Turn-Key Live-Work Building with
For Sale
$629,000
46 N Chestnut Street, New Paltz, NY 12561
COMMERCIAL - New Paltz, NY
Property Size1,990 SF
Lot Size0.32 Acres
Price / SF$316.08
Days on Market48
Property Features for 46 N Chestnut Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Directions
Take a right onto North Chestnut Street from New Paltz, NY.
Subdivision
New Paltz
Standard status
Active
APN
380108603400030230000000
Size
1,990 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
8882
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
pickleball court
Building Details
Year built
1965
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Lindsay Stevens · License #10301211263
(845) 204-4447
Added: Jun 30
Changed: Aug 4
Last Checked: Aug 16 at 6:06PM
MLS# 20263631
Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
46 North Chestnut is a fully turn-key, meticulously renovated live-work commercial and residential property set on a 0.32-acre lot. The main level was designed for private office use and features a reception area, polished hardwood floors, a kitchenette/coffee bar, and a flexible open workspace with room for multiple desks. The suite also includes a custom conference room with wood beams and wide-plank flooring, built-in storage, workstations, and a half bath, with easy access to the basement for additional storage.
Upstairs, the private apartment provides an additional income option and offers an eat-in kitchen with a dining area, a full bath, and a spacious bedroom that can serve as a living area. The residence is bright with natural light and sunset views.
Outside, the property offers ample private parking and a detached garage, plus a private pickleball court. Zoned B1, the building is in the heart of the Village of New Paltz, just steps from Main Street dining, cafes, boutiques, and the Rail Trail.
Upstairs, the private apartment provides an additional income option and offers an eat-in kitchen with a dining area, a full bath, and a spacious bedroom that can serve as a living area. The residence is bright with natural light and sunset views.
Outside, the property offers ample private parking and a detached garage, plus a private pickleball court. Zoned B1, the building is in the heart of the Village of New Paltz, just steps from Main Street dining, cafes, boutiques, and the Rail Trail.
Key Highlights
- 46 North Chestnut in the Village of New Paltz with a renovated commercial workspace plus a private upstairs apartment
- Fully renovated building designed/restored by Seakill Custom Home Builders for their private offices
- Main level features reception area, polished hardwood floors, kitchenette/coffee bar, open workspace, custom conference room, built‑in storage, workstations, and a half bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,089
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$781,780
$781.8K
Cap Rate 7%
$558,414
$558.4K
Cap Rate 9%
$434,322
$434.3K
Market Conditions
NOI Build-Up for 1,990 SF
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.
Gross rent
$59.7K $30.00/SF
− Vacancy
−$7.6K −$3.81/SF
EGI
$52.1K $26.19/SF
− OpEx
−$13.0K −$6.55/SF
NOI
$39.1K $19.64/SF
Area
Ulster County, NY
Vacancy
12.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$781,780
Cap Rate 7%
$558,414
Cap Rate 9%
$434,322
Alternative Uses
Best Use
Apartment 5plus
$16.21M
$14.18M – $18.91M
NOI $1,134,544 @ 7.0% cap · market cap 180.37%
Second Best
Office B
$558.4K
$488.6K – $651.5K
NOI $39,089 @ 7.0% cap · market cap 6.21%
Theoretical Best
Multifamily LT 5
$18.61M
$16.28M – $21.71M
NOI $1,302,701 @ 7.0% cap · market cap 207.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
1
Residential units
Location Intelligence
Trade Area within ½ mile
951
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Fully renovated live-work building with office reception, conference room, and a private upstairs apartment.
Where is this live-work space located?
The property is located at 46 N Chestnut Street New Paltz, NY.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 46 North Chestnut in the Village of New Paltz with a renovated commercial workspace plus a private upstairs apartment; Fully renovated building designed/restored by Seakill Custom Home Builders for their private offices; Main level features reception area, polished hardwood floors, kitchenette/coffee bar, open workspace, custom conference room, built‑in storage, workstations, and a half bath
