Active
55 Main Street
New Paltz NY, 12561
$1,495,000
$327.85 per sqft
Active
4,560 sqft
Commercial
Built in 1900
Rare opportunity to acquire a core mixed-use property on the best block in Downtown New Paltz. Located immediately next door to the Main Street Bistro, 55 Main Street includes two leased ground floor commercial spaces and two 4BR apartments on the second floor. The first commercial space was beautifully renovated this year by Agave restaurant, and is under lease through May 2028. The second commercial space is leased through May 2027 to popular and established gift shop Heady Teddy's. Both commercial tenants have annual contracted increases in rent - 5 pct and 6 pct, respectively. All utilities, including electricity, heating oil, propane, and water/sewer are individually metered for each unit. Stabilized 9.3 cap rate! Low-risk high-occupancy property that is very well positioned for continued appreciation. Irreplaceable location in the heart of this thriving college town, right in the center of all of the action. Financials available upon request.
20243986
MLSⓇ ID
September 29, 2024
Listed
October 17, 2024
Updated
Map
55 Main Street
New Paltz NY, 12561
Interior Features
Total Stories
2
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.11 Acres
Other Property Details
Area Name
New Paltz
Taxes
$15,688
Tax Frequency
Annually
Garage
No
Parking Total
5
View
No
County
Ulster
Municipality
New Paltz
Pool
No
Zoning
B2
Listed by Matthew Eyler with New Paltz Properties
Listing Contact:
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Data last updated on 10/17/2024 at 2:39 PM UTC