322 Main St 7,600 SF 100% Leased Retail Building Poughkeepsie, NY 12601 $625,000 ($82.24/SF) 8.86% Cap Rate
INVESTMENT HIGHLIGHTS
- Located in Poughkeepsie Central Business District
- Ideal for Investor or Owner-Occupier (HUGE Ground-Floor Restaurant Space)
- Fully Occupied 4-story 4-unit Walk-up
EXECUTIVE SUMMARY
Located in Poughkeepsie Central Business District, this 4-story mixed-use building has slowly undergone renovations over the past 10 years by the owner and prior ground-floor tenant. Building features two commercial units (ground-floor lounge, 2nd floor tattoo parlor) and two residential units (3rd floor 2BR, 4th floor 2BR) with a full basement, fully occupied, relatively new tenants with short-term leases (1-3 years). Updates include a new roof in 2021, separated electric/gas/water meters and window A/C units.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,600 SF
Building Class
C
Year Built
1920
Price
$625,000
Price Per SF
$82.24
Cap Rate
8.86%
NOI
$55,378
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.49
Lot Size
0.07 AC
Opportunity Zone
Yes
Zoning
PID - Poughkeepsie Innovation District - Ground-Floor Retail/Office/Medical, Upper Floors Commercial or Apartments
Frontage
20’ on 322 Main St
AMENITIES
- Air Conditioning
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
CONTACT
-
Don Minichino -
Keller Williams Realty Partners
