Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    236 State Route 32 S New Paltz, NY 12561

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Pending
    $475,000

    Income-generating 3-family property with potential for a 4th unit.

    Lot size:
    1.06 Acres

    Property Features for 236 State Route 32 S

    General Information

    Property type
    Investment
    Standard status
    Pending
    Lot size
    1.06 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Amanda Wilcox
    Source: Elliman

    Listing Agent: Amanda Wilcox

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Fully Occupied Triplex with Expansion Potential

    This fully occupied, income-generating 3-family property features two 1-bedroom units and one 2-bedroom unit. Tenants are responsible for all utilities. There is an unfinished 4th unit that offers excellent potential for added value. The entire floor is included in the tax-recorded square footage and can be reconverted into a legal unit with the proper permits, unlocking even more income potential. Highlights include a durable metal roof and ample off-street parking with space for more vehicles than needed. It has a solid rental history. The property is currently bringing in 4,350 per month. The current rent roll is below market, leaving room for future rent increases and higher returns. The exterior could benefit from some TLC, but the property offers strong bones and immediate cash flow.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Skin Care Clinic Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Paltz
    County
    Ulster
    State
    New York
    Longitude
    -74.0772978
    Latitude
    41.7664594

    Nearby Similar for Sale

    • $99,999
      2,500 SF

      Turn-Key Ice Cream Shop

      Profitable, fully operational shop in a high-traffic Hudson Valley location.
      188 Main St, New Paltz, NY 12561
      View Details
    • New
      $2,999,500
      7,500 SF

      Iconic Destination in Hudson Valley

      High-traffic location suitable for various commercial ventures.
      3 Main St, New Paltz, NY 12561
      View Details
    • New
      $3,250,000
      2,500 SF

      Iconic Mixed-Use Property in New Paltz

      Mixed-use property with river frontage and development potential.
      1-3 Water St, New Paltz, NY 12561
      View Details
    • $475,000
      Pending

      Fully Occupied 3-Family Investment Property

      Income-generating 3-family property with expansion potential in New Paltz, NY.
      236 State Route 32 S, New Paltz, NY 12561
      View Details
    • $720,000
      1,990 SF

      Turn-Key Mixed-Use New Paltz

      Commercial and residential property in the heart of New Paltz.
      46 N Chestnut St, New Paltz, NY 12561
      View Details
    • $1,400,000
      71.80 Acres

      Expansive New Paltz Equestrian Estate

      71.8-acre New Paltz property with equestrian and agritourism potential.
      239 Springtown Rd, New Paltz, NY 12561
      View Details
    • $2,999,500

      Iconic Hudson Valley Destination

      High-traffic location suitable for hospitality, retail, or mixed-use ventures.
      3 Main St, New Paltz, NY 12561
      View Details
    • $799,000

      New Paltz Office Building For Sale

      Six-unit office building near New Paltz with income potential.
      40 Sunset Ridge Rd, New Paltz, NY 12561
      View Details
    • $495,000
      Pending

      New Paltz Triplex Investment

      Turnkey 3-family property in New Paltz with income potential.
      232 State Route 32 S, New Paltz, NY 12561
      View Details
    • $785,000
      Pending

      New Paltz Specialty Property

      Specialty property available for sale in New Paltz, NY.
      38 Plattekill Ave, New Paltz, NY 12561
      View Details
    • $3,640,000

      Iconic Mixed-Use Property in New Paltz

      Prime mixed-use property with river frontage and development potential.
      1 Water St, New Paltz, NY 12561
      View Details
    • $3,500,000
      5,000 SF

      Coppersea Distillery: Hudson Valley Estate

      71.8-acre Estate, Distillery, Event Venue
      239 Springtown Rd, New Paltz, NY 12561
      View Details

    FAQs

    What type of property is this?
    Triplex - Income-generating 3-family property with potential for a 4th unit.
    Where is this triplex located?
    The property is located at 236 State Route 32 S New Paltz, NY.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: - Fully occupied 3-family property generating $4,350 per month; - Unfinished 4th unit offers expansion potential and increased income; - Tenants pay all utilities
    (845) 891-9639
    Request Owner's contact information
    236 State Route 32 S New Paltz, NY 12561
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    236 State Route 32 S
    New Paltz, NY 12561
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    236 State Route 32 S New Paltz, NY 12561
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Amanda Wilcox
    Real Estate License ID: 10401324460
    (845) 891-9639 (888) 276-0630
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!