Manufacturing Building with Office
New
For Sale
$1,700,000
1397 Route 55, Lagrangeville, NY 12540
Light-industrial improvements include workshop areas, office accommodations, and loading access.
Property Size15,000 SF
Price / SF$113.33
Days on Market2
Property Features for 1397 Route 55
General Information
Standard status
Active
Size
15,000 SF
Total Parking Spaces
20
Property subtype
Industrial
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
2
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$30,138
Building Details
Building Size
15,000 SF
Year Built
1975
Buildings
1
Stories
2
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
RAND COMMERCIAL
(719) 313-7320
Listed By:
Kyle Knauf · License #10301202095
(719) 313-7320
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 7:58AM
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 RAND COMMERCIAL
Investment Insights
Based on property information with market context.
This owner-occupied manufacturing property at 1397 Route 55 in Lagrangeville comprises a 15,000 SF setback building constructed in 1975. The first floor contains 6,000 SF of office and workshop space with a drive-in door. A second-floor 9,000 SF section includes additional office and workshop areas positioned above a 3,000 SF open workshop. Rear loading is provided by one dock door and one roll-up drive-in door.
The property sits between Billings and Freedom Plains on Route 55, with access to the Taconic State Parkway minutes away. Approximately 20 parking spaces are available on an unpaved area, while the elevated rear portion of the lot is level and can accommodate additional parking. The facility includes 3 phase electrical panels and high-voltage metal fabrication machines. The business and equipment may be purchased separately or included with the property.
The property sits between Billings and Freedom Plains on Route 55, with access to the Taconic State Parkway minutes away. Approximately 20 parking spaces are available on an unpaved area, while the elevated rear portion of the lot is level and can accommodate additional parking. The facility includes 3 phase electrical panels and high-voltage metal fabrication machines. The business and equipment may be purchased separately or included with the property.
Key Highlights
- 15,000 SF manufacturing and office building constructed in 1975
- 6,000 SF first floor plus 9,000 SF second‑floor section
- 3,000 SF open workshop with one dock door and one roll top drive in door
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
$112,651
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
6.63%
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%
$2,253,020
$2.3M
Cap Rate 7%
$1,609,300
$1.6M
Cap Rate 9%
$1,251,678
$1.3M
Market Conditions
NOI Build-Up for 15,000 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
$142.2K $9.48/SF
− Vacancy
−$9.7K −$0.64/SF
EGI
$132.5K $8.84/SF
− OpEx
−$19.9K −$1.33/SF
NOI
$112.7K $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%
$2,253,020
Cap Rate 7%
$1,609,300
Cap Rate 9%
$1,251,678
Alternative Uses
Best Use
Flex RnD
$3.52M
$3.08M – $4.10M
NOI $246,227 @ 7.0% cap · market cap 14.48%
Second Best
Office B
$3.43M
$3.00M – $4.00M
NOI $240,084 @ 7.0% cap · market cap 14.12%
Theoretical Best
Office A
$4.52M
$3.95M – $5.27M
NOI $316,068 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
2
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 12540, NY
7,666
Population
3,318
Households
2.3
Avg Household Size
44
Median Age
43%
College-Educated
96%
High-School Grad
35.3 sq mi
ZIP Area
217
Density / Sq Mi
$107,436
Median Household Income
$47,849
Median Earnings
$2,077
Median Rent
$443,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Light-industrial improvements include workshop areas, office accommodations, and loading access.
Where is this manufacturing property located?
The property is located at 1397 Route 55 Lagrangeville, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 15,000 SF manufacturing and office building constructed in 1975; 6,000 SF first floor plus 9,000 SF second‑floor section; 3,000 SF open workshop with one dock door and one roll top drive in door
