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$ 4,800,000
Est. payment | /mo
1.17 Acres Lot
$ 4,800,000
Est. payment | /mo
1.17 Acres Lot
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 912474
Rental Info No
Year Built 1860
Annual Tax Amount $113,888
Lot Size 1.170 Acres
Acres 1.17
Property Sub-Type Office
Source onekey2
Property 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
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
Location
State NY
County Dutchess County
Rooms
Basement Finished, Full
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Lot, Private
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Trash Collection Private, Water Connected
Total Parking Spaces 80
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
Listed by KW MidHudson • Don Minichino
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