Mixed-Use Property with
For Sale
$663,000
2676 W Main St, Wappingers Falls, NY 12590
Three-bedroom housing, a leased wellness business, and unfinished lower-level space share one building.
Property Size3,465 SF
Price / SF$191.34
Days on Market25
Property Features for 2676 W Main St
General Information
Standard status
Active
Size
3,465 SF
Property subtype
Commercial
Listing Agency:
Sams Realty
Listed By:
Anthony P. Hardisty
(845) 831-0344
Source:
Searchhomesinlongisland
Added: Sep 11
Changed: Oct 1
Last Checked: Oct 4 at 10:12AM
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 Sams Realty
Investment Insights
Based on property information with market context.
This mixed-use building contains approximately 3,300 square feet across three distinct areas. The approximately 1,200-square-foot apartment has three bedrooms, one bathroom, forced-air heat, central air conditioning, and an in-unit washer and dryer. A commercial wellness space of approximately 1,050 square feet was renovated in 2023 and is leased to an established business. Another approximately 1,050-square-foot lower-level unit is gutted and awaits completion. The apartment and commercial space are currently leased.
Improvements include a new roof, spray foam insulation, replacement windows and glass, and new mechanical systems. Tenants pay all utilities.
Improvements include a new roof, spray foam insulation, replacement windows and glass, and new mechanical systems. Tenants pay all utilities.
Key Highlights
- Approximately 3,300 square feet of total space
- Three‑bedroom, one‑bath apartment measuring approximately 1,200 square feet
- Approximately 1,050‑square‑foot commercial wellness space, renovated in 2023 and leased to an established business
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
$59,528
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
8.98%
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%
$1,190,560
$1.2M
Cap Rate 7%
$850,400
$850.4K
Cap Rate 9%
$661,422
$661.4K
Market Conditions
NOI Build-Up for 3,465 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
$113.9K $32.88/SF
− Vacancy
−$5.7K −$1.64/SF
EGI
$108.2K $31.24/SF
− OpEx
−$48.7K −$14.06/SF
NOI
$59.5K $17.18/SF
Area
Dutchess County, NY
Vacancy
5.00%
Lease Rate
$32.88 /SF/Yr
Expense Ratio
45.00%
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%
$1,190,560
Cap Rate 7%
$850,400
Cap Rate 9%
$661,422
Alternative Uses
Best Use
Apartment 5plus
$850.4K
$744.1K – $992.1K
NOI $59,528 @ 7.0% cap · market cap 8.98%
Second Best
Mixed Use
$601.4K
$526.3K – $701.7K
NOI $42,100 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$1.04M
$912.7K – $1.22M
NOI $73,012 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-bedroom housing, a leased wellness business, and unfinished lower-level space share one building.
Where is this mixed-use property located?
The property is located at 2676 W Main St Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $663,000.
What are key features of this property?
This property features: Approximately 3,300 square feet of total space; Three‑bedroom, one‑bath apartment measuring approximately 1,200 square feet; Approximately 1,050‑square‑foot commercial wellness space, renovated in 2023 and leased to an established business
