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59 Main Street

New Paltz, NY 12561
  • $2,000,000
  • STATUS: ACTIVE
  • ON SITE: 60 Days
  • MLS #: 20223738
UPDATED: 37 min ago
$2,000,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,360
    SQFT
  • $595
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1888
County:
Area:

School Ratings & Info

School District:

Description

Opportunity to own the best mixed-use building and restaurant in New Paltz! The sale includes the building, the Main Street Bistro business, all restaurant equipment, and two upstairs apartments. Very attractive owner financing available to qualified buyers: 25% down payment, 20-year fixed-rate loan, 5% interest rate! With this financing, you can own and operate the building at a similar cost to renting Main Street restaurant space, with all the benefits of long-term ownership. Established in 1993, the Main Street Bistro is one of the most beloved and successful restaurants in the thriving Village of New Paltz. Unbeatable corner location in the heart of the historic dining and shopping district of this charming college town. The Bistro has a large and loyal customer base of SUNY New Paltz students, local residents, and the thousands of tourists that flock to New Paltz each week. New ownership can grow revenues significantly by expanding the catering business and opening for dinner service. Continue the current turn-key operation, or make it your own! Operating expenses and taxes are offset by the two apartments upstairs, including a recently renovated 2BR (rents for $1,500, should be $2,000+) and an adjacent one bedroom unit (rents for $750/mo, increasing to $950 in January, should be $1,350+). Tenants pay heat, hot water, and electricity. The property includes 3 metered off-street parking space maintained by the Village of New Paltz, plus ample loading space at the rear of the building where owner parks car. New high-efficiency mini-split heating/cooling system in Bistro. Full basement is used for restaurant storage and prep, and is not included in the square footage. Absolutely unique opportunity to acquire one of the most iconic and attractive pieces of real estate in New Paltz.

Extras: Note: owner would consider a sale of the Main Street Bistro business separately from the real estate. Call listing broker for details.

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© 2023 by Hudson Valley Catskill Region MLS. All Rights Reserved. The data relating to real estate on this website comes in part from the IDX of the Hudson Valley Catskill Region MLS. Real estate listings held by brokerage firms other than The Petrocca Properties Team at Keller Williams Capital District are marked with IDX logo and the detailed information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data Last Updated:2023-02-04T19:18:31.513
www.petroccaproperties.com/homes/135237799
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59 Main Street New Paltz, NY 12561

  • Price: $2,000,000
  • Status: ACTIVE
  • On Site: 60 Days
  • Updated: 37 min ago
  • MLS #: 20223738
0
Beds
0
Baths
0
½ Baths
0.14
Acres
3,360
SQFT
$595
$/SQFT
1888
Built
Neighborhood:
New Paltz
County:
Ulster
Area:
New Paltz
School District:
NEW PALTZ
Property Description
Opportunity to own the best mixed-use building and restaurant in New Paltz! The sale includes the building, the Main Street Bistro business, all restaurant equipment, and two upstairs apartments. Very attractive owner financing available to qualified buyers: 25% down payment, 20-year fixed-rate loan, 5% interest rate! With this financing, you can own and operate the building at a similar cost to renting Main Street restaurant space, with all the benefits of long-term ownership. Established in 1993, the Main Street Bistro is one of the most beloved and successful restaurants in the thriving Village of New Paltz. Unbeatable corner location in the heart of the historic dining and shopping district of this charming college town. The Bistro has a large and loyal customer base of SUNY New Paltz students, local residents, and the thousands of tourists that flock to New Paltz each week. New ownership can grow revenues significantly by expanding the catering business and opening for dinner service. Continue the current turn-key operation, or make it your own! Operating expenses and taxes are offset by the two apartments upstairs, including a recently renovated 2BR (rents for $1,500, should be $2,000+) and an adjacent one bedroom unit (rents for $750/mo, increasing to $950 in January, should be $1,350+). Tenants pay heat, hot water, and electricity. The property includes 3 metered off-street parking space maintained by the Village of New Paltz, plus ample loading space at the rear of the building where owner parks car. New high-efficiency mini-split heating/cooling system in Bistro. Full basement is used for restaurant storage and prep, and is not included in the square footage. Absolutely unique opportunity to acquire one of the most iconic and attractive pieces of real estate in New Paltz.

Extras: Note: owner would consider a sale of the Main Street Bistro business separately from the real estate. Call listing broker for details.
Exterior Features

Garage Parking Extras Off Street Lot Features Corner Lot

Interior Features

Basement Full Cooling Air Conditioning Ductless Split Ac Units Heat Source Ductless Mini Split Sys Heating Fuel Electric Hot Water Electric

Property Features

Annual Taxes 12964 Current Business Type Cnt Restaurant Flood Plain No Foreclosure YN No General Tax 3836 Listing Type Exclusive Right Sewer Municipal Short Sale YN No Type Mixed Use Vil Tax 1605 Water Municipal

[Hudson Valley Catskill Region MLS] logo© 2023 by Hudson Valley Catskill Region MLS.
Listing # 20223738 provided courtesy of Matthew Eyler of New Paltz Properties: 845-417-8300.
© 2023 by Hudson Valley Catskill Region MLS. All Rights Reserved. The data relating to real estate on this website comes in part from the IDX of the Hudson Valley Catskill Region MLS. Real estate listings held by brokerage firms other than The Petrocca Properties Team at Keller Williams Capital District are marked with IDX logo and the detailed information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data Last Updated:2023-02-04T19:18:31.513
 
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