Two Industrial Suites by
New
For Sale
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72 Airport Dr, Wappingers Falls, NY 12590
The available spaces face Dutchess County Airport and have stated drive times to I-84 and the Taconic State Parkway.
Property Size2,779 SF
Price / SF$134.94
Days on Market5
Property Features for 72 Airport Dr
General Information
Standard status
Active
Size
2,779 SF
Property subtype
INDUSTRIAL
Listing Agency:
CR Properties Group, LLC
(845) 485-3100
Listed By:
Tom Cervone
Source:
Moodyscre
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 4 at 9:57AM
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 CR Properties Group, LLC
Investment Insights
Based on property information with market context.
Two industrial spaces are offered at 72 Airport Drive: Unit 1-3 contains 1,964 square feet, and Unit 1-4 contains 2,779 square feet.
Dutchess County Airport is across NYS Route 376 from the property. Stated drive times are 14 minutes to I-84, Exit 46; 12 minutes to the Taconic State Parkway; 18 minutes to the Mid-Hudson Bridge; and 20 minutes to the Newburgh Beacon Bridge.
Dutchess County Airport is across NYS Route 376 from the property. Stated drive times are 14 minutes to I-84, Exit 46; 12 minutes to the Taconic State Parkway; 18 minutes to the Mid-Hudson Bridge; and 20 minutes to the Newburgh Beacon Bridge.
Key Highlights
- Unit 1‑4 contains 2,779 SF
- Unit 1‑3 contains 1,964 SF
- Across NYS Route 376 from Dutchess County Airport
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
$17,187
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
4.58%
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%
$343,740
$343.7K
Cap Rate 7%
$245,529
$245.5K
Cap Rate 9%
$190,967
$191.0K
Market Conditions
NOI Build-Up for 2,779 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
$26.3K $9.48/SF
− Vacancy
−$1.8K −$0.64/SF
EGI
$24.6K $8.84/SF
− OpEx
−$7.4K −$2.65/SF
NOI
$17.2K $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 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%
$343,740
Cap Rate 7%
$245,529
Cap Rate 9%
$190,967
Alternative Uses
Best Use
Industrial
$245.5K
$214.8K – $286.5K
NOI $17,187 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$836.5K
$732.0K – $976.0K
NOI $58,557 @ 7.0% cap · market cap 15.62%
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
93
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Industrial property - The available spaces face Dutchess County Airport and have stated drive times to I-84 and the Taconic State Parkway.
Where is this industrial property located?
The property is located at 72 Airport Dr Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Unit 1‑4 contains 2,779 SF; Unit 1‑3 contains 1,964 SF; Across NYS Route 376 from Dutchess County Airport
