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Property profile & analytics
FOR LEASE
Office buildings
66 Middlebush Rd, Wappingers Falls, NY 12590
Entity Owned
29-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-3184861
For Lease
1 / 30
$24 SF/Yr
66 Middlebush Rd, Wappingers Falls, NY 12590
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
20,000 SF
Lot
2.09 ac (91,040 SF)
Zoning code
HB
APN
135689 6157-02-608885-0000
UPID
US63-3184861
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
Current use
Occupant on record · Public records
-
StartNew Medical, P.C. Physician
-
Anthony Zammiello, DC Alternative Medicine Practice
-
Zammiello Family Chiropractic Alternative Medicine Practice
-
DeTullio Chiropractic Alternative Medicine Practice
-
Yalanda Howard Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$2.26M
Owner & transaction history
EXECUTIVE SQUARE ASSOCIATES
EXECUTIVE SQUARE ASSOCIATES
Zoning & alternative use
HB · Wappingers Falls, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.2M
+43.9%
Commercial (general)
$2.8M
+23.7%
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 Wappingers Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wappingers Falls 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
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
Blend value · Realmo final
$2.26M
Range $2.03M – $2.48M · ±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
$113 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$30,566
Tax year 2020
Assessed value
$2,415,000
Assessed 2023
Previous assessed
$2,300,000
+5.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$1,000,000
Assessed improvement
$1,415,000
Land market value
$1,000,000
Improvement market value
$1,415,000
Total market value
$2,415,000
Applied tax rate
135,601.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1986
Heating
NONE
Stories
3
Bathrooms
2
Total area
20,000 SF
Lot
2.09 ac (91,040 SF)
Zoning code
HB
APN
135689 6157-02-608885-0000
UPID
US63-3184861
Jurisdiction
DUTCHESS
Zoning & alternative use
HB · Wappingers Falls, NY
Zoning HB · permitted uses
HB · Wappingers Falls, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wappingers Falls. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1986
Heating
NONE
Stories
3
Bathrooms
2
Lot
2.09 ac
Current owner
From public records · entity-resolved
EXECUTIVE SQUARE ASSOCIATES
Individual
Free & Clear · 0 yrs held
Mailing address
110 E 40TH ST RM #903, NEW YORK, NY 10016-1809
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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