Located in the center of New Paltz, a thriving tourist and college town.


Property

Website:https://www.nestseekers.com/3080447
Address:
53 Main Street
New Paltz, NY 12561
Ownership: For Sale
Type: Commercial

Financials

Price: $1,495,000
Annual Taxes: $20,100

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Description

Located in the center of New Paltz, a thriving tourist and college town. Two commercial spaces; restaurant and retail sales on first floor. Two 4 bedroom apartments on second floor. Restaurant (Zaytune Cafe) has very good reviews for Mediterranean food, and Heddy Teddy is a successful clothing/gift shop. Zaytune has 5 year lease (6/21 to 5/26) w/ renewal option for additional 5 years. Zaytune pays $3,860 as of June 2023). Heady Teddy is in second year of a 5 year renewal, and pays $3,675 per month. Tenants on second floor (2 apartments) pay $3,055 and $3,180 for a total of $6,235 per month. Building total rent is $13,860 per month or $166,320 per year. Excellent location, high visibility.

Contact

6243 Northern Blvd
Courtesy of Reading Realty