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347 Main Poughkeepsie CBD 347 Main St 33,421 SF Office Building Poughkeepsie, NY 12601 $6,281,640 CAD ($187.95 CAD/SF)
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
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
AMENITIES
- 24 Hour Access
- Banking
- Bus Line
- Commuter Rail
- Fenced Lot
- Security System
- Signage
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Suite 1B is a 2,440SF office space with mostly open floorplan with a private office, restrooms and boardroom. Currently partially demolished, owner will build to suit for long-term tenant. Front entrance on Catherine Street, with private employee entrance off the parking lot.
347 Main Poughkeepsie Suite 1F is a former bank space (yes, still has the vault!) that was most previously used as a medical administrative office. It's mostly open floorplan with five private offices, a large boardroom, private restrooms and basement storage. Needs some light repair here and there, but move-in ready for the most part. Owner will build to suit.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 1B | 2,440 SF | Office | Partial Build-Out | Now |
| 1st Fl-Ste 1F | 6,397 SF | Office | Full Build-Out | Now |
1st Fl-Ste 1B
| Size |
| 2,440 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1st Fl-Ste 1F
| Size |
| 6,397 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 1B
| Size | 2,440 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Suite 1B is a 2,440SF office space with mostly open floorplan with a private office, restrooms and boardroom. Currently partially demolished, owner will build to suit for long-term tenant. Front entrance on Catherine Street, with private employee entrance off the parking lot.
1st Fl-Ste 1F
| Size | 6,397 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
347 Main Poughkeepsie Suite 1F is a former bank space (yes, still has the vault!) that was most previously used as a medical administrative office. It's mostly open floorplan with five private offices, a large boardroom, private restrooms and basement storage. Needs some light repair here and there, but move-in ready for the most part. Owner will build to suit.
PROPERTY TAXES
| Parcel Number | 131300-6162-78-146072-0000 | Improvements Assessment | $4,725,439 CAD |
| Land Assessment | $213,061 CAD | Total Assessment | $4,938,500 CAD |
PROPERTY TAXES
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347 Main Poughkeepsie CBD | 347 Main St
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