Live-Work Property with Private
For Sale
$579,900
638 Sergeant Palmateer Way, Wappingers Falls, NY 12590
A separate residential entrance helps distinguish the living quarters from the commercial area.
Property Size2,712 SF
Price / SF$213.83
Days on Market72
Property Features for 638 Sergeant Palmateer Way
General Information
Standard status
Active
Size
2,712 SF
Property subtype
Commercial
Zoning
HB
Site & Location
Highway Access
Yes
Road Access
Yes
Mixed-Use Components
commercial, residential
Taxes and HOA fees
Annual Taxes
$10,203
Amenities
off-street parking
private garage
full sized basement
Building Details
Building Size
2,712 SF
Year Built
1946
Buildings
1
Stories
3
Listing Agency:
Sams Realty
(845) 831-0344
Listed By:
Christopher P. Hardisty · License #10301223277
(914) 489-0282
Source:
Adamstreetrealty
Added: Aug 23
Changed: Nov 2
Last Checked: Nov 2 at 2:32AM
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
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Investment Insights
Based on property information with market context.
Configured for both commercial activity and residential use, the property has four bedrooms, two bathrooms, a full kitchen, a kitchenette, hardwood floors and a sun porch. A full-size basement provides storage and utility space, and a private garage is also included. The building dates to 1946 and is zoned HB.
Route 9 frontage serves the commercial portion, while the residential entrance is on a secondary road. Off-street parking accommodates 3+ vehicles. The stated zoning use categories include retail and commerce, food and dining, automotive services and professional services.
Route 9 frontage serves the commercial portion, while the residential entrance is on a secondary road. Off-street parking accommodates 3+ vehicles. The stated zoning use categories include retail and commerce, food and dining, automotive services and professional services.
Key Highlights
- Live‑work layout with 4 bedrooms and 2 bathrooms
- Route 9 frontage for the commercial area; residential entrance on a secondary road
- Off‑street parking for 3+ vehicles and a private garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,407
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,140
$868.1K
Cap Rate 7%
$620,100
$620.1K
Cap Rate 9%
$482,300
$482.3K
Market Conditions
NOI Build-Up for 2,712 SF
Gross rent
$74.2K $27.36/SF
− Vacancy
−$16.3K −$6.02/SF
EGI
$57.9K $21.34/SF
− OpEx
−$14.5K −$5.34/SF
NOI
$43.4K $16.01/SF
Area
Dutchess County, NY
Vacancy
22.00%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,140
Cap Rate 7%
$620,100
Cap Rate 9%
$482,300
Alternative Uses
Best Use
Office B
$620.1K
$542.6K – $723.5K
NOI $43,407 @ 7.0% cap · market cap 7.49%
Second Best
Mixed Use
$470.7K
$411.9K – $549.2K
NOI $32,951 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$816.4K
$714.3K – $952.4K
NOI $57,145 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
73
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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - A separate residential entrance helps distinguish the living quarters from the commercial area.
Where is this live-work space located?
The property is located at 638 Sergeant Palmateer Way Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Live‑work layout with 4 bedrooms and 2 bathrooms; Route 9 frontage for the commercial area; residential entrance on a secondary road; Off‑street parking for 3+ vehicles and a private garage
