Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    40 Leonards Dr Montgomery, NY 12549-2643

    • Warehouses
    • 100,300 SF
    • 22.50 lot acres
    OFF-MARKET
    Value Estimations
    $8,215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4817172
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • ARCO D/B Construction Trailer - MW119 Mondelez / Corporate Office
    • Mondelēz International / Industrial Manufacturer / Production Facility

    Property Details for 40 Leonards Dr

    Year built
    2018
    Lot size
    22.50 lot acres
    Property size
    100,300 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    334289 30-1-73.22
    APU
    3342893017322

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $8,680,000
      Current use
      INDUSTRIAL (GENERAL)
      $9,465,000
      Change: +9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Orange
    State
    New York
    Longitude
    -74.1926
    Latitude
    41.5184
    CBSA code
    39100
    CBSA name
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $0.00
    $402,500
    $5,577,500
    $5,980,000
    -
    $958,334
    $13,279,766
    $14,238,100

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      27 New Hvn Dr

      BULK STORAGE, TANKS • 1,200 SF
      27 New Hvn Dr, Montgomery, NY 12549-2603
      View Details
    • Value Estimation by Request
      2,037 SF

      2 Spg St

      WAREHOUSE, STORAGE • 2,037 SF
      2 Spg St, Montgomery, NY 12549
      View Details
    • Value Estimation
      $6,670,000
      760,927 SF

      601 Neelytown Rd

      WAREHOUSE, STORAGE • 760,927 SF
      601 Neelytown Rd, Montgomery, NY 12549-2844
      View Details
    • Value Estimation
      $795,000
      9,800 SF

      4 Hadden Dr

      WAREHOUSE, STORAGE • 9,800 SF
      4 Hadden Dr, Montgomery, NY 12549-2645
      View Details
    • Value Estimation
      $510,000
      7,000 SF

      116 Neelytown Rd

      WAREHOUSE, STORAGE • 7,000 SF
      116 Neelytown Rd, Montgomery, NY 12549-2820
      View Details
    • Value Estimation by Request
      3,459 SF

      1122 State Rte 17k

      WAREHOUSE, STORAGE • 3,459 SF
      1122 State Rte 17k, Montgomery, NY 12549-2215
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      250,920 SF

      Warehouse with Dock and Truck Doors

      250,920 SF warehouse with multiple loading docks and parking.
      171 Bracken Rd, Montgomery, NY 12549
      View Details
    • $6,500,000

      Functional Warehouse in Prime Location

      Warehouse in excellent condition, ready for immediate occupancy and expansion.
      118 Bracken Rd, Montgomery, NY 12549
      View Details
    • $449,999

      Versatile Commercial Property in Montgomery

      Commercial property with expansion potential, ideal for diverse business ventures.
      120 Bracken Rd, Montgomery, NY 12549
      View Details
    • $7,499,999

      New Industrial Property with Income

      New industrial building with high ceilings and residential income.
      2265 State Route 17 K, Montgomery, NY 12549
      View Details
    • Contact for pricing
      41,520 SF

      Approved Self-Storage Development Opportunity

      Approved self-storage development site with high visibility and traffic.
      674 New York 17K, Montgomery, NY 12549
      View Details
    • $599,999
      1,485 SF

      Montgomery Industrial Property - Huge Potential

      Prime location, versatile industrial building, expansion opportunity.
      120 Bracken Rd, Montgomery, NY 12549
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      89,900 SF

      Industrial Facility with 26 Docks

      89,960 SF industrial facility built in 2019 with 26 docks.
      105 Bracken Rd, Montgomery, NY 12549
      View Details
    • $10 SF/Yr

      Warehouse Space with Loading Docks

      19,614 SF warehouse with loading docks and ample parking.
      181 Boyd St, Montgomery, NY 12549
      View Details
    • $12 SF/Yr
      17,820 SF

      I-84/I-87 Warehouse For Lease

      17,820 SF Warehouse, Excellent Location
      136 Bracken Rd, Montgomery, NY 12549
      View Details
    • $1,900 /Mo
      10,799 SF

      Versatile Commercial Unit on 17K

      Adaptable commercial unit with high visibility on State Route 17K.
      1 Un School Rd Unit, Montgomery, NY 12549
      View Details
    • $5,500 /Mo

      Versatile Shop Space in Montgomery

      Shop space with high visibility and accessibility on Route 17K.
      66-68 Ward St, Montgomery, NY 12549
      View Details
    • Contact for pricing
      8,500 SF

      Truck Terminal with Cross Dock

      8,500 SF truck terminal featuring a cross dock.
      645 Neelytown Rd, Montgomery, NY 12549
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    40 Leonards Dr
    Montgomery, NY 12549-2643
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!