87 Chestnut StNew Paltz, NY 12561

Property Details for 87 Chestnut St

Year built

2020

Lot size

1.40 AC

Property size (Sq ft)

63,280 SF

Zone code

B3

Property type

Showrooms

APN

513801 86.26-1-14.112

APU

5138018626114112

Description

This exceptional Class A retail space, located at 87 N Chestnut St in New Paltz, NY 12561, offers 2,020 square feet of prime retail area within a brand new, four-story building (2021 construction). The space boasts large black frame windows and doors, creating an attractive storefront ideal for a discerning tenant. Situated on Route 32 (a busy North/South highway), the property benefits from high visibility and pedestrian traffic. The attractive streetscape features a sculpture, benches, and architectural street lamps. Ample parking is available in an adjacent lot, supplemented by street parking and several EV charging stations. This LEED Platinum certified building offers a total of 63,280 square feet, with three suites. The minimum divisible space is 1,000 square feet, and the maximum contiguous space is 3,750 square feet. The zoning is NBR (Neighborhood Business Residential), and the property sits on a 1.4-acre lot (APN: 3801-086.026-0001-014.112-0000). The building includes elevators and three-phase power. The space is delivered in white box condition, ready for tenant build-out. CAM/NNN expenses are estimated at $6.06 per square foot annually. This is the last available commercial space in the building.

• CAP approach

  CAP return

  Valuation

  6%

  $23,108,008

  6.5%

  $21,330,468

  7%

  $19,806,864

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,975,828

  Geo Method

  $20,835,776

• Alternative Use

  Use

  Valuation

  Residential

  $17,993,048

  Hospitality

  $16,481,535

  Educational

  $13,712,444

  Medical

  $14,184,036

  Retail

  $21,330,468

Location Insight

City

New Paltz

County

Ulster

State

New York

Latitude

41.7545

Longitude

-74.0845

CBSA code

28740

CBSA name

KINGSTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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