Listing Agency: CR Properties Group, LLC Show Phone

Listed By: Tom Cervone

Source: Moodyscre

Added: Apr 24, 2025 Changed: Sep 6 Last Checked: Sep 16 at 5:28PM

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Investment Insights

Based on property information with market context.

Warehouse property totaling 16,800 square feet at 2436 Route 83 in Pine Plains, New York. The surrounding area is characterized by a rural setting with rolling hills, farmland, and forests, offering an outdoor-focused lifestyle and a small-town community feel.

The building size supports a range of warehouse and storage uses, with room to accommodate typical back-of-house logistics and inventory staging needs. For operational planning, the property’s Route 83 frontage and straightforward access along the main roadway are practical considerations for day-to-day receiving and distribution.

Key Highlights

• 16,800 SF warehouse property
• Located at 2436 Route 83 in Pine Plains, NY
• Rural setting with rolling hills, farmland, and forests

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

$126,169

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

8.44%

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%

$2,523,380 $2.5M

Cap Rate 7%

$1,802,414 $1.8M

Cap Rate 9%

$1,401,878 $1.4M

Market Conditions

NOI Build-Up for 16,800 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

$159.3K $9.48/SF

− Vacancy

−$10.8K −$0.64/SF

EGI

$148.4K $8.84/SF

− OpEx

−$22.3K −$1.33/SF

NOI

$126.2K $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 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%

$2,523,380

Cap Rate 7%

$1,802,414

Cap Rate 9%

$1,401,878

Alternative Uses

Best Use

Warehouse

$1.80M

$1.58M – $2.10M (±1% cap)

NOI $126,169 @ 7.0% cap · market cap 8.44%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.06M

$4.42M – $5.90M (±1% cap)

NOI $353,997 @ 7.0% cap · market cap 23.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Electrical Service Real Estate Agency Plumbing Service Storage Facility Dental Office Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12567, NY

2,564

Population

1,434

Households

1.8

Avg Household Size

50

Median Age

42%

College-Educated

91%

High-School Grad

46.0 sq mi

ZIP Area

56

Density / Sq Mi

$95,982

Median Household Income

$53,140

Median Earnings

$1,455

Median Rent

$329,700

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Warehouse property totaling 16,800 square feet at 2436 Route 83 in Pine Plains.

Where is this warehouse located?

The property is located at 2436 Route 83 Pine Plains, NY.

What is the asking price?

The asking price for this property is $1,495,000.

What are key features of this property?

This property features: 16,800 SF warehouse property; Located at 2436 Route 83 in Pine Plains, NY; Rural setting with rolling hills, farmland, and forests