-4-72 Airport Dr Wappingers Falls, NY 12590
For Sale
$325,000
Built in 2006, this multi-unit industrial condo includes front office entries and 14-ft drive-in doors.
Property Size2,175 SF
Price / SF$149.43
Days on Market123
Property Features for 1-4-72 Airport Dr
General Information
- Standard status
- Active
- Size
- 2,175 SF
Listing Agency:
KW MidHudson
(845) 242-4381
Listed By:
Don Minichino · License #10401333542
(845) 242-4381
Source:
Exprealty
Added: Mar 26
Changed: Jul 23
Last Checked: Jul 25 at 3:08PM
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
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.6k | $9.48 |
| − Vacancy | −$1.4k | −$0.64 |
| EGI | $19.2k | $8.84 |
| − OpEx | −$2.9k | −$1.33 |
| NOI | $16.3k | $7.51 |
2,175 SF · lease $9.48/SF/yr · vacancy 6.80% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$510.0K
$446.3K – $595.1K
NOI $35,703 @ 7.0% cap · market cap 10.99%
Second Best
Office B
$497.3K
$435.2K – $580.2K
NOI $34,812 @ 7.0% cap · market cap 10.71%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
FAQs
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
