2578 Route 55Poughquag, NY 12570

Property Details for 2578 Route 55

Year built

1983

Lot size

0.92 AC

Property size (Sq ft)

3,994 SF

Zone code

C-2

Property type

Turn key restaurants

APN

132200 6759-04-685204-0000

APU

9223372036854775807

Description

This exceptional 6,280 square foot commercial property, situated on a 0.92-acre lot at 2578 Route 55 in Poughquag, NY, presents a unique investment opportunity. Boasting prime road frontage, the building features a dramatic entrance leading to a captivating interior with exposed beams and soaring 30-foot cathedral ceilings, ideal for creating a memorable dining or entertainment experience. Intricate details, including custom glasswork, tile, woodworking, and molding, are accented by elegant LED stained-glass lighting. The property is perfectly suited for a variety of uses, such as a steakhouse, burger restaurant, brewery, or live music venue. A show-stopping horseshoe bar with 20 tap lines and seating for 16 patrons, along with a towering center display, is a key feature. The bar area and main dining space feature tile flooring, while a separate party room offers hardwood floors. Multiple bathrooms and banquette seating provide ample space for diners and private events. Recent upgrades include a brand-new, fully equipped kitchen with modern refrigeration, a new tap system, and a tented outdoor patio. Significant improvements have also been made to the parking lot, curbing, and landscaping. The septic system has been updated. The property benefits from high traffic counts, excellent signage, ample on-street and overflow parking, and a central location. With a capacity to seat over 100 guests, and the potential for on-site brewery operations (with a separate dining room easily adaptable for brewery equipment), this property offers significant potential for a thriving business. The asking price is $1,250,000. No lease is available.

• CAP approach

  CAP return

  Valuation

  6%

  $1,070,800

  6.5%

  $988,430

  7%

  $917,828

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,316,849

  Geo Method

  $1,315,077

• Alternative Use

  Use

  Valuation

  Residential

  $833,778

  Hospitality

  $763,736

  Educational

  $635,420

  Medical

  $657,273

  Retail

  $988,430

Location Insight

City

Poughquag

County

Dutchess

State

New York

Latitude

41.6234

Longitude

-73.686

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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