347 Main Street, Poughkeepsie, NY, 12601
$4,800,000
Office
Commercial
Details
ML#: 912474
- Sale or Rent:Sale
- Year Built: 1860
- Taxes: $113,888
- Status:Active
Description
347 Main Street, Poughkeepsie is 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. PRO FORMA NOI NEARLY $500, 000 BUILD 60-80 APARTMENTS OVER PARKING LOT AS-OF-RIGHT UP TO 100 APARTMENTS WITH AFFORDABLE HOUSING COMPONENT
More Property Details
Lot Size: 1.17
Parking Spaces: Yes
Parking Spaces: 80
Parking Facilities: Parking Lot, Private
Stories: 2
Heat: Forced Air, Natural Gas
A/C: Central Air
Water: Public
Sewer: Public Sewer
Taxes: $113,888
Zoning: Innovation District
Listing Information provided courtesy of
KW MidHudson
914-962-0007