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1 Pine Street Spur 12,000 SF Office Building Poughkeepsie, NY 12601 $6,250,000 ($520.83/SF) 6.27% Cap Rate
Investment Highlights
- Leased To Nuvance Health / Northwell Health, An Investment-Grade Healthcare Credit Tenant (S&P Rating: A-
- Ideally Located Across From Vassar Brothers Medical Center, A 349-Bed Regional Hospital
- Tenant Has Successfully Operated At The Property For 15 Years, Reflecting Strong Site Performance And Long-Term Occupancy Stability
- 3% Annual Rent Escalations Provide A Built-In Hedge Against Inflation
- Ample On-Site Parking With 65 Surface Spaces, Offering An Excellent 5.4/1,000 SF Parking Ratio
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
12,000 SF
Building Class
B
Year Built/Renovated
1980/2024
Price
$6,250,000
Price Per SF
$520.83
Cap Rate
6.27%
NOI
$392,058
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
6,000 SF
Building FAR
0.16
Lot Size
1.70 AC
Zoning
R-D
Parking
65 Spaces (5.42 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Northwell Health
- Health Care and Social Assistance
- -
- -
- Double Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Northwell Health | Health Care and Social Assistance | - | - | Double Net | - |
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 131300-6061-35-791838-0000 | Improvements Assessment | $2,007,900 |
| Land Assessment | $226,600 | Total Assessment | $2,234,500 |
Property Taxes
Parcel Number
131300-6061-35-791838-0000
Land Assessment
$226,600
Improvements Assessment
$2,007,900
Total Assessment
$2,234,500
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Contact the Sale Advisor
1 Pine Street Spur