Historic Mixed-Use Entertainment
For Sale
Contact for pricing
16 N Chestnut St, New Paltz, NY 12561
Historic building with expansive upstairs space and a restaurant/retail-ready downstairs area, currently used by Goodwill Church.
Property Size6,560 SF
Price / SF$301.07
Days on Market31
Property Features for 16 N Chestnut St
General Information
Standard status
Active
Size
6,560 SF
Property subtype
OFFICE
Listing Agency:
CR Properties Group, LLC
(845) 485-3100
Listed By:
Tom Cervone
Source:
Moodyscre
Added: Jul 1
Changed: Jul 28
Last Checked: Jul 31 at 1:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CR Properties Group, LLC
Investment Insights
Based on property information with market context.
The property at 16 N Chestnut St is a historic building originally dating back to the 1860s. The expansive upstairs space has historically supported community meetings, live theater, lectures, and art exhibitions, and it features high ceilings, beautiful windows, and historic woodwork. The downstairs area historically accommodated a restaurant and various retail uses, and Barnaby’s Restaurant operated on the ground floor with a cozy ambiance.
In recent years, the building was leased by Goodwill Church, which used the space for Sunday school and community rooms while preserving the original architectural features.
The building’s layout reflects a flexible mix of public-facing uses, with large upstairs gathering space and a separate ground-floor area that has previously functioned as a restaurant and retail space.
In recent years, the building was leased by Goodwill Church, which used the space for Sunday school and community rooms while preserving the original architectural features.
The building’s layout reflects a flexible mix of public-facing uses, with large upstairs gathering space and a separate ground-floor area that has previously functioned as a restaurant and retail space.
Key Highlights
- Historic building at 16 N Chestnut Street in New Paltz, NY, with origins dating back to the 1860s
- Upstairs space used for meetings, live theater, lectures, and art exhibitions over its history
- Downstairs area designed for restaurant and various retail uses, including Barnaby's Restaurant in the 1960s
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.1k | $18.00 |
| − Vacancy | −$5.0k | −$0.76 |
| EGI | $113.1k | $17.24 |
| − OpEx | −$28.3k | −$4.31 |
| NOI | $84.8k | $12.93 |
6,560 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,840 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$61.35M
$53.68M – $71.57M
NOI $4,294,330 @ 7.0% cap · market cap 217.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 12561, NY
18,726
Population
7,081
Households
2.6
Avg Household Size
36
Median Age
56%
College-Educated
97%
High-School Grad
60.3 sq mi
ZIP Area
311
Density / Sq Mi
$89,694
Median Household Income
$25,612
Median Earnings
$1,603
Median Rent
$411,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Historic building with expansive upstairs space and a restaurant/retail-ready downstairs area, currently used by Goodwill Church.
Where is this church & religious facility located?
The property is located at 16 N Chestnut St New Paltz, NY.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Historic building at 16 N Chestnut Street in New Paltz, NY, with origins dating back to the 1860s; Upstairs space used for meetings, live theater, lectures, and art exhibitions over its history; Downstairs area designed for restaurant and various retail uses, including Barnaby's Restaurant in the 1960s
