Four-Story Mixed-Use
For Sale
$1,699,000
214 Main Street, Poughkeepsie, NY 12601
Renovated downtown property with flexible floor-by-floor occupancy, private outdoor space, and separately deeded parking.
Property Size7,580 SF
Days on Market173
Property Features for 214 Main Street
General Information
Standard status
Active
Size
7,580 SF
Total Parking Spaces
14
Property subtype
Commercial
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$17,836
Building Details
Building Size
7,580 SF
Listing Agency:
K. Fortuna Realty, Inc.
(845) 224-4272
Listed By:
Ginalea Healy · License #10401298074
(845) 224-4272
Source:
Cornerstonemyhome
Added: Mar 12
Changed: Aug 29
Last Checked: Aug 30 at 5:38PM
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 K. Fortuna Realty, Inc.
Investment Insights
Based on property information with market context.
This fully renovated four-story mixed-use building provides approximately 7,500+ SF of commercial space and was configured for either single-tenant or multi-tenant occupancy. The interior includes 10 private offices, 2 conference rooms, restrooms on every floor, multiple storage areas, separate utilities for each level, and an intercom system. A cellar-level recreation and training area adds flexible amenity, classroom, or collaborative workspace. The property is handicap accessible and includes a private rear courtyard and rooftop outdoor area.
Renovation work was completed in 2012, with subsequent capital improvements including roof replacement, updated front windows, exterior lighting, and copper plumbing. Heating is provided by oil through an above-ground tank. The adjacent, separately deeded parking parcel at 211 Union Street accommodates approximately 15 vehicles.
Located at 214 Main Street in Downtown Poughkeepsie, the property is near the Bardavon 1869 Opera House, Mid-Hudson Civic Center, restaurants, retail, municipal offices, Metro-North, and Hudson River waterfront redevelopment. The property carries C-2 zoning and is within a federally designated Opportunity Zone.
Renovation work was completed in 2012, with subsequent capital improvements including roof replacement, updated front windows, exterior lighting, and copper plumbing. Heating is provided by oil through an above-ground tank. The adjacent, separately deeded parking parcel at 211 Union Street accommodates approximately 15 vehicles.
Located at 214 Main Street in Downtown Poughkeepsie, the property is near the Bardavon 1869 Opera House, Mid-Hudson Civic Center, restaurants, retail, municipal offices, Metro-North, and Hudson River waterfront redevelopment. The property carries C-2 zoning and is within a federally designated Opportunity Zone.
Key Highlights
- Approximately 7,500+ SF four‑story commercial building renovated in 2012
- 10 private offices, 2 conference rooms, restrooms on every floor, and separate utilities per level
- Private rear courtyard plus a rooftop outdoor area
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
$121,322
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
7.14%
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%
$2,426,440
$2.4M
Cap Rate 7%
$1,733,171
$1.7M
Cap Rate 9%
$1,348,022
$1.3M
Market Conditions
NOI Build-Up for 7,580 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
$207.4K $27.36/SF
− Vacancy
−$45.6K −$6.02/SF
EGI
$161.8K $21.34/SF
− OpEx
−$40.4K −$5.34/SF
NOI
$121.3K $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%
$2,426,440
Cap Rate 7%
$1,733,171
Cap Rate 9%
$1,348,022
Alternative Uses
Best Use
Office B
$1.73M
$1.52M – $2.02M
NOI $121,322 @ 7.0% cap · market cap 7.14%
Second Best
Mixed Use
$1.32M
$1.15M – $1.53M
NOI $92,097 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,720 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 12601, NY
44,264
Population
17,972
Households
2.5
Avg Household Size
35
Median Age
30%
College-Educated
88%
High-School Grad
18.3 sq mi
ZIP Area
2,419
Density / Sq Mi
$64,769
Median Household Income
$37,259
Median Earnings
$1,376
Median Rent
$275,800
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?
Mixed-use property - Renovated downtown property with flexible floor-by-floor occupancy, private outdoor space, and separately deeded parking.
Where is this mixed-use property located?
The property is located at 214 Main Street Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Approximately 7,500+ SF four‑story commercial building renovated in 2012; 10 private offices, 2 conference rooms, restrooms on every floor, and separate utilities per level; Private rear courtyard plus a rooftop outdoor area
