322 Main StPoughkeepsie, NY 12601

Property Details for 322 Main St

Year built

1920

Lot size

0.07 AC

Property size (Sq ft)

5,800 SF

Zone code

C-2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

131300 6162-77-097062-0000

APU

9223372036854775807

Description

This exceptional mixed-use property, situated in Poughkeepsie's vibrant Central Business District at 322 Main Street, presents a compelling investment opportunity. The 5,800 square foot building, spanning four floors, is currently fully occupied with a mix of commercial and residential tenants. The ground floor houses a lounge, and the second floor features an established tattoo parlor, both benefiting from short-term leases (ranging from one to three years). The upper two floors offer two residential units, each a two-bedroom apartment. A full basement provides ample storage space. The building has undergone phased renovations over the past decade, enhancing its value and appeal. Significant improvements include a new roof installed in 2021, ensuring long-term structural integrity. Individual electric, gas, and water meters for each unit offer efficient utility management and cost allocation. Window air conditioning units provide climate control throughout the building. The 0.07-acre lot provides a manageable footprint in a high-traffic location. This property offers a strong blend of income generation and potential for future appreciation, making it an ideal addition to any investment portfolio. The current tenants are relatively new, providing an opportunity for future rent adjustments. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,058,420

  6.5%

  $977,003

  7%

  $907,217

• Comparable approach

  Method

  Valuation

  Relative Method

  $758,855

  Geo Method

  $757,828

• Alternative Use

  Use

  Valuation

  Residential

  $1,211,483

  Hospitality

  $1,109,712

  Educational

  $923,268

  Medical

  $955,020

  Retail

  $1,436,194

Location Insight

City

Poughkeepsie

County

Dutchess

State

New York

Latitude

41.7029

Longitude

-73.9265

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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