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    260-262 Route 9 Fishkill, NY 12524

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    260-262 Route 9 Fishkill, NY 12524

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    • Apartment buildings
    • 3,500 SF
    • 1.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 260-262 Route 9

    Year built
    1930
    Lot size
    1.70 lot acres
    Property size
    3,500 SF
    Property type
    Apartment buildings

    Description

    This well-maintained four-unit apartment building in Fishkill, NY, presents a lucrative investment opportunity. Located at 260-262 Route 9, this 3,500 square foot property sits on a 1.7-acre lot and boasts a strong 90% occupancy rate. Built in 1930 and extensively renovated in 2008, the building offers eight parking spaces and features a new septic system and a roof that's approximately 15 years old. Municipal water is available. The property generates a substantial net operating income (NOI) of $59,604, resulting in a compelling 9.17% cap rate. Each unit is priced at $162,500, with an overall asking price of $650,000 ($185.71 per square foot). There is potential for additional income; two garages could generate an estimated $600 per month in rental income. The property is available for viewing on June 15th between 12:00 PM and 3:00 PM. This is a cash-flowing multifamily investment ideal for discerning buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fishkill
    County
    Dutchess
    State
    New York
    Longitude
    -73.8972
    Latitude
    41.5072

    Comparable in this City

    • Value Estimation by Request
      3.54 Acres

      127133 Old Route 9

      Multifamily properties • 3.54 Acres
      127133 Old Route 9, Fishkill, NY 12524
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    • Value Estimation
      $980,000
      6,480 SF

      1094 Rte 9th 9

      MOBILE HOME PARK, TRAILER PARK • 6,480 SF
      1094 Rte 9th 9, Fishkill, NY 12524-2549
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    • Value Estimation
      $1,000,000
      6,480 SF

      121 Cooper Rd

      MOBILE HOME PARK, TRAILER PARK • 6,480 SF
      121 Cooper Rd, Fishkill, NY 12524-2418
      View Details
    • Value Estimation
      $8,115,000
      308.79 Acres

      15 Rte 9th, Unit 111

      CAMPGROUND, RV PARK • 308.79 Acres
      15 Rte 9th, Fishkill, NY 12524-2970
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    • Value Estimation by Request
      39.10 Acres

      Us-9

      Land • 39.10 Acres
      0 Us-9, Fishkill, NY 12524
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    • Value Estimation by Request
      2.01 Acres

      88 Smithtown Rd

      Land • 2.01 Acres
      88 Smithtown Rd, Fishkill, NY 12524
      View Details

    Similar Nearby for Sale

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      Mobile Home Park Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Rent

      2,467 SF office space coming available for rent.
      584 Route 9, Fishkill, NY 12524
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      5,488 SF

      Former Restaurant Space Available

      Freestanding 5,488 SF restaurant space for lease.
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    • $20 SF/Yr
      11,934 SF

      Renovated Medical Office Space Available

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    Fishkill, NY 12524
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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