138 Montgomery St Poughkeepsie, NY 12601-4228

This exceptional value-add opportunity presents a 7,200 square foot mixed-use warehouse located at 138 Montgomery Street in Poughkeepsie, New York, 12601. The property boasts a strong 8.07% cap rate and a net operating income (NOI) of $64,952. The two-story building includes two residential units – one one-bedroom and one three-bedroom apartment – offering immediate rental income. Additionally, the property features 26 garage units and a workshop, currently occupied by the owner. Classic finishes in the apartments present a value-add opportunity to increase rental income through renovations. Tenants are responsible for gas and electric utilities. The existing storage unit rents are below market, providing further potential for increased revenue with exterior improvements. This property is being offered for sale by owner at $805,000 and presents a compelling investment in a high-demand area with a strong rental market. The property is classified as industrial, mixed-use, and self-storage. The lease type is gross, and the tenancy is multi-unit.