Listed by KW Mid-Hudson
$1,200,000
Potential Apartment Conversion Poughkeepsie NY
Details
APN 6162-78-195018-0000
Property Type Retail, Office
Sub Type Traditional Office, Executive Office
Square Footage 15,915
Net Rentable (SqFt) 15,915
Units 2
Occupancy 50%
Tenancy Multi
Lease Type NN
Year Built 1957
Stories 2
Lot Size (SqFt) 10,754
Zoning MU-5
Parking Spaces 4 spaces
Parking per 1,000 SqFt 0.25
Investment Type Value Add
Ground Lease No
Sale Condition Distressed
50% Occupied Mixed-Use Building w/ Apartment Conversion Potential
Marketing description
412 Main Poughkeepsie is an investor-owned two-story elevator building with a ground-floor tenant on long-term double net lease and vacant second-floor office that can legally be converted to apartments. Architect rendering shows 10 units in the floorplans, ADA accessible with elevator and staircase access. Zoning allows for an additional three floors.
Financials available upon request. Buyer responsible for buyer agency fee.
Investment highlights
- Located in the Poughkeepsie Central Business District
- Former Telephone Building turned Multi-tenant Retail/Office
- Solid brick structure with full basement, tons of natural light, elevator
- Municipal water/sewer, Natural Gas, Heavy power
- Retail tenant in long-term lease; 2nd floor could be converted to 10 apartments
- Potential to go vertical with three additional floors
Listing Contacts
Listed by KW Mid-Hudson
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