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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
Current use
Occupant on record · Public records
-
Physician
-
Alternative Medicine Practice
-
Alternative Medicine Practice
-
Alternative Medicine Practice
-
Physician
Location
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
Zoning & alternative use
HB · Wappingers Falls, NY
Top alternative use upside
Auto repair, garage
$3.2M
+43.9%
Commercial (general)
$2.8M
+23.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$2.26M
Value range
$2.03M – $2.48M
±10% around blend
Estimated value / SF
$113 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
30
Income certainty
100
$2.03M
blend $2.26M
$2.48M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
20,000 SF
Lot area
2.09 ac
Year built
1986
Stories
3
APN
135689 6157-02-608885-0000
Zoning
HB
Assessed value
$2,415,000
Annual tax
$30,566
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$30,566
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$2.59M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
18.9 mi away · 24,555 SF
24.6 mi away · 23,750 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.26M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 59 sales
$112
+1%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $113/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+44%
vs current-use indication
Commercial (general)
Office Building · current use
Warehouse, Storage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$6.86M
Move the market yield to see immediate price impact.
Value / SF
$343
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$432k
$8.64M
$6.17M
$4.80M
$480k
$9.60M
$6.86M
$5.34M
$528k
$10.56M
$7.55M
$5.87M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$2.35M
15.7 mi · Nov 2025 · $123/SF
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, NYZoning HB · permitted uses
HB · Wappingers Falls, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Stories
3
Bathrooms
2
Lot
2.09 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
HB
Jurisdiction
Wappingers Falls, NY
Recorded code
HB
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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