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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    66 Middlebush Rd Wappingers Falls, NY 12590

    • Office buildings
    • 20,000 SF
    • 2.09 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3184861
    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

    • StartNew Medical, P.C. / Pain Management Physician
    • Anthony Zammiello, DC / Chiropractor
    • Zammiello Family Chiropractic / Chiropractor
    • DeTullio Chiropractic / Chiropractor / Health Consultant
    • Yalanda Howard / Nurse Practitioner

    Property Details for 66 Middlebush Rd

    Year built
    1986
    Lot size
    2.09 lot acres
    Property size
    20,000 SF
    Zone code
    HB
    Property type
    Office buildings
    APN
    135689 6157-02-608885-0000
    APU
    9223372036854775807

    Description

    This three-story, 30,000-square-foot Class B office building, located at 66 Middlebush Road in Wappingers Falls, NY 12590, offers a variety of suite sizes perfect for executive, medical, creative, or traditional office uses. The property boasts 2.09 acres of land and features 12 suites, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 20,000 square feet. Currently, 2,900 square feet of space is available. The building includes one elevator, ample parking, and is conveniently located on Route 9, at the highly visible intersection of Middlebush Road and Myers Corner Road (CR-93). The property benefits from oversized windows, an attractive lobby, municipal sewer, water, and gas services. Its Business Highway (BH) zoning makes it highly desirable. Commuters will appreciate its proximity to the Metro-North New Hamburg Station, just 2.5 miles away. This well-maintained building offers an excellent opportunity for businesses seeking a prominent location with easy access to major transportation routes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,099,000
      Market price range: $1.37M - $3.61M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,230,000
      Current use
      AUTO REPAIR, GARAGE
      $3,210,000
      Change: +44% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,760,000
      Change: +24% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,195,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wappingers Falls
    County
    Dutchess
    State
    New York
    Longitude
    -73.9087
    Latitude
    41.5881
    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
    $30,566
    $1,000,000
    $1,415,000
    $2,415,000
    -
    $1,000,000
    $1,415,000
    $2,415,000

    Comparable in this City

    • Value Estimation
      $1,810,000
      42,336 SF

      29-31 Marshall Rd

      OFFICE BUILDING • 42,336 SF
      29-31 Marshall Rd, Wappingers Falls, NY 12590
      View Details
    • Value Estimation
      $4,085,000
      18,688 SF

      1147 Rte 9th 9

      PROFESSIONAL BUILDING • 18,688 SF
      1147 Rte 9th 9, Wappingers Falls, NY 12590-4916
      View Details
    • Value Estimation by Request
      5,940 SF

      1376 Rte 9th 9

      OFFICE BUILDING • 5,940 SF
      1376 Rte 9th 9, Wappingers Falls, NY 12590-4456
      View Details
    • Value Estimation
      $585,000
      7,360 SF

      765-767 Sergeant Palmateer Way

      OFFICE BUILDING • 7,360 SF
      765-767 Sergeant Palmateer Way, Wappingers Falls, NY 12590
      View Details
    • Value Estimation
      $7,215,000
      219,252 SF

      169 Myers Cors Rd

      OFFICE BUILDING • 219,252 SF
      169 Myers Cors Rd, Wappingers Falls, NY 12590-3867
      View Details
    • Value Estimation by Request
      6,336 SF

      2622 Ss Ave

      OFFICE BUILDING • 6,336 SF
      2622 Ss Ave, Wappingers Falls, NY 12590-2753
      View Details

    Similar Nearby for Sale

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      Professional Office Building For Sale

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      Route 9 Office Building Investment

      30,000 SF Medical/Executive Office
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      Prime Wappingers Falls Storefront

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      Executive Office Building, Wappingers Falls

      Prime Route 9 location, high ROI potential.
      1136 Us Highway 9, Wappingers Falls, NY 12590
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      Wappingers Falls Retail Center

      High-traffic retail investment opportunity.
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      View Details
    • $4,000,000
      7.60 Acres

      Route 9 Retail Redevelopment Opportunity

      High-yield retail/development site in Wappingers Falls, NY
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    Similar Nearby for Lease

    • $15 SF/Yr
      59,233 SF

      Summerlin Plaza: Office Suites Available

      Dutchess County office space, multiple suites.
      942 Ny-376, Wappingers Falls, NY 12590
      View Details
    • $30 SF/Yr
      25,000 SF

      Patriots Park: Route 9 Retail/Office

      High-visibility retail & office spaces available.
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      View Details
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      87,120 SF

      Wappingers Falls Office Suite

      Office suite with kitchen in multi-business complex for rent.
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      View Details
    • $1,500 /Mo
      87,120 SF

      Wappingers Falls Commercial Space Available

      Office, retail, and flex space in Wappingers Falls.
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    • $3,900 /Mo

      Route 9 Office/Retail Space

      Premier office/retail space with high visibility and ample parking.
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      View Details
    • $1,500 /Mo
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      Wappingers Falls Professional Office Space

      Well-maintained office with treatment rooms, ideal for professional uses.
      187 New Hackensack Rd, Wappingers Falls, NY 12590
      View Details
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    66 Middlebush Rd
    Wappingers Falls, NY 12590
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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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