Redevelopment Opportunity on Route
For Sale
Contact for pricing
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 Market3454
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: Aug 21
Last Checked: Aug 31 at 10:32PM
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
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 = 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
$203,876
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
5.10%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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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.
