Renovated Four-Story Office
For Sale
$1,699,000
214 Main Street, Poughkeepsie, NY 12601
Commercial Sale, Poughkeepsie, NY
Property Size7,500 SF
Lot Size0.13 Acres
Price / SF$226.53
Days on Market170
Property Features for 214 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Rooms
Basement
Parking
14
Parking features
Parking Lot
Security features
Security System
Basement
Storage Space, Full, Walk-Out Access, Finished
Appliances
Refrigerator
Standard status
Active
APN
131300-6062-84-981118-0000
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17836
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private rear courtyard
outdoor rooftop
private offices
conference rooms
restrooms on every floor
storage areas
separate utilities
intercom system
recreation/training space
handicap accessible
Building Details
Building materials
Brick
Listing Agency:
K. Fortuna Realty, Inc.
(845) 632-3492
Listed By:
Ginalea Healy · License #10401298074
(845) 224-4272
Added: Mar 10
Changed: Aug 20
Last Checked: Aug 26 at 4:06AM
MLS# 970337
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-story office building at 214 Main Street contains more than 7,500 square feet and was renovated in 2012. The layout includes 10 private offices, two conference rooms, restrooms on every level, storage areas, separate utilities by floor, and an intercom system. A cellar-level recreation and training area adds additional functional space. The building is handicap accessible and features a replaced roof, updated front windows, exterior lighting improvements, copper plumbing, central air, forced-air heating, and public water and sewer.
The property includes a private rear courtyard and a separately deeded parking parcel at 211 Union Street with approximately 15 vehicle spaces. Located in downtown Poughkeepsie’s central business corridor, it is near the Bardavon 1869 Opera House, Mid-Hudson Civic Center, restaurants, retail, municipal offices, Metro-North service, and Hudson River waterfront redevelopment. The property is within a federally designated Opportunity Zone and will be delivered vacant.
The property includes a private rear courtyard and a separately deeded parking parcel at 211 Union Street with approximately 15 vehicle spaces. Located in downtown Poughkeepsie’s central business corridor, it is near the Bardavon 1869 Opera House, Mid-Hudson Civic Center, restaurants, retail, municipal offices, Metro-North service, and Hudson River waterfront redevelopment. The property is within a federally designated Opportunity Zone and will be delivered vacant.
Key Highlights
- More than 7,500 SF across four stories; renovated in 2012
- 10 private offices, 2 conference rooms, restrooms on every floor, and multiple storage areas
- Private rear courtyard plus rooftop outdoor space
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
$120,042
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
7.07%
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%
$2,400,840
$2.4M
Cap Rate 7%
$1,714,886
$1.7M
Cap Rate 9%
$1,333,800
$1.3M
Market Conditions
NOI Build-Up for 7,500 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
$205.2K $27.36/SF
− Vacancy
−$45.1K −$6.02/SF
EGI
$160.1K $21.34/SF
− OpEx
−$40.0K −$5.34/SF
NOI
$120.0K $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%
$2,400,840
Cap Rate 7%
$1,714,886
Cap Rate 9%
$1,333,800
Alternative Uses
Best Use
Office B
$1.71M
$1.50M – $2.00M
NOI $120,042 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.63M
NOI $158,034 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
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?
Office building - Vacant downtown office property with flexible floor-by-floor occupancy, private outdoor space, and separately deeded parking.
Where is this office building 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: More than 7,500 SF across four stories; renovated in 2012; 10 private offices, 2 conference rooms, restrooms on every floor, and multiple storage areas; Private rear courtyard plus rooftop outdoor space
