Log In/Sign Up
Your email has been sent.
347 Main St
Poughkeepsie, NY 12601
347 Main Poughkeepsie CBD · Office Property For Sale
Investment Highlights
- Located in future Downtown Business Improvement District - Poughkeepsie, N.Y. - Dutchess County's Seat
- Historic Bank Building with Oversized Lot
- Cash-Flowing Asset with Leasing and Development Upside
- City of Poughkeepsie: 2025 Winner $10,000,000 NYS Downtown Revitalization Grant
- Federal Opportunity Zone Benefits Available
- Investment-Grade Tenant (US Government)
Executive Summary
HVNY Commercial Team @KW is pleased to exclusively market 347 Main Street, Poughkeepsie - a multi-tenant retail/office asset on 1.17ac with leasing and development upside in a growing Central Business District.
The subject property includes one of three federal bankruptcy courthouses in the Southern District of New York, guaranteed by the United States Government (S&P Credit Rating: AA+). The lease commenced in 2005 and was recently extended for an additional 10 years thru 2034.
Though some of the 80+ surface lot parking spaces are dedicated to the court, a large majority of the lot could be developed into an apartment building or hotel with up to 7 stories.
Recently Renewed 10-Year Lease
Upside Available through Leasing and Development
Opportunity Zone – Potential to Defer Capital Gains and Sell with Tax Free Appreciation
1.17 ACRES CORNER LOT – One of the Largest Lots in the Poughkeepsie CBD
Rare 80+ Parking Spaces on Main Street
Convenient Nearby Mass Transit (Amtrak, Metro North, Dutchess County Bus Route)
Attractive Credit: US Government (AA+ Credit Rating) + Secured Leaseback (Rent in Escrow)
The subject property includes one of three federal bankruptcy courthouses in the Southern District of New York, guaranteed by the United States Government (S&P Credit Rating: AA+). The lease commenced in 2005 and was recently extended for an additional 10 years thru 2034.
Though some of the 80+ surface lot parking spaces are dedicated to the court, a large majority of the lot could be developed into an apartment building or hotel with up to 7 stories.
Recently Renewed 10-Year Lease
Upside Available through Leasing and Development
Opportunity Zone – Potential to Defer Capital Gains and Sell with Tax Free Appreciation
1.17 ACRES CORNER LOT – One of the Largest Lots in the Poughkeepsie CBD
Rare 80+ Parking Spaces on Main Street
Convenient Nearby Mass Transit (Amtrak, Metro North, Dutchess County Bus Route)
Attractive Credit: US Government (AA+ Credit Rating) + Secured Leaseback (Rent in Escrow)
Property Facts
Sale Type
Investment
Property Type
Building Size
33,421 SF
Building Class
B
Year Built/Renovated
1860/2005
Price
$4,500,000
Price Per SF
$134.65
Percent Leased
74%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
11,140 SF
Building FAR
0.66
Lot Size
1.17 AC
Opportunity Zone
Yes
Zoning
PID-A - Poughkeepsie Innovation District - Up to 7 Stories - Retail, Office, Medical, Apartments
Parking
80 Spaces (2.39 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Banking
- Bus Line
- Commuter Rail
- Fenced Lot
- Security System
- Signage
- Air Conditioning
Property Taxes
| Parcel Number | 131300-6162-78-146072-0000 | Improvements Assessment | $3,349,000 |
| Land Assessment | $151,000 | Total Assessment | $3,500,000 |
Property Taxes
Parcel Number
131300-6162-78-146072-0000
Land Assessment
$151,000
Improvements Assessment
$3,349,000
Total Assessment
$3,500,000
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
