845-206-9286
347 Main St, Poughkeepsie, NY for Sale
Office - FOR SALE
1/8
null | 8.5% Cap Rate

347 Main St
Poughkeepsie, NY 12601
Downtown Poughkeepsie


HIGHLIGHTS

  • Weighted Average Lease Length: 8.6 Years, Recently Renewed
  • Upside Available through Leasing
  • Opportunity Zone
  • 350k SF Development Opportunity
  • Solid In-Place Cash Flow
  • Investment-Grade Tenant (US Government)

OVERVIEW

JAC Capital Partners is pleased to exclusively market 347-355 Main Street, a multi-tenant Retail / Office property located in Poughkeepsie, NY. 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, representing a commitment to the site. The building is further benefitted from its convenient infill location, with excellent foot and car traffic exposure. It also has the largest dedicated parking on main street, with more than eighty spaces. The subject is located 90 minutes from New York City and is accessible by Amtrak and Metro North rails. Weighted Average Lease Length: 8.6 Years 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) Infill Location with Significant Development Opportunity (Up to 350,000 SF)

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

347 Main - Opportunity Zone - Poughkeepsie

PROPERTY TYPE

Office

ADD'L SUBTYPES

Freestanding, Storefront Retail/Office, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1860

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,965 SF

ZONING

PID

APN/PARCEL ID

131300-6162-78-146072-0000

ASK ABOUT THIS PROPERTY

Ariel RodriguezJAC CAPITAL PARTNERS LLCMore Info
845-206-9286

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Ariel RodriguezJAC CAPITAL PARTNERS LLCMore Info
845-206-9286

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.