297 Mill StPoughkeepsie, NY 12601

Property Details for 297 Mill St

Year built

1910

Lot size

0.20 AC

Property size (Sq ft)

4,080 SF

Zone code

C-2

Property type

Investment properties

Property subtype

Live-work space

APN

131300 6162-69-116145-0000

APU

9223372036854775807

Description

This exceptional 4,080 square foot multi-tenant office building is ideally situated in Poughkeepsie's Central Business District, offering a prime location with high visibility. The Class B property boasts 100% occupancy and is priced at $499,000, or $122.30 per square foot. Located on a 0.2-acre lot with direct frontage on US Route 44/NYS Route 55, it benefits from exceptional traffic counts (5,593 AADT). The building's strategic location provides easy access to key amenities, including the Dutchess County Courthouse, municipal offices, Poughkeepsie Train Station (serving Metro-North Hudson Line and Amtrak), MidHudson Regional Hospital, Vassar Brothers Medical Center, Marist College, Vassar College, Dutchess Community College, and the Culinary Institute of America. Furthermore, the property is surrounded by local shopping, dining, and community events, enhancing its appeal and potential for continued success. This versatile property is suitable for a variety of office uses, including creative, medical, and traditional office spaces, making it an attractive investment opportunity in a thriving and convenient location. The building's strong occupancy rate and prime location make it a compelling investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $849,601

  6.5%

  $784,247

  7%

  $728,229

• Comparable approach

  Method

  Valuation

  Relative Method

  $544,492

  Geo Method

  $543,755

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,537,720

  Retail / Commercial

  $787,708

  Hospitality / Lodging

  $574,527

  Office

  $778,908

  Institutional / Educational

  $815,067

  Residential Income

  $953,629

  Multifamily

  $1,147,350

  Automotive / Energy

  $698,629

  Parking / Income-Based Land

  $241,733

  Restaurant / Food Service

  $406,500

  Healthcare / Senior Housing

  $804,900

Location Insight

City

Poughkeepsie

County

Dutchess

State

New York

Latitude

41.7052

Longitude

-73.9258

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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