Redevelopment Opportunity on Route
For Sale
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1105 - 1115 Route 9, Wappingers Falls, NY 12590
Retail plaza with redevelopment potential on 7.6 acres.
Property Size15,934 SF
Lot Size7.60 Acres
Price / SF$251.04
Days on Market3501
Property Features for 1105 - 1115 Route 9
General Information
Standard status
Active
Size
15,934 SF
Lot size
7.60 Acres
Property subtype
Retail, Office, Hospitality, Mixed Use, Land, Senior Living
Zoning
HB
Occupancy
25%
Lease Type
Modified Gross
Building Details
Year Built
1990
Stories
1
Tenancy
Multi
Listing Agency:
McGrath Realty Inc
Listed By:
Mike Fitzgerald · License #NY 10401228039
Source:
Crexi
Added: Mar 23, 2017
Changed: Oct 8
Last Checked: Oct 20 at 8:59PM
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 McGrath Realty Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents a redevelopment opportunity with existing retail space. The former box retail plaza includes 15,934 square feet of retail space on 7.6 acres. Additional improvements feature multiple year-round canopy structures and a paved parking lot. The property is situated on Route 9, a major retail hub, surrounded by retail chain stores, plazas, fast food establishments, automotive dealerships, professional offices, recreational attractions, hotels, multi-family housing, warehouses, and self-storage properties. The property also induces current income and has two additional short-term retail tenants.
Key Highlights
- Exceptional redevelopment potential due to former retail plaza status.
- Located on the "Golden Mile" of Route 9, a major retail hub.
- Current income from existing retail tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,876
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,077,520
$4.1M
Cap Rate 7%
$2,912,514
$2.9M
Cap Rate 9%
$2,265,289
$2.3M
Market Conditions
NOI Build-Up for 15,934 SF
Gross rent
$304.0K $19.08/SF
− Vacancy
−$12.8K −$0.80/SF
EGI
$291.3K $18.28/SF
− OpEx
−$87.4K −$5.48/SF
NOI
$203.9K $12.80/SF
Area
Dutchess County, NY
Vacancy
4.20%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,077,520
Cap Rate 7%
$2,912,514
Cap Rate 9%
$2,265,289
Alternative Uses
Best Use
Retail
$2.91M
$2.55M – $3.40M
NOI $203,876 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,749 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
7k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 56%
Shops & Services 35%
Home Improvements & Furnishings 9%
Valvoline Instant Oil Change
Shops & Services
2,195 visits/mo
0.3 miles
Talbots
Apparel
1,241 visits/mo
0.0 miles
Jos. A. Bank Clothiers Inc.
Apparel
1,134 visits/mo
0.0 miles
Chico's
Apparel
900 visits/mo
0.0 miles
J. Jill
Apparel
823 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Shopping center - Retail plaza with redevelopment potential on 7.6 acres.
Where is this shopping center located?
The property is located at 1105 - 1115 Route 9 Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Exceptional redevelopment potential due to former retail plaza status.; Located on the "Golden Mile" of Route 9, a major retail hub.; Current income from existing retail tenants.
