1816 South Rd Wappingers Falls, NY 12590
- Lifestyle centers
- 99,776 SF
- 21.40 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1816 South Rd
- Year built
- 1963
- Lot size
- 21.40 lot acres
- Property size
- 99,776 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 99,776 square foot retail property, located at 1816 South Rd in Wappingers Falls, NY (zip code 12590), presents a compelling investment opportunity. The property, built in 1963 and renovated in 2003, sits on a 21.4-acre lot and boasts a 91% occupancy rate. The center is anchored by Aldi, a credit-rated tenant, and also includes Firestone and Habitat for Humanity Restore. This multi-tenant property generates a substantial net operating income (NOI) of $1,060,033. Situated on Route 9, a major retail corridor in Dutchess County, the center benefits from extremely high traffic counts, approximately 41,000 vehicles daily. The property is further enhanced by its location near Vassar and Marist Colleges. The center features a ground lease and benefits from long-term tenants; over half have occupied the space for more than a decade. There's significant upside potential through lease-up of the remaining 9% vacancy. This Aldi-anchored center is the only discount grocer in the market, providing a unique competitive advantage. The property is shadow-anchored by Kohl's, further solidifying its position within the community. This is a rare opportunity to acquire a well-established, high-performing retail center in a desirable location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wappingers Falls
- County
- Dutchess
- State
- New York
- Longitude
- -73.9125
- Latitude
- 41.5884
