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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Distribution centers
173 Dosen Rd Middletown, NY 10940-6370
Individually Owned
7-yr Hold
Property ID
US63-4565953
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2016
Total area
5,992 SF
Lot
114.1 ac (4,970,196 SF)
Zoning code
RA
APN
335200 13-1-7.2
UPID
US63-4565953
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
$915k
Comparable Approach
Comparable
$863k
Blend (final)
Blend
$670k
Owner & transaction history
Christopher G Michaels · 7 yrs held
Christopher G Michaels
since 2018
7 recorded transactions
Zoning & alternative use
RA · Middletown, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+92.9%
Commercial (general)
$920,000
+77.3%
Industrial (general)
$565,000
+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%
$990,000
6.5%
$915,000
7%
$850,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$520,000
Current use
AUTO REPAIR, GARAGE
$1,000,000
Change: +93% · Conversion: Easy
COMMERCIAL (GENERAL)
$920,000
Change: +77% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$565,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$112 / 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
$153,800
Assessed 2023
Previous assessed
$153,800
+0.0% YoY
Assessed land
$98,500
Assessed improvement
$55,300
Land market value
$679,317
Improvement market value
$381,383
Total market value
$1,060,700
Applied tax rate
332,601.0000
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
2016
Heating
HOT WATER
Buildings
2
Stories
1
Rooms
11
Bathrooms
2
Total area
5,992 SF
Lot
114.1 ac (4,970,196 SF)
Zoning code
RA
APN
335200 13-1-7.2
UPID
US63-4565953
Jurisdiction
ORANGE
Zoning & alternative use
RA · Middletown, NY
Zoning RA · permitted uses
RA · 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
$520,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$920,000
INDUSTRIAL (GENERAL)
Est. value
$565,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2016
Heating
HOT WATER
Stories
1
Buildings
2
Rooms
11
Bathrooms
2
Lot
114.1 ac
Current owner
From public records · entity-resolved
Christopher G Michaels
Individual
Mailing address
428 HARVARD RD, BOLTON, MA 01740-1066
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2019
—
Valley Agriceuticals R & E Hldgs
—
Deed
related
$2,500,000 · Stephen Ashekian
Aug 6, 2018
$70,000
Christopher G Michaels
Valley Agriceuticals R/e Hldgs
Grant Deed
—
Sep 25, 2015
—
Valley Agriceuticals R & E Holdi
Gillian Ortiz
Quit Claim Deed
related
—
Sep 23, 2015
—
Valley Agriceuticals R & E Holdi
Remy A Johnson
Quit Claim Deed
related
—
Sep 14, 2015
—
Valley Agriceuticals R & E Holdi
Josephine Adler
Quit Claim Deed
related
—
Jun 10, 2015
$230,000
Valley Agriceuticals R & E Holdi
Frank Costello
Quit Claim Deed
related
—
Jun 10, 2015
$119,902
Valley Agriceuticals R & E Holdi
Carol Vanbergen
Quit Claim Deed
related
—
Jun 10, 2015
$71,766
Valley Agriceuticals R & E Holdi
Eileen Adler
Quit Claim Deed
related
—
Jun 10, 2015
$38,332
Valley Agriceuticals R & E Holdi
Philip Costello
Quit Claim Deed
related
—
Sep 25, 2012
—
Costello,frank
Victoria Costello
Quit Claim Deed
related
—
—
—
Valley Agriceuticals R & E Hldgs
—
Deed Of Trust
related
$2,500,000 · Stephen Ashekian
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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