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22 Ibm Rd Poughkeepsie, NY 12601

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For Sale
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Prime Poughkeepsie Office Complex

Property size:
45,000 SF

Property Features for 22 Ibm Rd

General Information

Property type
Retail properties
Square Feet
45,000 SF
Class
B
Lot Size
130,680 SF

Building Details

Year Renovated
2019
Buildings
2
Stories
2
Units
19

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Listing Contact
John Demarco
John Demarco

Listing Agency: Century 21 Alliance Rlty Group Listing Agent: John Demarco

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents a fully occupied, 45,000 square foot, Class B office and retail complex in Poughkeepsie, NY. The property, situated on 3 acres at 22 IBM Rd, boasts two renovated buildings with 19 units and 160 parking spaces. Completed in Fall 2019, renovations included a new roof, HVAC systems, energy-efficient windows, upgraded bathrooms, new flooring, paint, storefront entrances, signage, LED lighting, security cameras, a new façade, and landscaping. Currently housing 22 tenants with a diverse mix of professional services, the property enjoys 100% occupancy and a strong Net Operating Income (NOI) of $570,873, with a pro-forma NOI of $708,737 and a 7.05% cap rate (8.75% pro-forma). The property features a modified lease type with 3% annual rent bumps, offering significant upside potential due to below-market lease rates. The asking price is $8,100,000, representing a price per square foot of $180. Zoned for commercial use, this property is an ideal investment for both owner-occupiers and 1031 exchange candidates, offering a solid infrastructure, strong tenant base, and ample parking. Financial details are available upon request. The property's convenient location near Route 9 provides easy access to numerous amenities.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Amalathas Simona MD Physician Schutzman Stanley A Law Firm Poughkeepsie Dental Dental Office Andrew L. Trimboli, ... Dental Office Donna S. Trimboli ... Dental Office

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

Location Insight

  • Map
  • Local Demand
City
Poughkeepsie
County
Dutchess
State
New York
Longitude
-73.9329519
Latitude
41.6504857

FAQs

What type of property is this?
Retail property - Prime Poughkeepsie Office Complex
Where is this retail property located?
The property is located at 22 Ibm Rd Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $8,100,000.
What are key features of this property?
This property features: Fully Leased, Strong Tenant Roster; Recently Completed Renovations; 1031 Exchange Eligible
(845) 297-4700 Call to check price and availability
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