355 Mill St, Poughkeepsie, NY 12601

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.