Multi-Tenant Office and Retail
For Sale
$6,100,000
41 MAIN ST, Poughkeepsie, NY 12601
Multi-tenant office and retail asset with surface parking and an extended bankruptcy court lease.
Property Size33,711 SF
Lot Size1.17 Acres
Price / SF$180.95
Days on Market197
Property Features for 41 MAIN ST
General Information
Standard status
Active
Size
33,711 SF
Lot size
1.17 Acres
Property subtype
Office
Amenities
Central Air
3
Parking.
80 Parking Spaces. Private, Lot.
Building Details
Year Built
1860
Tenancy
Multi
Listing Agency:
KW MidHudson
(914) 962-0007
Listed By:
Don Minichino · License #10401333542
(845) 242-4381
Source:
Xome
Added: Feb 20
Changed: Sep 2
Last Checked: Sep 5 at 4:06AM
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 KW MidHudson
Investment Insights
Based on property information with market context.
41 Main Street is a multi-tenant office and retail building totaling 33,711 square feet on 1.17 acres. The property includes one of three federal bankruptcy courthouses in the Southern District of New York, with the lease guaranteed by the United States government (S&P credit rating: AA+). The court lease commenced in 2005 and has been recently extended through 2034.
The site includes 80+ surface lot parking spaces, with some dedicated to the court. A large majority of the parking lot could be developed into an apartment building or hotel with up to 7 stories. Additionally, a pending 20-year lease is noted for 6,397 square feet with a medical provider.
The site includes 80+ surface lot parking spaces, with some dedicated to the court. A large majority of the parking lot could be developed into an apartment building or hotel with up to 7 stories. Additionally, a pending 20-year lease is noted for 6,397 square feet with a medical provider.
Key Highlights
- Multi‑tenant retail/office asset at 347 Main Street, Poughkeepsie on 1.17 acres
- Lease commenced in 2005 and recently extended for an additional 10 years through 2034
- Pending 20‑year lease for 6,397 SF with a medical provider
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
$543,084
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
8.90%
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%
$10,861,680
$10.9M
Cap Rate 7%
$7,758,343
$7.8M
Cap Rate 9%
$6,034,267
$6.0M
Market Conditions
NOI Build-Up for 33,711 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
$1.01M $30.00/SF
− Vacancy
−$106.2K −$3.15/SF
EGI
$905.1K $26.85/SF
− OpEx
−$362.1K −$10.74/SF
NOI
$543.1K $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 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%
$10,861,680
Cap Rate 7%
$7,758,343
Cap Rate 9%
$6,034,267
Alternative Uses
Best Use
Healthcare Medical
$7.76M
$6.79M – $9.05M
NOI $543,084 @ 7.0% cap · market cap 8.90%
Second Best
Office B
$7.71M
$6.74M – $8.99M
NOI $539,565 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$10.15M
$8.88M – $11.84M
NOI $710,332 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,374
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 - Multi-tenant office and retail asset with surface parking and an extended bankruptcy court lease.
Where is this office building located?
The property is located at 41 MAIN ST Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: Multi‑tenant retail/office asset at 347 Main Street, Poughkeepsie on 1.17 acres; Lease commenced in 2005 and recently extended for an additional 10 years through 2034; Pending 20‑year lease for 6,397 SF with a medical provider
