Office Building with GSA
347-355 Main Street, Poughkeepsie, NY 12601
For Sale
Contact for pricing
Located in Poughkeepsie’s Innovation District, the property has PID A zoning and accommodates office, medical, and service uses.
Property Size26,999 SF
Lot Size1.17 Acres
Price / SF$175.93
Days on Market30
Property Features for 347-355 Main Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Public Transit
Tenant in Place
Property Use
Building Details
Buildings
Building Size
Listing Agency:
CR Properties Group LLC
Listed By:
Thomas Cervone · License NY 49CE0922865
(845) 485-3100
Source:
Crexi
Added: Oct 12
Changed: Nov 8
Last Checked: Nov 8 at 5:14PM
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 CR Properties Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office property contains approximately 26,999 SF on 1.17 acres and has a GSA lease in place. PID A zoning supports a commercial setting that can accommodate professional office, medical, and other service-oriented uses.
The property is in Poughkeepsie’s Innovation District, with access to downtown, the Mid Hudson Bridge, and Route 9. The Metro-North and Amtrak station is approximately six blocks away, with rail service to New York City and regional destinations.
The property is in Poughkeepsie’s Innovation District, with access to downtown, the Mid Hudson Bridge, and Route 9. The Metro-North and Amtrak station is approximately six blocks away, with rail service to New York City and regional destinations.
Key Highlights
- Approximately 26,999 SF on 1.17 acres
- GSA lease in place
- PID A zoning in the Poughkeepsie Innovation District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$434,954
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,699,080
$8.7M
Cap Rate 7%
$6,213,629
$6.2M
Cap Rate 9%
$4,832,822
$4.8M
Market Conditions
NOI Build-Up for 26,999 SF
Gross rent
$810.0K $30.00/SF
− Vacancy
−$85.0K −$3.15/SF
EGI
$724.9K $26.85/SF
− OpEx
−$290.0K −$10.74/SF
NOI
$435.0K $16.11/SF
Area
Dutchess County, NY
Vacancy
10.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,699,080
Cap Rate 7%
$6,213,629
Cap Rate 9%
$4,832,822
Alternative Uses
Best Use
Healthcare Medical
$6.21M
$5.44M – $7.25M
NOI $434,954 @ 7.0% cap · market cap 9.16%
Second Best
Office B
$6.17M
$5.40M – $7.20M
NOI $432,135 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$8.13M
$7.11M – $9.48M
NOI $568,902 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,487
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
$275,800
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Dutchess County, NY
Properties on Market for Office buildings in Dutchess County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Located in Poughkeepsie’s Innovation District, the property has PID A zoning and accommodates office, medical, and service uses.
Where is this office building located?
The property is located at 347-355 Main Street Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Approximately 26,999 SF on 1.17 acres; GSA lease in place; PID A zoning in the Poughkeepsie Innovation District
