1136 Us-9 Wappingers Falls, NY 12590

Property Details for 1136 Us-9

Lot size

2.05 lot acres

Property size

20,035 SF

Property type

Office Properties & Spaces

Description

This exceptional two-story, 20,000 square foot executive office building is strategically located on Route 9 in Wappingers Falls, New York. Boasting 95% occupancy with ten tenants, this Class B property offers significant upside potential. The building, renovated in 2024, features 20,035 total square feet on a 2.05-acre lot, providing ample parking. Currently generating a NOI of $162,646, with a pro-forma NOI of $319,310, this presents a compelling 5.51% cap rate and a pro-forma cap rate of 10.82%. The asking price is $2,950,000, or $295,000 per unit, and $147.24 per square foot. The property is zoned HB and enjoys high visibility and easy access to Route 9, placing it within minutes of Interstate 84, hospitals, colleges, the iPark Industrial Center, IBM, Amazon, and numerous residential areas, shopping centers, and restaurants. Its prime location near popular tourist destinations like the Roosevelt and Vanderbilt Mansions further enhances its appeal. This is a rare opportunity to acquire a substantial, well-established office building in a thriving market with a strong tenant base and significant potential for increased profitability. The property's current occupancy is 95%, with a projected full occupancy date of November 12, 2024.

Location Insight

City

Wappingers Falls

County

Dutchess

State

New York

Longitude

-73.9055

Latitude

41.5657