Under contract
Pending Continue to Show
55 Main Street
New Paltz NY, 12561
$1,495,000
$327.85 per sqft
Under contract
Pending Continue to Show
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
December 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
Listing History
Date | Event | Price |
|---|---|---|
12/17/2024 | Under contract | — |
Listed by Matthew Eyler with New Paltz Properties
Listing Contact:
The IDX display contains information sourced from the Hudson Valley Catskill Region MLS as of 12/17/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 12/17/2024 at 5:19 PM UTC