605 Dutchess Tpke Poughkeepsie, NY 12603-1922

Property Details for 605 Dutchess Tpke

Year built

1975

Lot size

0.66 lot acres

Property size

616 SF

Zone code

BSC

Property type

Automotive properties

APN

134689 6261-01-029840-0000

APU

9223372036854775807

Description

This exceptional offering presents a rare opportunity to acquire a two-building, multi-tenant retail portfolio situated on a 1.3-acre lot at 605-611 Dutchess Turnpike in Poughkeepsie, NY. The property consists of two single-story buildings totaling 9,696 net rentable square feet, currently operating at 100% occupancy with two tenants under a modified lease structure. The leases have a remaining term of approximately 2.5 years, expiring June 1st, 2027, with a built-in 3% annual rent bump. The current Net Operating Income (NOI) stands at $103,078, yielding a compelling 12.13% capitalization rate based on the $850,000 asking price. The property is zoned BSC, offering versatile usage potential. Individual building sizes are not specified, but the combined property features ample paved parking. The property benefits from public water and sewer access. This owner/user investment opportunity provides immediate income and significant upside potential upon lease expiration. The property's prime location on Dutchess Turnpike ensures high visibility and accessibility, making it an ideal investment for both seasoned investors and owner-operators seeking a strong return on investment. The property's strong financial performance, coupled with its strategic location and flexible zoning, makes it a truly exceptional opportunity in the Poughkeepsie commercial real estate market.