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    Property profile & analytics

    40 Vassar Rd Poughkeepsie, NY 12603

    • Strip malls
    • 29,884 SF
    • 3.32 lot acres
    For Sale
    View listing
    $199,999
    Last Sale
    Jan 17, 2020
    $3,812,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1085363
    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

    • Gino's Pizzeria Red Oaks Mill / Pizza Restaurant / Italian Restaurant
    • Rite Aid Pharmacy / Pharmacy
    • Leclerc's Martial Arts / Martial Arts School
    • Monkey Maghees / Bar
    • Red Oaks Mill Wine & Liquor / Liquor Store

    Property Details for 40 Vassar Rd

    Year built
    1970
    Lot size
    3.32 lot acres
    Property size
    29,884 SF
    Zone code
    ROMNSC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    134689 6260-03-497247-0000
    APU
    9223372036854775807

    Description

    This exceptional retail property, a former Rite Aid, presents a significant opportunity in Poughkeepsie, NY. Located at 40 Vassar Rd, this 20,174 square foot end-unit space boasts convenient on-site parking and benefits from its high-visibility placement on a heavily trafficked road. The property is classified as Class B and is categorized as a single-tenancy retail space, previously used as a grocery store and convenience store. Its strategic location offers unparalleled access to a substantial population base, including students and faculty from several prominent educational institutions. These institutions include Vassar College, Marist College, Bard College, Dutchess Community College, the Culinary Institute of America, SUNY New Paltz, SUNY Orange, and SUNY Ulster. The area also features a strong presence of private and religious schools, such as Faith Christian Academy, Oakwood Friends School, Our Lady of Lourdes High School, and St. Martin de Porres. Furthermore, the property is conveniently situated near several public schools, including Spackenkill High School, Hagan Elementary School, Orville A. Todd Middle School, and Nassau Elementary School. This prime location, combined with the substantial square footage and ample parking, makes this property an ideal investment for a variety of retail businesses seeking a strong foothold in a thriving community within Dutchess County. The property's zip code is 12603.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,205,000
      ML approach
      $2,875,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $3,725,000
      COMMERCIAL (GENERAL)
      $2,945,000
      AUTO REPAIR, GARAGE
      $2,510,000
      RETAIL STORES
      $2,285,000
      OFFICE BUILDING
      $2,235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Poughkeepsie
    County
    Dutchess
    State
    New York
    Longitude
    -73.8758
    Latitude
    41.653
    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
    2020
    $177,866
    $787,000
    $2,079,500
    $2,866,500
    -
    $787,000
    $2,079,500
    $2,866,500

    Comparable in this City

    • Value Estimation
      $790,000
      24,020 SF

      621 Dutchess Tpke, Unit 645

      SHOPPING CENTER, STRIP CENTER • 24,020 SF
      621 Dutchess Tpke, Poughkeepsie, NY 12603-1920
      View Details
    • Value Estimation by Request
      4,800 SF

      30-32 Vassar Rd

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      30-32 Vassar Rd, Poughkeepsie, NY 12603
      View Details
    • Value Estimation by Request
      7,004 SF

      712 Dutchess Tpke

      SHOPPING CENTER, STRIP CENTER • 7,004 SF
      712 Dutchess Tpke, Poughkeepsie, NY 12603-6427
      View Details
    • Value Estimation by Request
      5,850 SF

      250 Hooker Ave

      SHOPPING CENTER, STRIP CENTER • 5,850 SF
      250 Hooker Ave, Poughkeepsie, NY 12603-3012
      View Details
    • Value Estimation
      $930,000
      19,200 SF

      425 Manchester Rd

      SHOPPING CENTER, STRIP CENTER • 19,200 SF
      425 Manchester Rd, Poughkeepsie, NY 12603-2579
      View Details
    • Value Estimation
      $610,000
      28,378 SF

      43 Vassar Rd

      SHOPPING CENTER, STRIP CENTER • 28,378 SF
      43 Vassar Rd, Poughkeepsie, NY 12603-5458
      View Details

    Similar Nearby for Sale

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      Retail property for sale in Poughkeepsie, New York.
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    • $265,000
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      Poughkeepsie Retail Storefront/Restaurant Opportunity

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    • $225,000
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      Prime Poughkeepsie Retail Opportunity

      Established Pizzeria with Equipment
      47 Vassar Rd, Poughkeepsie, NY 12603
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      View Details
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      Professional Office/Retail Space Available

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    40 Vassar Rd
    Poughkeepsie, NY 12603
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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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