Retail Shopping Center For
For Sale
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1289 South Rd, Wappingers Falls, NY 12590
Retail shopping center with U.S. Route 9 frontage and visibility.
Property Size19,500 SF
Price / SF$158.97
Days on Market1714
Property Features for 1289 South Rd
General Information
Standard status
Active
Size
19,500 SF
Property subtype
Retail
Occupancy
90%
Building Details
Tenancy
Multi
Listing Agency:
CR Properties Group LLC
(845) 485-3100
Listed By:
Thomas Cervone · License #NY 49CE0922865
Source:
Crexi
Added: Dec 21, 2021
Changed: Aug 17
Last Checked: Aug 30 at 8:25PM
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.
This retail shopping center is located off of U.S. Route 9 in Wappingers Falls, NY. The location is centrally situated in a commercial, retail, and residential corridor, near Dutchess Community College South. Transportation routes include Interstate 84 and the Newburgh-Beacon Bridge. The property benefits from frontage and visibility on U.S. Route 9. The location is near the New Hamburg Metro-North Railroad Station to Grand Central and Adams Fairacre Farms. U.S. Route 9 from NYS Route 52 to County Route 28 has an AADT of 32,553. Co-tenants include Villa Picante, Tri-State Hearing LLC, Allset Consultants, Royalty Nail Salon, Joe Christiano's Pizza, 1800-GotJunk, Amy Gallagher Photography, Mel Mel Dental, and KBL Corp. The property contains 19,500 square feet.
Key Highlights
- U.S. Route 9 Frontage & Visibility
- Centrally located in a commercial, retail, and residential corridor
- Near New Hamburg Metro‑North Railroad Station to Grand Central
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
$249,503
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
8.05%
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%
$4,990,060
$5.0M
Cap Rate 7%
$3,564,329
$3.6M
Cap Rate 9%
$2,772,256
$2.8M
Market Conditions
NOI Build-Up for 19,500 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
$372.1K $19.08/SF
− Vacancy
−$15.6K −$0.80/SF
EGI
$356.4K $18.28/SF
− OpEx
−$106.9K −$5.48/SF
NOI
$249.5K $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%
$4,990,060
Cap Rate 7%
$3,564,329
Cap Rate 9%
$2,772,256
Alternative Uses
Best Use
Retail
$3.56M
$3.12M – $4.16M
NOI $249,503 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.87M
$5.14M – $6.85M
NOI $410,889 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
184k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 34%
Dining 33%
Groceries 15%
Shops & Services 8%
Kohl's
Apparel
59,787 visits/mo
0.2 miles
Aldi
Groceries
27,624 visits/mo
0.3 miles
Buffalo Wild Wings
Dining
21,567 visits/mo
0.1 miles
Ready Coffee
Dining
19,171 visits/mo
0.2 miles
Burger King
Dining
16,055 visits/mo
0.5 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 shopping center with U.S. Route 9 frontage and visibility.
Where is this shopping center located?
The property is located at 1289 South Rd Wappingers Falls, NY.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: U.S. Route 9 Frontage & Visibility; Centrally located in a commercial, retail, and residential corridor; Near New Hamburg Metro‑North Railroad Station to Grand Central
