Flex Space With Drive-In
For Sale
$325,000
Pending
72 Airport Dr Unit 1-4, Wappingers Falls, NY 12590
Commercial condominium space combines a private-entry office with rear drive-in access and adaptable office or storage areas.
Property Size2,175 SF
Days on Market366
Property Features for 72 Airport Dr Unit 1-4
General Information
Standard status
Pending
Size
2,175 SF
Property subtype
Commercial
Building Details
Year Built
2006
Listing Agency:
KW MidHudson
Listed By:
Don Minichino · License #10401333542
(845) 242-4381
Source:
Searchhomesinlongisland
Added: Nov 4, 2025
Changed: Nov 1
Last Checked: Nov 4 at 2:27PM
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
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Investment Insights
Based on property information with market context.
This flex-space condominium includes a 1,625-square-foot footprint with a front office accessed through its own entrance and a rear 14-foot drive-in door. Some units incorporate additional levels for office or storage use, providing flexibility beyond the primary floor area. Unit 1-4 includes a 550-square-foot third-floor office/storage area, bringing the reported total to 2,175 square feet.
The property was built in 2006 and is located near Hudson Valley Airport with access from NY-376. The condominium association provides water, sewer, garbage, building insurance, landscaping, snow removal, and management. Electric service includes EV charger use.
The property was built in 2006 and is located near Hudson Valley Airport with access from NY-376. The condominium association provides water, sewer, garbage, building insurance, landscaping, snow removal, and management. Electric service includes EV charger use.
Key Highlights
- 1,625 SF footprint with a 550 SF third‑floor office/storage area
- Reported total of 2,175 SF for Unit 1‑4
- Rear 14ft drive‑in door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,452
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,040
$269.0K
Cap Rate 7%
$192,171
$192.2K
Cap Rate 9%
$149,467
$149.5K
Market Conditions
NOI Build-Up for 2,175 SF
Gross rent
$20.6K $9.48/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$19.2K $8.84/SF
− OpEx
−$5.8K −$2.65/SF
NOI
$13.5K $6.18/SF
Area
Dutchess County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,040
Cap Rate 7%
$192,171
Cap Rate 9%
$149,467
Alternative Uses
Best Use
Flex RnD
$510.0K
$446.3K – $595.1K
NOI $35,703 @ 7.0% cap · market cap 10.99%
Second Best
Office B
$497.3K
$435.2K – $580.2K
NOI $34,812 @ 7.0% cap · market cap 10.71%
Theoretical Best
Office A
$654.7K
$572.9K – $763.8K
NOI $45,830 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
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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?
Flex space - Commercial condominium space combines a private-entry office with rear drive-in access and adaptable office or storage areas.
Where is this flex space located?
The property is located at 72 Airport Dr Unit 1-4 Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,625 SF footprint with a 550 SF third‑floor office/storage area; Reported total of 2,175 SF for Unit 1‑4; Rear 14ft drive‑in door
