Warehouse With Office
For Sale
$2,750,000
Pending
3050 State Route 208, Wallkill, NY 12589
Commercial Sale, Wallkill, NY
Property Size22,000 SF
Lot Size2.60 Acres
Days on Market320
Property Features for 3050 State Route 208
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street, Parking Lot
Security features
Security System
Lot features
Cleared, Level
Standard status
Pending
APN
5200-106.004-0001-007.112-0000
Lot size
2.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
29284
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Natural Gas, Propane (Heating)
Cooling system
Central Air
Water source
Well
Amenities
lunchroom
Building Details
Year built
1986
Floors in Building
1
Flooring type
Concrete, Combination
Listing Agency:
Keller Williams Realty
(845) 928-8000
Listed By:
Richard Baxter · License #10401254733
(845) 494-4715
Added: Oct 5, 2025
Changed: Aug 20
Last Checked: Aug 20 at 1:06PM
MLS# 918551
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This warehouse property occupies 2.6 acres at 3050 State Route 208 in Wallkill. The building includes approximately 1,880 square feet of finished office area with a lunchroom, private office, storage room, and two restrooms. The warehouse offers 24-foot center height and 18-foot eave height, along with concrete and combination flooring. Heating is provided by natural gas and propane, with central air cooling.
The property is positioned along State Route 208 and provides access to Interstate 84 and Interstate 87. SB (Small Business) zoning permits a broad range of uses, including light industrial, office, self-storage, auto maintenance and repair, commercial recreation, retail, personal services, and other listed uses. On-site features include a parking lot, off-street parking, well water, and septic service. The building was constructed in 1986.
The property is positioned along State Route 208 and provides access to Interstate 84 and Interstate 87. SB (Small Business) zoning permits a broad range of uses, including light industrial, office, self-storage, auto maintenance and repair, commercial recreation, retail, personal services, and other listed uses. On-site features include a parking lot, off-street parking, well water, and septic service. The building was constructed in 1986.
Key Highlights
- 2.6‑acre warehouse property at 3050 State Route 208, Wallkill, NY 12589
- Approximately 1,880 square feet of finished office area with lunchroom, private office, storage, and two restrooms
- Warehouse ceiling heights reach 24 feet at the center and 18 feet at the eaves
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
$177,871
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
6.47%
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%
$3,557,420
$3.6M
Cap Rate 7%
$2,541,014
$2.5M
Cap Rate 9%
$1,976,344
$2.0M
Market Conditions
NOI Build-Up for 22,000 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
$219.1K $9.96/SF
− Vacancy
−$9.9K −$0.45/SF
EGI
$209.3K $9.51/SF
− OpEx
−$31.4K −$1.43/SF
NOI
$177.9K $8.09/SF
Area
Ulster County, NY
Vacancy
4.50%
Lease Rate
$9.96 /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%
$3,557,420
Cap Rate 7%
$2,541,014
Cap Rate 9%
$1,976,344
Alternative Uses
Best Use
Flex RnD
$4.93M
$4.31M – $5.75M
NOI $344,916 @ 7.0% cap · market cap 12.54%
Second Best
Warehouse
$2.54M
$2.22M – $2.96M
NOI $177,871 @ 7.0% cap · market cap 6.47%
Theoretical Best
Multifamily LT 5
$205.74M
$180.02M – $240.03M
NOI $14,401,715 @ 7.0% cap · market cap 523.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12589, NY
16,935
Population
5,871
Households
2.9
Avg Household Size
41
Median Age
23%
College-Educated
90%
High-School Grad
59.5 sq mi
ZIP Area
285
Density / Sq Mi
$118,214
Median Household Income
$55,021
Median Earnings
$1,149
Median Rent
$342,400
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?
Warehouse - Industrial warehouse with finished administrative areas, high clearances, and SB zoning supporting varied commercial uses.
Where is this warehouse located?
The property is located at 3050 State Route 208 Wallkill, NY.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 2.6‑acre warehouse property at 3050 State Route 208, Wallkill, NY 12589; Approximately 1,880 square feet of finished office area with lunchroom, private office, storage, and two restrooms; Warehouse ceiling heights reach 24 feet at the center and 18 feet at the eaves
