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    297 Mill St Poughkeepsie, NY 12601
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    297 Mill St, Poughkeepsie, NY 12601

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    • Investment properties
    • 4,080 SF
    • 0.20 lot acres
    For Sale
    $499,000
    View Listing →
    Poughkeepsie Office Building For Sale For Sale
    $499,000
    4,080 SF

    Poughkeepsie Office Building For Sale

    Office building in central business district with high traffic frontage.

    297 Mill St, Poughkeepsie, NY 12601
    View Listing
    Property ID
    US63-0323759
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Eric S. Shiller Law Office, P.C. / Law Firm
    • 360 Property Management / Property Management Company
    • Primerica / Insurance Agency
    • River Realty Services, Inc. / Property Management Company / Real Estate Consultant

    Property Details for 297 Mill St

    Year built
    1910
    Lot size
    0.20 lot acres
    Zone code
    C-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    131300 6162-69-116145-0000
    APU
    9223372036854775807

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 28, 2026 $550,000 303 Mill Street Pk LLC Srs Prop Holdings LLC Deed —
    Feb 10, 2022 $275,000 Lafayette Developers LLC Poughkeepsie Prop LLC Deed —

    Description

    This exceptional 4,080 square foot multi-tenant office building is ideally situated in Poughkeepsie's Central Business District, offering a prime location with high visibility. The Class B property boasts 100% occupancy and is priced at $499,000, or $122.30 per square foot. Located on a 0.2-acre lot with direct frontage on US Route 44/NYS Route 55, it benefits from exceptional traffic counts (5,593 AADT). The building's strategic location provides easy access to key amenities, including the Dutchess County Courthouse, municipal offices, Poughkeepsie Train Station (serving Metro-North Hudson Line and Amtrak), MidHudson Regional Hospital, Vassar Brothers Medical Center, Marist College, Vassar College, Dutchess Community College, and the Culinary Institute of America. Furthermore, the property is surrounded by local shopping, dining, and community events, enhancing its appeal and potential for continued success. This versatile property is suitable for a variety of office uses, including creative, medical, and traditional office spaces, making it an attractive investment opportunity in a thriving and convenient location. The building's strong occupancy rate and prime location make it a compelling investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Poughkeepsie
    County
    Dutchess
    State
    New York
    Longitude
    -73.9258
    Latitude
    41.7052
    CBSA code
    39100
    CBSA name
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $58,300
    $144,000
    $202,300
    -
    $58,300
    $144,000
    $202,300

    Comparable in this City

    • Value Estimation
      $1,030,000
      27,580 SF

      341 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      341 Main St, Poughkeepsie, NY 12601-3116
      View Details
    • Value Estimation
      $1,270,000
      13,317 SF

      264 Nn Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      264 Nn Rd, Poughkeepsie, NY 12601-1392
      View Details
    • Value Estimation by Request
      2,376 SF

      34 Cannon St

      OFFICE/RESIDENTIAL (MIXED USE)
      34 Cannon St, Poughkeepsie, NY 12601-3206
      View Details
    • Value Estimation
      $705,000
      6,248 SF

      309 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      309 Main St, Poughkeepsie, NY 12601-7704
      View Details
    • Value Estimation
      $1,590,000
      6,696 SF

      539 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      539 Main St, Poughkeepsie, NY 12601-3465
      View Details
    • Value Estimation by Request
      8,466 SF

      306 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      306 Main St, Poughkeepsie, NY 12601-3110
      View Details

    Similar Nearby for Sale

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      Restored Mixed-Use Poughkeepsie Rowhouse

      Restored mixed-use building with commercial space and apartments in Poughkeepsie.
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    Similar Nearby for Lease

    • $27 SF/Yr

      10 Dutchess Landing Rd

      One Dutchess Landing
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    • $2,000 /Mo

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    View Listing
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    Poughkeepsie, NY 12601
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    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.

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