359 Mill St, Poughkeepsie, NY 12601
10,227 SF | 67% Leased | Retail Building | Poughkeepsie, NY 12601 | $1,750,000 ($171/SF) | 5.41% Cap Rate
For Sale
Active
Asking Price $1,750,000
- Sale Condition
- Redevelopment Project
- Property Type
-
Retail
- Square Feet
- 10,227 SF
- Price / Square Foot
- $171
Listing Contacts
- Property Info
Property Overview
Possible redevelopment with in-place income - $141,000/yr in gross income, $155,000 Pro-Forma. Totaling an acre, situated on the corner of Mill St and N Hamilton. Sale consists of 4 parcels total, 2 of them are vacant land (Innovation District Creative Edge zoning). Other two parcels - 355 Mill currently warehouse/office owner occupied, C-3 zoning and 359 Mill, mixed use, C-3 zoning, 4 family home of 1 bedrooms, a studio and salon, and 8 garages total in the rear of the lot. All spaces are occupied, mostly with long standing tenants all on short-term leases, and remaining spaces owner-occupied.
Property Details
- Class
- C
- Year Built
- 1920
- Stories
- 1
- Property Subtype
- Freestanding, Vehicle Related, Office/Residential, Office Live/Work Unit
- Lot Size (sq. ft)
- 42,253 SF
Highlights
- Heavy Auto Traffic along NYS-44/55 Poughkeepsie
- Pending Zoning Overlay to allow for 4-5 stories Mixed-Use
- In-place Income w/ Long-term Development Potential
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