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Property profile & analytics
OFF-MARKET
Estimated value
$12,630,000
Medical Office Space
21 Reade Pl Poughkeepsie, NY 12601-3912
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-4280688
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2012
Total area
105,762 SF
Lot
2.41 ac (104,980 SF)
Zoning code
H-M
APN
131300 6061-44-923730-0000
UPID
US63-4280688
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Steven D. Ritter, MD Hospital
-
Vadim Meytes Physician
-
Alexa Morgese, PA Hospital
-
Global Neurosciences Institute Medical Clinic Hospital
-
Health Quest Medical Practice, P.C. Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.04M
Blend (final)
Blend
$12.63M
Owner & transaction history
Northern Dutchess Hospital · 6 yrs held
Northern Dutchess Hospital
since 2020
3 recorded transactions
Zoning & alternative use
H-M · Poughkeepsie, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.7M
+45.9%
Restaurant
$8.1M
+22.7%
Retail stores
$8.1M
+21.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Poughkeepsie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Poughkeepsie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$9,685,000
Change: +46% · Conversion: Difficult
RESTAURANT
$8,145,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$8,090,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,860,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$12.63M
Range $11.37M – $13.89M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$119 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Assessed value
$31,200,000
Assessed 2023
Previous assessed
$24,000,000
+30.0% YoY
Assessed land
$264,000
Assessed improvement
$30,936,000
Land market value
$264,000
Improvement market value
$30,936,000
Total market value
$31,200,000
Applied tax rate
131,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2012
Heating
NONE
Cooling
CENTRAL
Stories
5
Total area
105,762 SF
Lot
2.41 ac (104,980 SF)
Zoning code
H-M
APN
131300 6061-44-923730-0000
UPID
US63-4280688
Jurisdiction
DUTCHESS
Zoning & alternative use
H-M · Poughkeepsie, NYZoning H-M · permitted uses
H-M · Poughkeepsie, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$9.7M
RESTAURANT
Est. value
$8.1M
RETAIL STORES
Est. value
$8.1M
COMMERCIAL (GENERAL)
Est. value
$7.9M
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Heating
NONE
Cooling
Yes
Stories
5
Lot
2.41 ac
Current owner
From public records · entity-resolved
Northern Dutchess Hospital
Individual
Mailing address
54 PAGE PARK DR, POUGHKEEPSIE, NY 12603-2584
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2020
—
Northern Dutchess Hospital
—
Deed
related
$100,000,000 · Bank Of Ny Mellon
Jul 2, 2014
—
Vassar Brothers Hospital
—
Grant Deed
related
$54,615,000 · Bank Of Ny Mellon
—
—
Northern Dutchess Hospital
—
Loan Modification
related
$100,000,000 · Bank Of Ny Mellon
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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