Redevelopment Opportunity on Route
For Sale
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1105 - 1115 Route 9, Wappingers Falls, NY 12590
Retail plaza with redevelopment potential on 7.6 acres.
Property Size15,934 SF
Lot Size7.60 Acres
Price / SF$251.04
Days on Market3501
Property Features for 1105 - 1115 Route 9
General Information
Standard status
Active
Size
15,934 SF
Lot size
7.60 Acres
Property subtype
Retail, Office, Hospitality, Mixed Use, Land, Senior Living
Zoning
HB
Occupancy
25%
Lease Type
Modified Gross
Building Details
Year Built
1990
Stories
1
Tenancy
Multi
Listing Agency:
McGrath Realty Inc
Listed By:
Mike Fitzgerald · License #NY 10401228039
Source:
Crexi
Added: Mar 23, 2017
Changed: Oct 8
Last Checked: Oct 20 at 8:59PM
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 McGrath Realty Inc
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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 property presents a redevelopment opportunity with existing retail space. The former box retail plaza includes 15,934 square feet of retail space on 7.6 acres. Additional improvements feature multiple year-round canopy structures and a paved parking lot. The property is situated on Route 9, a major retail hub, surrounded by retail chain stores, plazas, fast food establishments, automotive dealerships, professional offices, recreational attractions, hotels, multi-family housing, warehouses, and self-storage properties. The property also induces current income and has two additional short-term retail tenants.
Key Highlights
- Exceptional redevelopment potential due to former retail plaza status.
- Located on the "Golden Mile" of Route 9, a major retail hub.
- Current income from existing retail tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,876
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,077,520
$4.1M
Cap Rate 7%
$2,912,514
$2.9M
Cap Rate 9%
$2,265,289
$2.3M
Market Conditions
NOI Build-Up for 15,934 SF
Gross rent
$304.0K $19.08/SF
− Vacancy
−$12.8K −$0.80/SF
EGI
$291.3K $18.28/SF
− OpEx
−$87.4K −$5.48/SF
NOI
$203.9K $12.80/SF
Area
Dutchess County, NY
Vacancy
4.20%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,077,520
Cap Rate 7%
$2,912,514
Cap Rate 9%
$2,265,289
Alternative Uses
Best Use
Retail
$2.91M
$2.55M – $3.40M
NOI $203,876 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,749 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
7k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 56%
Shops & Services 35%
Home Improvements & Furnishings 9%
Valvoline Instant Oil Change
Shops & Services
2,195 visits/mo
0.3 miles
Talbots
Apparel
1,241 visits/mo
0.0 miles
Jos. A. Bank Clothiers Inc.
Apparel
1,134 visits/mo
0.0 miles
Chico's
Apparel
900 visits/mo
0.0 miles
J. Jill
Apparel
823 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Shopping center - Retail plaza with redevelopment potential on 7.6 acres.
Where is this shopping center located?
The property is located at 1105 - 1115 Route 9 Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Exceptional redevelopment potential due to former retail plaza status.; Located on the "Golden Mile" of Route 9, a major retail hub.; Current income from existing retail tenants.
