3 Main St, New Paltz, NY 12561

7,476 SF 2.03 ac lot Built 1998

Entity Owned 7-yr Hold ~ Est. High Equity

Property ID

US63-2245111

$2,999,500 7,476 SF

3 Main St, New Paltz, NY 12561
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Exceptional opportunity to acquire a thriving, established bar and restaurant in the vibrant Village of New Paltz, New York. This turnkey operation, known as the Gilded Otter/Clemson Brothers, boasts 8,276 square feet of space across two stories, situated on a desirable 2.03-acre corner lot at 3 Main St, 12561. The property, built in 1998 and renovated in 2020, enjoys 100% occupancy and benefits from a prime location near SUNY New Paltz, offering stunning Shawangunk Mountain views. Its strategic location, 90 minutes from both New York City and Albany, is easily accessible via major roadways including the New York State Thruway (Exit 18) and State Routes 299, 32, and 208. The property features ample outdoor seating and parking. The current zoning, Gateway, allows for a variety of uses. This presents a unique opportunity for an owner/user or a developer seeking to capitalize on the area's growth and potential. The asking price is $2,500,000, translating to $302.08 per square foot. The property's potential extends beyond its current use; a visionary developer could transform this into a multi-use development incorporating apartments, retail space, and potentially a parking garage. Ulster County's thriving market makes this a compelling investment.