198 Main St Poughkeepsie, NY 12601-2970

Property Details for 198 Main St

Year built

1900

Lot size

0.06 lot acres

Property size

3,700 SF

Zone code

C-2

Property type

Investment properties

Property subtype

Live-work space

APN

131300 6062-84-963122-0000

APU

9223372036854775807

Description

This exceptional mixed-use property, located at 198 Main Street in Poughkeepsie, New York, presents a compelling investment opportunity. The 3,700 square foot building sits on a 0.06-acre lot and features three units: 2,000 square feet of residential space and 1,000 square feet of commercial space. Currently, all units are leased, with the commercial space occupied by a thriving hair salon. The building's solid brick construction ensures durability, while two rear balconies offer seasonal views of the Hudson River, complemented by a private rear garden area. Its prime Main Street location provides easy access to a wealth of amenities, including the Metro North train station, various community centers, entertainment venues, shops, and restaurants. Furthermore, Vassar College, Marist College, Vassar Brothers Medical Center, the Walkway Over the Hudson, the American Culinary Institute, and Dutchess Community College are all within a short driving distance. Ample public parking is conveniently located across the street. The property is offered at a 6.7% capitalization rate, with a potential pro forma cap rate exceeding 9% through interior renovations and market rent adjustments. A virtual tour and offering memorandum are available for qualified buyers upon request. Interested parties must provide proof of funds. Appointments require at least 48 hours' notice.

Location Insight

City

Poughkeepsie

County

Dutchess

State

New York

Longitude

-73.9314

Latitude

41.7045

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments