This exceptional investment opportunity encompasses 24 acres of land at Sky Acres Airport (44N) in Lagrangeville, NY, featuring two hangars totaling 14,046 square feet of commercial space. The main building, a Boeck steel frame structure repainted in 2020, boasts a 6,000 square foot hangar with a 1,000 square foot mezzanine. An additional 3,000 square feet of office space occupies the second floor, while 3,000 square feet of ground-level space serves as storage/workshop area with a drive-in bay. A second hangar, constructed in 2014 using advanced steel framing, offers 1,632 square feet of single-level space. The property includes a paved parking lot with 25 spaces and enjoys direct taxiway access. The 20-foot ceiling height in the main hangar provides ample vertical space. The property is zoned for aviation use and presents significant development potential for various uses, including office space, light manufacturing, aviation schools, warehousing, and other airport-related businesses. The location offers easy access via a gated private road and proximity to a full-service airport with fueling, terminal, and restaurant facilities. Stewart International Airport is approximately 40 miles away. The surrounding Hudson Valley area provides access to numerous recreational activities, including hiking, fishing, skiing, camping, golf, and hunting. This property offers a unique blend of existing infrastructure and substantial undeveloped land, making it an ideal investment for those seeking high-growth potential in a desirable location. The asking price is $1,475,000, with a price per square foot of $105.01. The property is available for occupancy on September 26, 2023.
Property Features for 79 Styles Way
General Information
Property type
Flex space
Square Feet
14,046 SF
Lot Size
1,045,440 SF
Building Details
Year Renovated
2020
Buildings
2
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Listing Contact
Clayton Livingston
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Property Insight Report
HighLights
24‑acre parcel at Sky Acres Airport (44N) in Lagrangeville, NY.
14,046 SF of commercial hangar space in two buildings.
Main hangar (6,000 SF) features a 1,000 SF mezzanine and 3,000 SF of ground‑level storage/workshop space; second hangar (1,632 SF) built in 2014.
25‑space paved parking lot with direct taxiway access.
Zoned for aviation use with high development potential (office, light manufacturing, aviation schools, warehousing).
The property is located at 79 Styles Way Lagrangeville, NY.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 24-acre parcel at Sky Acres Airport (44N) in Lagrangeville, NY.; 14,046 SF of commercial hangar space in two buildings.; Main hangar (6,000 SF) features a 1,000 SF mezzanine and 3,000 SF of ground-level storage/workshop space; second hangar (1,632 SF) built in 2014.
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79 Styles Way Lagrangeville, NY 12540
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Stat Estimate
This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all similar sales ($/sqft) are above this value
Range-to: 75% of all similar sales ($/sqft) are below this value
AI Estimate
This method estimates value based on AI market estimation of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all estimations ($/sqft) are above this value
Range-to: 75% of all estimations ($/sqft) are below this value
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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79 Styles Way Lagrangeville, NY 12540
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79 Styles Way, Lagrangeville, NY
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Real Estate License ID: NY 30LI0772064
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