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Mixed-Use

Behrends Court

386 Main St, Poughkeepsie, NY 12601

Listing Price: Request For Offer

Number of Units
40
Occupancy
96.0%

Investment Overview

Marcus & Millichap is pleased to offer the following opportunity known as Behrends Court, a three-story, mixed-use asset located at 13-15 South Hamilton Street in Poughkeepsie, New York (Dutchess County). Originally constructed in 1920 and gut renovated in 2008, Behrends Court is situated on approximately 0.81 acres, offers gated parking for 25 cars and comprised of 40 apartments and 9 retail stores. The unit breakdown consist of five (5) studio apartments, 21 1-bedroom apartments and 14 2-bedroom apartments.

Investment Highlights

  • Behrends Court is a Class-B mixed use asset consisting of 40 luxury apartments and 9 street level retail stores located on Main Street in Poughkeepsie.
  • Offered at compelling basis with upside in leasing the one vacant retail space and the increasing apartment rents through organic rent growth.
  • Favorable in place financing giving investors an opportunity to secure below market debt.
  • 100% Free Market opportunity allowing investors to immediately capitalize on the loss to lease.

Exclusively Listed By

Mixed-Use

Behrends Court

Listing Price: Request For Offer

Number of Units
40
Occupancy
96.0%

Investment Highlights

  • Behrends Court is a Class-B mixed use asset consisting of 40 luxury apartments and 9 street level retail stores located on Main Street in Poughkeepsie.
  • Offered at compelling basis with upside in leasing the one vacant retail space and the increasing apartment rents through organic rent growth.
  • Favorable in place financing giving investors an opportunity to secure below market debt.
  • 100% Free Market opportunity allowing investors to immediately capitalize on the loss to lease.

Investment Overview

Marcus & Millichap is pleased to offer the following opportunity known as Behrends Court, a three-story, mixed-use asset located at 13-15 South Hamilton Street in Poughkeepsie, New York (Dutchess County). Originally constructed in 1920 and gut renovated in 2008, Behrends Court is situated on approximately 0.81 acres, offers gated parking for 25 cars and comprised of 40 apartments and 9 retail stores. The unit breakdown consist of five (5) studio apartments, 21 1-bedroom apartments and 14 2-bedroom apartments.

Exclusively Listed By

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