Industrial Warehouse in Middletown,
For Sale
$2,500,000
105 Sprague Ave, Middletown, NY 10940
Industrial warehouse on 26,000 sq ft lot, Middletown, NY.
Property Size26,000 SF
Lot Size0.60 Acres
Price / SF$96.15
Days on Market369
Property Features for 105 Sprague Ave
General Information
Standard status
Active
Size
26,000 SF
Lot size
0.60 Acres
Property subtype
Commercial
Listing Agency:
Preferred Properties Real Esta
Listed By:
Joao M Rodrigues · License #40RO0958526
(845) 469-7781
Source:
Searchhomesinlongisland
Added: Sep 12, 2025
Changed: Sep 10
Last Checked: Sep 14 at 12:21PM
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 Preferred Properties Real Esta
Investment Insights
Based on property information with market context.
Located in Middletown, NY, this industrial warehouse is zoned I-2 and offers a business opportunity. The property is situated on a 26,000 square foot lot with dimensions of 405 x 150 feet. Ceiling heights range from 13 to 20 feet, accommodating various industrial needs. Drive-in trailer unloads enhance operational flexibility. The warehouse is positioned for business efficiency and is conveniently located near Route 17 and Route 84, ensuring logistics and convenient commuting.
Key Highlights
- Prime location with convenient access to Rt. 17 and Rt. 84, ensuring seamless logistics and commuting.
- Zoned I‑2, offering a prime opportunity for businesses.
- 26,000 sq. ft. lot (405 x 150 ft.) provides ample space.
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
$212,088
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
8.48%
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%
$4,241,760
$4.2M
Cap Rate 7%
$3,029,829
$3.0M
Cap Rate 9%
$2,356,533
$2.4M
Market Conditions
NOI Build-Up for 26,000 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
$365.0K $14.04/SF
− Vacancy
−$62.1K −$2.39/SF
EGI
$303.0K $11.65/SF
− OpEx
−$90.9K −$3.50/SF
NOI
$212.1K $8.16/SF
Area
Orange County, NY
Vacancy
17.00%
Lease Rate
$14.04 /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%
$4,241,760
Cap Rate 7%
$3,029,829
Cap Rate 9%
$2,356,533
Alternative Uses
Best Use
Warehouse
$3.68M
$3.22M – $4.29M
NOI $257,536 @ 7.0% cap · market cap 10.30%
Second Best
Industrial
$3.03M
$2.65M – $3.53M
NOI $212,088 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$8.81M
$7.71M – $10.27M
NOI $616,412 @ 7.0% cap · market cap 24.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,027
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10940, NY
52,803
Population
19,930
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
63.1 sq mi
ZIP Area
837
Density / Sq Mi
$87,198
Median Household Income
$46,435
Median Earnings
$1,600
Median Rent
$301,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- CubeSmart Self Storage — 94 Dolson Ave, Middletown, NY 10940
- Advantage Self Storage - Middletown — 94 dolson ave, middletown, ny 10940
- Sprague Storage Facility — 105-119 Sprague Ave 1st floor, Middletown, NY 10940
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse on 26,000 sq ft lot, Middletown, NY.
Where is this warehouse located?
The property is located at 105 Sprague Ave Middletown, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime location with convenient access to Rt. 17 and Rt. 84, ensuring seamless logistics and commuting.; Zoned I‑2, offering a prime opportunity for businesses.; 26,000 sq. ft. lot (405 x 150 ft.) provides ample space.
