235 Main StNew Paltz, NY 12561

Property Details for 235 Main St

Year built

1965

Lot size

0.46 AC

Property size (Sq ft)

1,635 SF

Zone code

R1

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

513889 86.8-4-18

APU

513889868418

Description

This exceptional mixed-use property at 235 Main Street, New Paltz, NY 12561, presents a compelling investment opportunity. The offering encompasses two adjacent parcels totaling approximately 1.89 acres, strategically located in the heart of New Paltz. The main parcel features a 2,758 square foot, two-story commercial building, currently configured as a three-unit commercial space and a separate, approximately 600 square foot restaurant building. Both buildings benefit from ample parking. The property is situated in a COM1 commercial zone, offering flexibility for various uses. The second parcel is a vacant 1.43-acre lot zoned R-1, presenting potential for future residential development. The existing buildings were constructed in 1965 and boast four units. The property is connected to municipal sewer but currently utilizes a well for water. Detailed financial information, county records, zoning details, and permitted uses are available upon request. This prime location offers exceptional walkability to shopping, the college, restaurants, and other amenities. The asking price is $585,000, translating to $212.11 per square foot. This presents a rare chance to acquire a substantial mixed-use property with significant upside potential in a thriving New York community.

• CAP approach

  CAP return

  Valuation

  6%

  $406,159

  6.5%

  $374,916

  7%

  $348,137

• Comparable approach

  Method

  Valuation

  Relative Method

  $215,065

  Geo Method

  $213,629

• Alternative Use

  Use

  Valuation

  Residential

  $464,896

  Hospitality

  $425,842

  Educational

  $354,296

  Medical

  $366,481

  Retail

  $551,127

Location Insight

City

New Paltz

County

Ulster

State

New York

Latitude

41.7448

Longitude

-74.0742

CBSA code

28740

CBSA name

KINGSTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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