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Property profile & analytics
OFF-MARKET
Estimated value
$5,155,000
Distribution centers
103 Tower Dr Middletown, NY 10941-2034
Entity Owned
18-yr Hold
Free & Clear
Property ID
US63-4837863
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2021
Total area
78,670 SF
Lot
5.1 ac (222,156 SF)
Zoning code
ENT-L
APN
335200 41-1-100.1
UPID
US63-4837863
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.35M
Blend (final)
Blend
$5.16M
Owner & transaction history
103 Tower Drive Associates · 18 yrs held
103 Tower Drive Associates
since 2008
4 recorded transactions
Zoning & alternative use
ENT-L · Middletown, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$7.4M
+9.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,810,000
Current use
INDUSTRIAL (GENERAL)
$7,425,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$5.16M
Range $4.64M – $5.67M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$66 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Assessed value
$761,900
Assessed 2023
Previous assessed
$761,900
+0.0% YoY
Assessed land
$91,000
Assessed improvement
$670,900
Land market value
$627,588
Improvement market value
$4,626,912
Total market value
$5,254,500
Applied tax rate
330,900.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2021
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
78,670 SF
Lot
5.1 ac (222,156 SF)
Zoning code
ENT-L
APN
335200 41-1-100.1
UPID
US63-4837863
Jurisdiction
ORANGE
Zoning & alternative use
ENT-L · Middletown, NY
Zoning ENT-L · permitted uses
ENT-L · Middletown, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.8M
INDUSTRIAL (GENERAL)
Est. value
$7.4M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2021
Heating
NONE
Cooling
Yes
Stories
2
Lot
5.1 ac
Current owner
From public records · entity-resolved
103 Tower Drive Associates
Entity
Free & Clear · 18 yrs held
Mailing address
2 PKWY RTE 17TH S, UPPER SADDLE RIVER, NJ 07458
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2022
—
103 Tower Dr Assoc LLC
—
Deed
related
$1,004,934 · State Farm Realty Mtg
Feb 15, 2008
—
103 Tower Drive Associates
751 Route 211 East LLC
Grant Deed
related
—
Jul 6, 2007
$600,000
751 Route 211 East LLC
Api Properties Ny LLC
Grant Deed
—
Jan 17, 2007
$600,000
Api Properties Ny LLC
Wallkill Land Partners
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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