138 Montgomery StPoughkeepsie, NY 12601

Property Details for 138 Montgomery St

Lot size

0.49 AC

Zone code

R-2A

Property type

Investment properties

Property subtype

Live-work space

APN

131300 6161-22-178928-0000

APU

9223372036854775807

Description

This exceptional value-add opportunity presents a 7,200 square foot mixed-use warehouse located at 138 Montgomery Street in Poughkeepsie, New York, 12601. The property boasts a strong 8.07% cap rate and a net operating income (NOI) of $64,952. The two-story building includes two residential units – one one-bedroom and one three-bedroom apartment – offering immediate rental income. Additionally, the property features 26 garage units and a workshop, currently occupied by the owner. Classic finishes in the apartments present a value-add opportunity to increase rental income through renovations. Tenants are responsible for gas and electric utilities. The existing storage unit rents are below market, providing further potential for increased revenue with exterior improvements. This property is being offered for sale by owner at $805,000 and presents a compelling investment in a high-demand area with a strong rental market. The property is classified as industrial, mixed-use, and self-storage. The lease type is gross, and the tenancy is multi-unit.

• CAP approach

  CAP return

  Valuation

  6%

  $3,894,944

  6.5%

  $3,595,333

  7%

  $3,338,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,792,587

  Geo Method

  $2,788,807

• Alternative Use

  Use

  Valuation

  Residential

  $4,458,213

  Hospitality

  $4,083,699

  Educational

  $3,397,590

  Medical

  $3,514,438

  Retail

  $5,285,140

Location Insight

City

Poughkeepsie

County

Dutchess

State

New York

Latitude

41.6991

Longitude

-73.9236

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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