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235 Main St 5 Unit Apartment Building $788,695 CAD ($157,739 CAD/Unit) 9.05% Cap Rate New Paltz, NY 12561
INVESTMENT HIGHLIGHTS
- Restaurant tenant currently month-to-month
- Option 2: Delete the interior lot line but retain dual zoning (B-2/R-1), which raises issues with R-1 minimum frontage (100 ft) requirements.
- Option 1 (recommended): Apply for a lot-line revision through the Zoning Board to combine both parcels into one B-2-zoned property.
EXECUTIVE SUMMARY
Prime location, Main St New Paltz within walking distance to all shopping, college, eateries, and stores. The sale includes an adjacent residential zoned lot. The front parcel is a 3-unit commercial building on 0.46 Acres, which can be used as office space, with a detached +/- 600 square foot restaurant building with ample parking for both buildings, property is located in a B-2 commercial zone. The additional parcel is a vacant lot (in the back) zoned R-1 and consists of about 1.43 acres. The property is hooked up to municipal sewer but currently runs off of a well. The additional vacant lot 86.8-4-15 has the potential to develop as a residential parcel. Please see the associated documents for all income and expense info, county records, zoning, and uses in the zone.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $379,740 CAD (2024) | |
| Land Assessment | $159,905 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $219,835 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$159,905 CAD (2024)
Improvements Assessment
$219,835 CAD (2024)
Total Assessment
$379,740 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
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235 Main St
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