NEW PALTZ NY - ID: 20202821
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  • Price: $985,000
  • Bedrooms: 5
  • Sq. Feet: 6,750
  • Acreage: 0.78
  • Year Built: 1974
  • School District: NEW PALTZ
  • CONTACT
    Hello Dolly Real Estate
    800.379.2112
    dolly@hellodollyrealestate.com
Property Type: Office

Description: Prime 6, 750-square-foot multi-tenant office building in the Village of New Paltz. High-visibility corner lot at North Chestnut (Rt 32 N) and Henry W. DuBois Drive, with 7, 400 passing vehicles per day. A new Stuart's is being built directly across Henry W. DuBois from the building, with a new traffic light that will enhance exposure, convenience, and asset value. Zero Place, a 46-unit state-of-the-art residential development, is nearing completion one block to the north, and the Empire Trail rail trail system is being extended along Henry W. DuBois in front of the building. A major renovation of the entire building was completed 10 years ago when the school district moved into the building, including new high-efficiency heat pump HVAC, upgraded electrical service, new wiring, new windows, fire safety system, and high-speed fiber optic connectivity. Four bathrooms, plus many additional sinks, with municipal water and sewer. Approximately 30 off-street parking spaces. Current tenants include popular beauty salon JEM Hair Studio, custom screen printer Hudson Valley Impressions, and Justino Chiropractic Wellness Center. All tenants are currently paying rent. There is 1, 800 sf of available space that can either be leased out to new tenants or utilized by a user/buyer. Contact listing broker for full financials. This is a high quality building with significant value-add opportunities. Concepts include re-configuring the space to create smaller office suites that can achieve premium rents per square foot - there are no load bearing internal walls, so the there is complete design flexibility. The building is also very well suited to single-tenant occupancy (that is what it was designed for by the school district). An office condo or co-op strategy could also be very profitable. With 0.78 acres to work with, the property is a great mixed-use development site - either now, or in the future. High-density NBR zoning supports a development of significant scope. The offering price of less than $150 psf is a great deal, especially given the extremely positive market trends unfolding in New Paltz, the outstanding location of the property, and the upgraded, high-performance mechanical systems in the building.

FEATURES:
NUMBER OF UNITS: 6
ZONE: Nbr
LOT DIMENSIONS: 0.78 Acres

Listing courtesy of: New Paltz Properties / Listing Agent: Matthew Eyler
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