REQUEST A TOUR
In-PersonVirtual Tour
Listed by: New Paltz Properties
$ 1,495,000
Est. payment | /mo
4,560 SqFt
$ 1,495,000
Est. payment | /mo
4,560 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,560 sqft
Price per Sqft $327
MLS Listing ID 20243986
Originating Board Hudson Valley Catskills Region Multiple List Service (Ulster County Board of REALTORS®)
Year Built 1900
Annual Tax Amount $15,688
Tax Year 15688
Lot Size 4,791 Sqft
Acres 0.11
Property Description
Rare opportunity to acquire a core mixed-use property on the best block in Downtown New Paltz. Located immediately next door to the Main Street Bistro, 55 Main Street includes two leased ground floor commercial spaces and two 4BR apartments on the second floor. The first commercial space was beautifully renovated this year by Agave restaurant, and is under lease through May 2028. The second commercial space is leased through May 2027 to popular and established gift shop Heady Teddy's. Both commercial tenants have annual contracted increases in rent - 5 pct and 6 pct, respectively. All utilities, including electricity, heating oil, propane, and water/sewer are individually metered for each unit. Stabilized 9.3 cap rate! Low-risk high-occupancy property that is very well positioned for continued appreciation. Irreplaceable location in the heart of this thriving college town, right in the center of all of the action. Financials available upon request.
Location
State NY
County Ulster
Area New Paltz
Zoning B2
Rooms
Basement Full
Building
Story 2
Others
Tax ID 86.143-1-8
