322 Main St

7,600 SF 100% Leased Retail Building Poughkeepsie, NY 12601 $625,000 ($82/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
Storefront Retail/Residential
Building Size
7,600 SF
Building Class
C
Year Built
1920
Price
$625,000
Price Per SF
$82
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 FT on 322 Main St

AMENITIES

  • Air Conditioning
Walk Score®
Very Walkable (78)

NEARBY MAJOR RETAILERS

Chase Bank
Rent-A-Center
Golden Krust
TD Banknorth
  • Listing ID: 33130701

  • Date on Market: 9/10/2024

  • Last Updated:

  • Address: 322 Main St, Poughkeepsie, NY 12601