17 Market St 8,965 SF 100% Leased Retail Building Poughkeepsie, NY 12601 $1,450,000 ($161.74/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Property is also available for lease
EXECUTIVE SUMMARY
Seize the opportunity to own a distinguished piece of Poughkeepsie's history with this unique limestone building at 17 Market Street. Originally constructed in 1920 as the Bank of New York building, this four-story property offers approximately 15,000 square feet of versatile space, complete with an elevator. The building's historic marble bank facade and original interior vaults add to its distinctive character. Four floors with single-tenant suites ranging from 1,800 to 3,600 square feet, each with dedicated elevator access.
Investment Potential: Poughkeepsie has recently been awarded a 10 million grant through New York's Downtown Revitalization Initiative, aimed at supporting various projects in the downtown corridor. This investment is set to enhance the area's appeal to residents, tourists, and commuters alike. Furthermore, the city's efforts to establish a new Business Improvement District underscore a commitment to revitalizing the downtown area, making this property a promising investment opportunity.
Investment Potential: Poughkeepsie has recently been awarded a 10 million grant through New York's Downtown Revitalization Initiative, aimed at supporting various projects in the downtown corridor. This investment is set to enhance the area's appeal to residents, tourists, and commuters alike. Furthermore, the city's efforts to establish a new Business Improvement District underscore a commitment to revitalizing the downtown area, making this property a promising investment opportunity.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Lease Option
Property Type
Retail
Property Subtype
Building Size
8,965 SF
Building Class
C
Year Built
1920
Price
$1,450,000
Price Per SF
$161.74
Cap Rate
8%
NOI
$116,000
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.57
Lot Size
0.08 AC
Opportunity Zone
Yes
Zoning
PID-C2 - Poughkeepsie Innovation District - Civic Corridor (Retail/Office/Civic/Medical)
Frontage
35’ on Market St
Walk Score®
Very Walkable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 131300-6162-77-038087-0000 | Improvements Assessment | $946,500 |
| Land Assessment | $53,500 | Total Assessment | $1,000,000 |
