Turn-Key Office
For Sale
$550,000
149 S Grand Ave, Poughkeepsie, NY 12603
Recently renovated office building with central air, multiple private offices, and dedicated parking for 12+ cars.
Property Size2,232 SF
Days on Market56
Property Features for 149 S Grand Ave
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Clear Height
8 ft
Taxes and HOA fees
Annual Taxes
$10,000
Building Details
Building Size
2,232 SF
Listing Agency:
Gunrick Residential, Inc.
(646) 372-6663
Listed By:
Erik Hosch · License #10311200631
(646) 372-6663
Source:
Elliman
Added: Jun 18
Changed: Aug 7
Last Checked: Aug 11 at 10:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gunrick Residential, Inc.
Investment Insights
Based on property information with market context.
This office building was completely redone within the last year, with brand new windows, electrical, flooring, plumbing, and insulation. The interior includes a new eat-in kitchen and newly updated bathrooms, along with 5+ offices, two conference areas, and an eight-foot ceiling height. A full finished basement provides additional space that can support offices or storage and filing. The building has central air and was painted inside and out, supporting a move-in ready condition.
The property is located right off Hooker Ave on the southside of Poughkeepsie, with convenient access for tenants and visitors. It also features a private parking lot sized for 12+ cars, making day-to-day arrivals more practical. Walk score is listed as 76 (very walkable), with some transit service indicated by a transit score of 31.
For buyers seeking an office use with flexible interior space, the combination of multiple offices, conference areas, and a finished basement can accommodate a range of professional operations and workspace needs. The private parking and recent systems upgrades further support smooth occupancy for an owner-operator or an incoming tenant group.
The property is located right off Hooker Ave on the southside of Poughkeepsie, with convenient access for tenants and visitors. It also features a private parking lot sized for 12+ cars, making day-to-day arrivals more practical. Walk score is listed as 76 (very walkable), with some transit service indicated by a transit score of 31.
For buyers seeking an office use with flexible interior space, the combination of multiple offices, conference areas, and a finished basement can accommodate a range of professional operations and workspace needs. The private parking and recent systems upgrades further support smooth occupancy for an owner-operator or an incoming tenant group.
Key Highlights
- Completely redone last year with brand new windows, electrical, flooring, plumbing, insulation, and interior/exterior paint
- Office layout includes 5+ offices, 2 conference areas, and a full finished basement for additional offices or storage/filing
- Updated interior features include an eat‑in kitchen, 2 bathrooms, central air, and 8‑foot ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,724
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$714,480
$714.5K
Cap Rate 7%
$510,343
$510.3K
Cap Rate 9%
$396,933
$396.9K
Market Conditions
NOI Build-Up for 2,232 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.1K $27.36/SF
− Vacancy
−$13.4K −$6.02/SF
EGI
$47.6K $21.34/SF
− OpEx
−$11.9K −$5.34/SF
NOI
$35.7K $16.01/SF
Area
Dutchess County, NY
Vacancy
22.00%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$714,480
Cap Rate 7%
$510,343
Cap Rate 9%
$396,933
Alternative Uses
Best Use
Office B
$510.3K
$446.6K – $595.4K
NOI $35,724 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$671.9K
$587.9K – $783.9K
NOI $47,031 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8 ft
Clear height
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 12603, NY
41,470
Population
17,468
Households
2.4
Avg Household Size
43
Median Age
47%
College-Educated
94%
High-School Grad
31.9 sq mi
ZIP Area
1,300
Density / Sq Mi
$104,185
Median Household Income
$54,254
Median Earnings
$1,626
Median Rent
$342,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Recently renovated office building with central air, multiple private offices, and dedicated parking for 12+ cars.
Where is this office building located?
The property is located at 149 S Grand Ave Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Completely redone last year with brand new windows, electrical, flooring, plumbing, insulation, and interior/exterior paint; Office layout includes 5+ offices, 2 conference areas, and a full finished basement for additional offices or storage/filing; Updated interior features include an eat‑in kitchen, 2 bathrooms, central air, and 8‑foot ceilings
