Downtown Mixed-Use Property with
For Sale
$575,000
381 Main St, Poughkeepsie, NY 12601
Mixed-use building with existing salon operations and dedicated off-street parking for tenants and guests.
Property Size2,554 SF
Price / SF$225.14
Days on Market155
Property Features for 381 Main St
General Information
Standard status
Active
Size
2,554 SF
Total Parking Spaces
10
Property subtype
Commercial
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Anesha Nesbitt · License #10401285703
(845) 825-2341
Source:
Searchhomesinlongisland
Added: May 4
Changed: Oct 1
Last Checked: Oct 4 at 9:51AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This mixed-use commercial property at 381 Main Street is well maintained and designed to support multiple income-producing spaces. The first floor is occupied by a high-end salon, and the owner is offering the building for sale while remaining interested in staying as a long-term tenant. The second floor is currently leased on a month-to-month basis to a nail salon, providing flexibility for a buyer to keep the existing tenant, adjust terms, or reposition the space.
A standout feature is the dedicated off-street parking, with approximately 10 exclusive spaces available for the property. The asset is positioned in Downtown Poughkeepsie, in an area the remarks describe as benefiting from ongoing public and private investment.
For investors or owner-operators looking for a building with current occupancy, the structure offers immediate rental income through established businesses on both the first and second floors. The dedicated parking also adds operational utility and potential for additional revenue through leased parking arrangements for nearby businesses, employees, or residents, depending on how the buyer chooses to manage the parking area.
A standout feature is the dedicated off-street parking, with approximately 10 exclusive spaces available for the property. The asset is positioned in Downtown Poughkeepsie, in an area the remarks describe as benefiting from ongoing public and private investment.
For investors or owner-operators looking for a building with current occupancy, the structure offers immediate rental income through established businesses on both the first and second floors. The dedicated parking also adds operational utility and potential for additional revenue through leased parking arrangements for nearby businesses, employees, or residents, depending on how the buyer chooses to manage the parking area.
Key Highlights
- Mixed‑use commercial building at 381 Main Street in Downtown Poughkeepsie.
- First floor is occupied by a successful high‑end salon, and the owner is offering the property for sale while remaining as a long‑term tenant.
- Second floor is leased month‑to‑month to a nail salon for flexible lease management or potential repositioning.
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
$31,031
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
5.40%
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%
$620,620
$620.6K
Cap Rate 7%
$443,300
$443.3K
Cap Rate 9%
$344,789
$344.8K
Market Conditions
NOI Build-Up for 2,554 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
$55.2K $21.60/SF
− Vacancy
−$5.5K −$2.16/SF
EGI
$49.6K $19.44/SF
− OpEx
−$18.6K −$7.29/SF
NOI
$31.0K $12.15/SF
Area
Dutchess County, NY
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$620,620
Cap Rate 7%
$443,300
Cap Rate 9%
$344,789
Alternative Uses
Best Use
Mixed Use
$443.3K
$387.9K – $517.2K
NOI $31,031 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$768.8K
$672.7K – $896.9K
NOI $53,816 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,487
Businesses Nearby
Under-served
Demand for This Use
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
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Similar Off Market Nearby
- The WellTree — 80 Washington St # 405, Poughkeepsie, NY 12601
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Mixed-use building with existing salon operations and dedicated off-street parking for tenants and guests.
Where is this spa & wellness property located?
The property is located at 381 Main St Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Mixed‑use commercial building at 381 Main Street in Downtown Poughkeepsie.; First floor is occupied by a successful high‑end salon, and the owner is offering the property for sale while remaining as a long‑term tenant.; Second floor is leased month‑to‑month to a nail salon for flexible lease management or potential repositioning.
