796 Main StArlington, NY 12603

Property Details for 796 Main St

Year built

1916

Lot size

0.34 AC

Property size (Sq ft)

5,379 SF

Zone code

ATC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

134689 6161-08-806808-0000

APU

9223372036854775807

Description

This exceptional mixed-use property in Arlington, NY, presents a compelling investment opportunity. Located at 796 Main St, this 5,379 square foot, two-story building boasts a 100% occupancy rate with a current NOI of $50,726 and a pro-forma NOI of $62,725, reflecting a 7.00% cap rate and a pro-forma cap rate of 8.65%. The property features a thriving restaurant occupying the first floor, complete with an indoor beer garden and commercial kitchen, and two residential units on the second floor, one of which has been fully renovated in 2023. The building sits on a .34-acre lot (14,810 sq ft) and includes 10 parking spaces with convenient Main Street access. Built in 1916, the property benefits from ATC zoning, allowing for diverse uses. The current lease is a modified lease with a remaining term of 0.5 years, expiring May 31, 2025, and includes a 3% annual rent bump. The asking price is $725,000 ($134.78/sq ft). This property offers significant upside potential due to below-market apartment rents and a strong, established restaurant tenant. Its prime location near Vassar College and the Arlington Town Center ensures consistent demand and strong rental income. The property is a fee simple ownership with APN 134689-6161-08-806808.

• CAP approach

  CAP return

  Valuation

  6%

  $1,442,855

  6.5%

  $1,331,866

  7%

  $1,236,733

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,773,506

  Geo Method

  $1,771,107

• Alternative Use

  Use

  Valuation

  Residential

  $1,123,479

  Hospitality

  $1,029,101

  Educational

  $856,200

  Medical

  $885,646

  Retail

  $1,331,866

Location Insight

City

Poughkeepsie

County

Dutchess

State

New York

Latitude

41.6958

Longitude

-73.9006

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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