355 Mill St Poughkeepsie, NY 12601
- Warehouses
- 3,393 SF
- 0.03 lot acres
Current Use by Public Records
- Warehouses
Property Details for 355 Mill St
- Year built
- 1920
- Lot size
- 0.03 lot acres
- Property size
- 3,393 SF
- Zone code
- C-3
- Property type
- Warehouses
- APN
- 131300 6162-78-217082-0000
- APU
- 9223372036854775807
Description
This exceptional investment opportunity encompasses a prime 0.97-acre corner lot in vibrant Downtown Poughkeepsie, strategically positioned at the intersection of Mill Street and North Hamilton Street. The property comprises four parcels, offering significant redevelopment potential. The main structure, located at 355 Mill Street, is a 10,227 square foot warehouse/office building currently owner-occupied, operating under C-3 zoning. This building generates a current gross annual income of $141,000, with pro-forma projections reaching $176,000. Two additional vacant parcels, also zoned C-3, provide valuable frontage on both Mill Street and North Hamilton Street, presenting exciting possibilities for future development. Further enhancing the investment potential is 359 Mill Street, a mixed-use building featuring a four-family residential component (one 1-bedroom unit, one studio, and a salon) along with eight garages. All existing tenants enjoy long-term leases. The property benefits from municipal water, sewer, and natural gas services. This portfolio presents a unique chance to participate in the ongoing revitalization of Poughkeepsie's downtown area, capitalizing on strong rental income and substantial future development prospects. The asking price for this entire portfolio is $1,750,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Poughkeepsie
- County
- Dutchess
- State
- New York
- Longitude
- -73.9221
- Latitude
- 41.7034
- CBSA code
- 39100
- CBSA name
- POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA
