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    OFF-MARKET
    Investment properties

    235 Main St, New Paltz, NY 12561-1308

    1,635 SF 0.46 ac lot Built 1965
    Individually Owned 5-yr Hold Free & Clear
    Property ID
    US63-2212624
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1965
    Total area 1,635 SF
    Lot 0.46 ac (20,038 SF)
    Zoning code R1
    APN 513889 86.8-4-18
    UPID US63-2212624
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • New Nelly's Restaurant II Restaurant
    • Green Taxi, LLC Courier Service
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Paola Portuese · 5 yrs held
    Paola Portuese
    since 2021
    2 recorded transactions
    2021
    1969
    Zoning & alternative use
    R1 · New Paltz, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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