Commercial in Dutchess County
| MLS Number | 912474 |
|---|---|
| Address | 347 Main Street, Poughkeepsie, NY 12601 show map |
| Price | $4,800,000 show mortgage calculator |
| Acres | 0 |
| Year Built | 1860 |
| Est. Sq. Footage | 0 |
| Zoning | Innovation District |
| Current Uses | |
| Permitted Uses |
HVNY Commercial Team @KW is pleased to exclusively market 347 Main Street, Poughkeepsie - 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
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