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Property profile

235 Main St New Paltz, NY 12561

OFF-MARKET
Investment properties
Property ID
US63-2212624
View Sample
1,635 SF 0.46 ac lot Built 1965
Individually Owned 5-yr Hold Free & Clear

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

Current use

Occupant on record · Public records
  • Restaurant
  • Courier Service

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$320k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$320k

Owner & transaction history

since 2021
2 recorded transactions
2021
Price N/A
1969
Price N/A

Zoning & alternative use

R1 · New Paltz, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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