500 Main StNew Paltz, NY 12561

Property Details for 500 Main St

Year built

1965

Lot size

1.70 AC

Property size (Sq ft)

608 SF

Zone code

B2

Property type

Banks

APN

513889 87.9-2-21.120

APU

513889879221120

Description

This exceptional 2.11-acre commercial development site presents a unique investment opportunity in the thriving town of New Paltz, New York. Located at the highly visible intersection of Route 299 and S Ohioville Road, this property benefits from a signalized corner location, ensuring maximum exposure for any future development. Its strategic position just off I-87 Exit 18 provides easy access to major transportation routes, enhancing its appeal to a wide range of businesses. The site is zoned Gateway Hamlet (GH) Commercial, offering flexibility for various development projects. Existing infrastructure includes Central Hudson electric service to the site. While the previous occupant, the College Diner, utilized a drilled well and septic system, the property's proximity to a Central Hudson natural gas line on Route 299 offers convenient utility access for future construction. This prime location, combined with its generous size and favorable zoning, makes this a truly exceptional opportunity for investors seeking high-impact commercial development in a vibrant and growing community. The asking price for this exceptional property is $2,300,000. The address is 500 Main St, New Paltz, NY 12561, in Ulster County.

• CAP approach

  CAP return

  Valuation

  6%

  $222,024

  6.5%

  $204,945

  7%

  $190,306

• Comparable approach

  Method

  Valuation

  Relative Method

  $201,538

  Geo Method

  $200,192

• Alternative Use

  Use

  Valuation

  Residential

  $172,879

  Hospitality

  $158,356

  Educational

  $131,750

  Medical

  $136,282

  Retail

  $204,945

Location Insight

City

New Paltz

County

Ulster

State

New York

Latitude

41.7397

Longitude

-74.056

CBSA code

28740

CBSA name

KINGSTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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