Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    238 Watkins Ave Middletown, NY 10940

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1.00 SF/Yr

    Flex space with warehouse and storage, customizable from 700SF.

    Lot size:
    1.05 Acres

    Property Features for 238 Watkins Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    1.05 Acres

    Building Details

    Year built
    1986

    We can help!

    Listing Contact
    Chris Scibelli
    Chris Scibelli
    Source: Elliman

    Listing Agency: Keller Williams Realty Listing Agent: Chris Scibelli

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Middletown Flex Space For Rent

    Located in the City of Middletown, Town of Wallkill, this flex space is situated approximately 3 miles from Route 17. The building renovations are nearly complete, offering customizable spaces ranging from 700 square feet to over 5000 square feet. It is suitable for office space with warehouse and storage capabilities. A fenced-in private parking lot accommodates trucks or a fleet of vehicles. The location and setup are ideal for contractors, landscapers, manufacturing, and fulfillment centers, with professional offices also available. The building features 600 amp service, 3-phase electric power, natural gas, and fiber optics. The property includes a new, well-lit parking lot and is fully ADA accessible. Cooling is provided with a SEER rating of 12+. The floor load is 10. Common utilities available include cooling, heating, and lighting. The property offers convenient access in and out of this Middletown location.
    Location Intelligence

    Current Use by Public Records

    DAC Atlantic Insurance ... Insurance Agency Watkins Avenue Properties ... Corporate Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    For The Love of Food

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Orange
    State
    New York
    Longitude
    -74.4087351
    Latitude
    41.4679026

    Nearby Similar for Lease

    • $2,750 /Mo
      106,400 SF

      Versatile Commercial Space, Middletown NY

      High-visibility location suitable for retail, office, or service businesses.
      790 Route 211 E, Middletown, NY 10941
      View Details
    • New
      $1,500 /Mo
      16,631 SF

      Downtown Middletown Commercial Space Available

      Prime location in downtown Middletown, ideal for retail or office.
      12 Washington St, Middletown, NY 10940
      View Details
    • $3,800 /Mo
      178,596 SF

      Versatile Commercial Space on Route 17K

      Flexible warehouse and office space available for lease in Middletown.
      2824 State Route 17K, Middletown, NY 10941
      View Details
    • $7 SF/Yr
      383,328 SF

      Middletown Warehouse/Industrial Facility For Lease

      30,000 SF warehouse/industrial facility for lease in Middletown, NY.
      368 Highland Ave Ext, Middletown, NY 10940
      View Details
    • $1,800 /Mo
      4,639 SF

      Downtown Middletown Retail Space Available

      Fully operational commercial space in downtown Middletown, ready for your business.
      248 North St, Middletown, NY 10940
      View Details
    • $1,450 /Mo

      Middletown Commercial Space Available

      High-traffic commercial space ideal for retail, office, or salon.
      108 Prospect Avenue Ext, Middletown, NY 10940
      View Details
    • $6,800 /Mo
      7,575 SF

      Versatile Industrial Shell in Middletown

      Industrial space in Middletown's City Center with flexible DMU Zoning.
      8 John St, Middletown, NY 10940
      View Details
    • $1,500 /Mo
      16,631 SF

      Downtown Middletown Commercial Space Available

      Prime location in high-traffic area, ideal for retail or office.
      12 Washington St, Middletown, NY 10940
      View Details
    • $2,000 /Mo
      8,046 SF

      Prime Commercial Space Available

      High-visibility commercial space with ample parking in Middletown, NY.
      207 Monhagen Ave, Middletown, NY 10940
      View Details
    • $3,500 /Mo
      2,387 SF

      Prime Storefront in Middletown, NY

      Spacious commercial space in vibrant downtown Middletown. High visibility.
      30 North St, Middletown, NY 10940
      View Details
    • $8 SF/Yr

      Retail Space in Middletown, NY

      Open floor plan in a high-traffic area.
      39 Railroad Ave, Middletown, NY 10940
      View Details
    • $800 /Mo

      Retail/Office Space in Middletown, NY

      Retail or office space for rent in a high-traffic location.
      253 W Main St, Middletown, NY 10940
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex space with warehouse and storage, customizable from 700SF.
    Where is this flex space located?
    The property is located at 238 Watkins Ave Middletown, NY.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: - Flexible space: **700sf to over 5000sf available for custom design.**; - Ideal for contractors, landscapers, manufacturing, and fulfillment centers.; - **Fenced-in private parking lot** for trucks or fleet vehicles.
    (845) 494-3749
    Request Owner's contact information
    238 Watkins Ave Middletown, NY 10940
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    238 Watkins Ave
    Middletown, NY 10940
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    238 Watkins Ave Middletown, NY 10940
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Chris Scibelli
    Chris Scibelli
    Real Estate License ID: 10491200206
    (845) 494-3749 (845) 928-8000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!