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    243 Main St New Paltz, NY 12561-1325
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    Property profile & analytics

    243 Main St, New Paltz, NY 12561-1325

    View on Map
    • Office buildings
    • 13,214 SF
    • 0.91 lot acres
    Off-Market
    Property ID
    US63-0379568
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $905,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • S R Productions Inc / Film Production / Television Studio
    • Schneider Law Offices, PLLC / Law Firm
    • Scott I Morrison Optometry **Now Harnos Optometry** / Physician
    • Law Offices of Heather D. Harp, P.C. / Law Firm / Child Welfare Organization
    • Passport Health New Paltz Travel Clinic (by appointment only) / Medical Clinic

    Property Details for 243 Main St

    Year built
    1980
    Lot size
    0.91 lot acres
    Zone code
    R1
    Property type
    Office buildings
    APN
    513889 86.8-4-19
    APU
    513889868419

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,203,000
      Market price range: $1.17M - $2.61M
      AI Estimate
      $1,119,000
      Market price range: $712k - $2.32M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Paltz
    County
    Ulster
    State
    New York
    Longitude
    -74.0737
    Latitude
    41.7445
    CBSA code
    28740
    CBSA name
    KINGSTON, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $176,000
    $1,154,000
    $1,330,000
    -
    $266,667
    $1,748,485
    $2,015,152

    Comparable in this City

    • Value Estimation
      $4,815,000
      32,296 SF

      279 Main St

      PROFESSIONAL BUILDING
      279 Main St, New Paltz, NY 12561-1623
      View Details
    • Value Estimation
      $700,000
      5,454 SF

      1 Paradies Ln

      PROFESSIONAL BUILDING
      1 Paradies Ln, New Paltz, NY 12561-4031
      View Details
    • Value Estimation by Request
      3,024 SF

      85 Chestnut St

      OFFICE BUILDING
      85 Chestnut St, New Paltz, NY 12561-2708
      View Details
    • Value Estimation by Request
      3,500 SF

      3 Ohioville Rd

      OFFICE BUILDING
      3 Ohioville Rd, New Paltz, NY 12561-4012
      View Details
    • Value Estimation
      $525,000
      4,690 SF

      40 Sunset Rdg Rd

      PROFESSIONAL BUILDING
      40 Sunset Rdg Rd, New Paltz, NY 12561-1036
      View Details
    • Value Estimation
      $510,000
      1,516 SF

      218 Main St

      OFFICE BUILDING
      218 Main St, New Paltz, NY 12561-1311
      View Details

    Similar Nearby for Sale

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      Mixed-Use Development in New Paltz

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      500 Main St, New Paltz, NY 12561

      Commercial land
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      View Details
    • $2,999,500
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      Iconic Destination in Hudson Valley

      High-traffic location suitable for various commercial ventures.
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    • $1,399,900

      Vacant Land in New Paltz

      1.8-acre vacant lot suitable for various commercial uses.
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    Similar Nearby for Lease

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      Versatile Space in New Paltz

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    • $16 SF/Yr

      Active Strip Center Retail Space

      Prime retail, restaurant, and office spaces in thriving New Paltz.
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      1,000 SF

      Pharmacy-Anchored Strip Center Space

      Retail space available in a pharmacy-anchored strip center.
      232-236 Main St, New Paltz, NY 12561
      View Details
    • Contact for pricing
      2,755 SF

      Prime Retail Space on Main

      High-visibility retail space in the heart of New Paltz.
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    • Contact for pricing
      3,240 SF

      Retail Space in New Paltz

      Retail space for lease in a 146,235 SF shopping center.
      271 Main St, New Paltz, NY 12561
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    New Paltz, NY 12561-1325
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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