For Sale
$2,300,000

21 Old Main StFishkill, NY 12524

19,360 SF, 6.55% Cap Rate, 72 Parking Spaces

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional Class A creative office building, located at 21 Old Main Street in Fishkill, NY, presents a compelling investment opportunity. The 19,360-square-foot property, built in 1988 and extensively renovated in 2023, boasts a strong 6.55% cap rate with a pro-forma rate of 8.00%. The current Net Operating Income (NOI) stands at $150,566, projected to increase to $181,292. The asking price is $2,300,000, translating to $118.80 per square foot. This elevator building offers ample parking with 72 spaces, ensuring convenience for tenants and visitors. Situated in a prime location directly adjacent to All Sport Health and Fitness, and with easy access to Routes 9, 52, and I-84, as well as the Westage Business Center, the property benefits from excellent visibility and accessibility within the heart of Fishkill's business district. The building currently houses a diverse range of high-quality tenants across various industries, including healthcare, law, wellness, and publications. Only two units are currently vacant, both immediately available for occupancy. This property offers a stable tenant base and represents a significant opportunity for portfolio diversification and strong returns. The building features multiple entrances, adding to its functionality and appeal.

Highlights

  • $2,300,000 asking price for a 19,360 SF Class A creative office building in Fishkill, NY.
  • 6.55% current cap rate, 8.00% pro-forma cap rate, with a $150,566 current NOI and a $181,292 pro-forma NOI.
  • 1988 construction with 2023 renovations.
  • 72 parking spaces and elevator service.
  • Excellent location in Fishkill's business district, near major roadways and amenities.

Property Details for 21 Old Main St

Property type
Office properties, Office space
Square Feet
19,360 SF
Class
A
Year Built/Renovated
1988/2023

Location Insight

City
Fishkill
County
Dutchess
State
New York
Latitude
41.534983
Longitude
-73.8963283
21 Old Main St, Fishkill, New York

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21 Old Main St
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