3 Main St
New Paltz, NY 12561
Retail Property For Sale

Opportunity to purchase the most prominent piece of real estate in New Paltz. The eye-catching 8,276 square foot building is the first thing you see when crossing the bridge into town from the west, drawing interest and inviting a visit. Former home of the legendary Gilded Otter brew pub, both locals and tourists have enjoyed the stunning mountain views from the expansive outdoor riverfront patio since the business opened in 1998. The long, highly successful run of the Gilded Otter illustrates the strength of the location as a dining, drinking, and community hub. The brew pub was built to the highest engineering standards, with steel beams, huge windows, and a soaring open interior rising to 40 feet. The building features central heating and cooling, ample electricity, municipal water/sewer, and a full sprinkler system. There is no location in New Paltz with 3 Main Street's incredible quantity of private parking - 72 spaces that deliver unmatched convenience for visitors and the ability to pursue uses that would not be supported elsewhere in town. Concepts include a traditional bar/restaurant, a multi-tenant dining concept, a food court, a music venue, a community recreation space, and a gourmet market, to name a few. There is so much parking that there is a potential to add residential use, either by constructing a new three-story building at the far end of the parking lot, or by modifying the roof of the existing building to add two floors of apartments above the commercial space. These would be the finest and most desirable apartments in New Paltz, with amazing mountain and river views and a core location within easy walking distance of New Paltz's vibrant shops, restaurants, bars, cafes, Water Street Market and the SUNY New Paltz Campus. A structural engineer has been consulted regarding this concept and his initial review suggests it is a feasible option due to the building's robust steel beam design. The property's "Gateway" zoning supports mixed-use, with no setbacks required on the lot. There is nothing like 3 Main Street in New Paltz, and there never will be - bring your passion to unlock the full potential of this iconic and beloved riverfront location, just steps from the Rail Trail and the new boutique hotel being completed on Water Street. Note that the large 2.03-acre lot includes some land across Huguenot Street directly along the bank of Wallkill River, presenting additional opportunities.