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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
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.
***PENDING 20YR LEASE FOR 6,397SF WITH MEDICAL PROVIDER
***ASSUMABLE 5.4% MORTGAGE
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.
***PENDING 20YR LEASE FOR 6,397SF WITH MEDICAL PROVIDER
***ASSUMABLE 5.4% MORTGAGE
Property Facts
Sale Type
Investment
Property Type
Building Size
33,421 SF
Building Class
B
Year Built/Renovated
1860/2005
Price
$6,053,608 CAD
Price Per SF
$181.13 CAD
Percent Leased
74%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
16,711 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 | $4,555,678 CAD |
| Land Assessment | $205,407 CAD | Total Assessment | $4,761,085 CAD |
Property Taxes
Parcel Number
131300-6162-78-146072-0000
Land Assessment
$205,407 CAD
Improvements Assessment
$4,555,678 CAD
Total Assessment
$4,761,085 CAD
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