Flex Industrial Building Zoned
For Sale
$1,400,000
188 Cottage St, Poughkeepsie, NY 12601
Zoned C-3 flex/industrial building with substantial lot area and long frontage for deliveries, parking, or outdoor operations.
Property Size12,832 SF
Lot Size1.00 Acre
Price / SF$109.10
Days on Market50
Property Features for 188 Cottage St
General Information
Standard status
Active
Size
12,832 SF
Lot size
1.00 Acre
Property subtype
Industrial
Zoning
C-3
Occupancy
100%
Additional Details
Cap Rate
9%
Listing Agency:
KW MIDHUDSON
(845) 863-5516
Listed By:
Stefania Riccitelli · License #10401388810
(845) 863-5516
Source:
Elliman
Added: Jun 20
Changed: Jul 10
Last Checked: Aug 7 at 4:28AM
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 KW MIDHUDSON
Investment Insights
Based on property information with market context.
188 Cottage Street is a 12,832 SF flex/industrial building with a flexible interior layout positioned for use as office, light industrial, or storage. The property sits on nearly an acre of land and includes approximately 141 feet of frontage, supporting practical site use for deliveries, employee parking, and outdoor operations.
The asset is located in Poughkeepsie’s industrial and commercial zone under C-3 zoning. Site planning and frontage can help accommodate day-to-day access needs for customers, staff, or logistics. Bicycle and walking accessibility are noted as moderate, with transit accessibility described as limited.
For buyers or operators, the key advantage is the combination of C-3 zoning and an adaptable building layout that can be aligned to office, light industrial, or storage requirements. With space already configured to support multiple uses, the property may appeal to tenants seeking flexibility rather than a strictly specialized facility. The building is described as fully occupied, which may support near-term continuity for an investor evaluating long-term ownership.
The asset is located in Poughkeepsie’s industrial and commercial zone under C-3 zoning. Site planning and frontage can help accommodate day-to-day access needs for customers, staff, or logistics. Bicycle and walking accessibility are noted as moderate, with transit accessibility described as limited.
For buyers or operators, the key advantage is the combination of C-3 zoning and an adaptable building layout that can be aligned to office, light industrial, or storage requirements. With space already configured to support multiple uses, the property may appeal to tenants seeking flexibility rather than a strictly specialized facility. The building is described as fully occupied, which may support near-term continuity for an investor evaluating long-term ownership.
Key Highlights
- 12,832 SF building in Poughkeepsie’s C‑3 industrial/commercial zone with flexible use for office, light industrial, storage, or conversion
- Nearly 1‑acre site with approx. 141 ft frontage for deliveries, employee parking, and potential outdoor operations
- Property is 100% leased with a strong rental history and tenant mix
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
$96,369
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
6.88%
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%
$1,927,380
$1.9M
Cap Rate 7%
$1,376,700
$1.4M
Cap Rate 9%
$1,070,767
$1.1M
Market Conditions
NOI Build-Up for 12,832 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
$121.6K $9.48/SF
− Vacancy
−$8.3K −$0.64/SF
EGI
$113.4K $8.84/SF
− OpEx
−$17.0K −$1.33/SF
NOI
$96.4K $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%
$1,927,380
Cap Rate 7%
$1,376,700
Cap Rate 9%
$1,070,767
Alternative Uses
Best Use
Flex RnD
$3.01M
$2.63M – $3.51M
NOI $210,639 @ 7.0% cap · market cap 15.05%
Second Best
Warehouse
$1.38M
$1.20M – $1.61M
NOI $96,369 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$3.86M
$3.38M – $4.51M
NOI $270,386 @ 7.0% cap · market cap 19.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12601, NY
44,264
Population
17,972
Households
2.5
Avg Household Size
35
Median Age
30%
College-Educated
88%
High-School Grad
18.3 sq mi
ZIP Area
2,419
Density / Sq Mi
$64,769
Median Household Income
$37,259
Median Earnings
$1,376
Median Rent
$275,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Zoned C-3 flex/industrial building with substantial lot area and long frontage for deliveries, parking, or outdoor operations.
Where is this flex space located?
The property is located at 188 Cottage St Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 12,832 SF building in Poughkeepsie’s C‑3 industrial/commercial zone with flexible use for office, light industrial, storage, or conversion; Nearly 1‑acre site with approx. 141 ft frontage for deliveries, employee parking, and potential outdoor operations; Property is 100% leased with a strong rental history and tenant mix
