Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Poughkeepsie Development Opportunity Title is generated by Realmo AI

    54 Academy Street, Poughkeepsie, NY 12601

    View on Map
    Claim this Listing
    For Sale
    $700,000

    Multi-family property with redevelopment potential in a prime downtown location.

    Type:Land or Vacant Lot
    Added:
    Apr 8, 2026
    Days on Market:
    56
    Last Refresh:
    Apr 8 at 8:27 pm

    Property Features for 54 Academy Street

    General Information

    Standard status
    Active
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    GINALEA HEALY

    Listing agent GINALEA HEALY License #10401298074

    Listing office K. FORTUNA REALTY, INC.

    Listing date Apr 8, 2026

    Source Corcoran

    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.

    HighLights

    • Rare opportunity to acquire a multi‑family property with two adjoining vacant parcels in downtown Poughkeepsie.
    • Significant redevelopment potential due to the combined parcels and flexible MU‑5 zoning.
    • Existing multi‑family structure offers immediate income and value‑add potential through renovations.
    • Prime downtown location near business district, courthouse, and train station.
    • Strong rental demand in the area supports high‑density residential development.
    • MU‑5 zoning allows for multi‑family, retail, office, and service‑based uses, with potential for up to 7 stories.

    Overview

    Located in downtown Poughkeepsie, this offering includes a multi-family property and two adjoining vacant parcels, suitable for immediate income and future development. The existing multi-family structure contains large residential units with rental potential, presenting a value-add investment opportunity. Renovations could generate cash flow while providing a strategic hold for future expansion. The two vacant parcels create an assemblage that allows for redevelopment possibilities, such as expanding the current building, constructing new residential units, or creating a mixed-use concept. Situated within the MU-5 (Mixed-Use 5) zoning district, the property allows for multi-family residential development, retail, office, and service-based uses, with the potential for up to 5 stories (with bonus height opportunities up to 7 stories). The location is near the business district, courthouse, and train station. The zoning supports multiple development strategies, offering the opportunity to create scale with adjacent parcels. This property is suited for an investor or developer looking to combine immediate income with long-term upside in an active growth area.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Poughkeepsie
    County
    Dutchess
    State
    New York
    Longitude
    -73.92704
    Latitude
    41.70062

    Nearby Similar for Sale

    • $550,000
      5,920 SF

      Poughkeepsie Restaurant/Bar Opportunity

      Turnkey restaurant/bar building plus business assets available for purchase.
      85 Main Street, Poughkeepsie, NY 12601
      View Details
    • $499,000
      2,992 SF

      Poughkeepsie Commercial Property For Sale

      Two-unit commercial property suitable for retail or restaurant ventures.
      43 Violet Avenue, Poughkeepsie, NY 12601
      View Details
    • $395,000
      7,280 SF

      Poughkeepsie Commercial Building for Sale

      Two-story, 7,280 SF commercial building in Poughkeepsie, NY.
      383 Main Street, Poughkeepsie, NY 12601
      View Details
    • $999,000

      Poughkeepsie Commercial Property For Sale

      Income-generating commercial property on a high-traffic main road.
      1 S Gate Drive, Poughkeepsie, NY 12601
      View Details
    • $325,000
      9,700 SF

      Massive Structure in Poughkeepsie Waterfront

      9,700+ sq ft structure requiring total gut restoration.
      54 Noxon Street, Poughkeepsie, NY 12601
      View Details
    • $800,000

      Poughkeepsie Commercial Property For Sale

      Commercial property with warehouse and office space in Poughkeepsie.
      97 N Clinton Street, Poughkeepsie, NY 12601
      View Details
    • $349,000
      1,512 SF

      Two-Family Property Near Colleges

      Two-family property with strong rental income near colleges and transportation.
      2 Poplar Street, Poughkeepsie, NY 12601
      View Details
    • $550,000
      3,000 SF

      Poughkeepsie Colonial Two-Family Home

      Two-family home on 0.68 acres near Route 9 and MetroNorth.
      680 Vassar Road, Poughkeepsie, NY 12603
      View Details
    • $6,100,000

      Poughkeepsie Multi-Tenant Office Asset

      Multi-tenant office/medical asset with development potential in growing business district.
      347 Main Street, Poughkeepsie, NY 12601
      View Details
    • $699,975

      Poughkeepsie Multifamily Development Opportunity

      1.65-acre RM zoned land suitable for multifamily or healthcare development.
      18 Dorland Avenue, Poughkeepsie, NY 12603
      View Details
    • $795,000
      1,900 SF

      Restored Mixed-Use Poughkeepsie Rowhouse

      Restored mixed-use building with commercial space and apartments in Poughkeepsie.
      328 Main Street, Poughkeepsie, NY 12601
      View Details
    • $795,000
      1,900 SF

      Restored Mixed-Use Poughkeepsie Rowhouse

      Restored mixed-use building with storefront and apartments in downtown Poughkeepsie.
      330 Main Street, Poughkeepsie, NY 12601
      View Details

    FAQs

    What type of property is this?
    Commercial land - Multi-family property with redevelopment potential in a prime downtown location.
    Where is this commercial land located?
    The property is located at 54 Academy Street Poughkeepsie, NY.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: Rare opportunity to acquire a multi‑family property with two adjoining vacant parcels in downtown Poughkeepsie.; Significant redevelopment potential due to the combined parcels and flexible MU‑5 zoning.; Existing multi‑family structure offers immediate income and value‑add potential through renovations.
    (845) 632-3492
    We can help!
    Listing Contact
    GINALEA HEALY
    Real Estate License ID: 10401298074
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    54 Academy Street, Poughkeepsie, NY 12601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!