54 North Chestnut Street

New Paltz, NY 12561

$765,000
Price
Beds
2,912 Sq. Ft.
$263 / Sq. Ft.
2,912
Sq. Ft.
$263
per Sq. Ft.

Description

This is a great fully leased mixed-use building in the heart of New Paltz. The property includes two ground-floor commercial units, leased to an engineer and a health care provider. Each have 5 pct annual rent increases in their leases. The rear portion of the ground floor is a 1BR apartment, leased through May 2025. The entire second floor is a 4BR apartment, also leased through May 2025. The upstairs 4BR tenants pay their own electric, heating oil, and hot water. The 3 downstairs units are in the...This is a great fully leased mixed-use building in the heart of New Paltz. The property includes two ground-floor commercial units, leased to an engineer and a health care provider. Each have 5 pct annual rent increases in their leases. The rear portion of the ground floor is a 1BR apartment, leased through May 2025. The entire second floor is a 4BR apartment, also leased through May 2025. The upstairs 4BR tenants pay their own electric, heating oil, and hot water. The 3 downstairs units are in the process of being separately metered, with new mini-splits installed this year in the rear apartment. New meter pans and sub panels have also been installed, though they are not yet wired up. There is ample on-site parking behind the building, with 10 parking spaces. The property's B2 zoning was recently changed to allow higher density, so the existing rear 2-story garage could likely be converted or demolished/rebuilt to create additional residential units - a major source of potential upside. The property currently delivers an attractive 8.1 cap rate, even before the individual utility metering is completed and the potential future expansion is undertaken. Great location on high-visibility North Chestnut Street (Rt. 32 N), three blocks north of Main Street. Five minute walk to center of town and 10 minute walk to SUNY campus. Perfect mid-sized New Paltz mixed-use investment opportunity! Financials available upon request.
  1. Listed by Matthew Eyler • New Paltz Properties
    P: (845)-417-8300 C: (845)-417-8300 matteyler@yahoo.com

Amenities

  • Garage
  • Ground Floor
  • On-site Parking
LISTING UPDATED: 12/17/2024 11:59 AM

Property Details for 54 North Chestnut Street

StatusPending
MLS #20243987
Days on Market79
Taxes$12,170 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1965
Lot Size0.26 AC / 11,325 SF
CountyUlster County

Building Information for 54 North Chestnut Street

Stories2Residences4Year Built1965Lot Size0.26 AC / 11,325 SF

Property Information for 54 North Chestnut Street

Summary
Location and General Information
  • Sign On Property YN: Yes
  • Directions: From Main Street in Downtown New Paltz, turn north on North Chestnut Street (Rt 32N). Property is three blocks up, on your right, just before the new Stuart's. Park in the back.
  • Location Tax and Legal:Township: New Paltz
  • Zoning: B2
  • Zoning Description: Flexible mixed-use zoning. Density rules recently changed. Additional units may be possible.
  • MLS Area Major: New Paltz
  • Street Direction Prefix: N
  • Street Name: Chestnut
  • Street Suffix: Street
  • State: NY
  • Zip Code: 12561
  • County: Ulster
  • Latitude: 41.75157
  • Longitude: -74.085205
  • Unparsed Address: 54 N Chestnut Street, New Paltz, NY 12561
  • Street Number: 54
  • Location Tax and Legal:Zoning: B2
  • General Property Information:Flood Plain YN: No
  • General Property Information:Sign On Property YN: Yes
Taxes and HOA
  • Location Tax and Legal:General Tax: $3,631
  • Location Tax and Legal:School Tax: $7,091
  • Location Tax and Legal:Village Tax: $1,448
  • Location Tax and Legal:Tax Annual Amount: $12,170
  • Location Tax and Legal:Tax Assessed Value: $294,800
  • Location Tax and Legal:Tax Lot: 3
  • Location Tax and Legal:Tax Block: 26
  • Tax Assessed Value: 294800
  • Association Fee: $.00
  • Parcel Number: 86.34-3-26
  • Tax Block: 26
  • Tax Lot: 3
  • Tax Annual Amount: $12,170
Parking
  • Parking Total: 10
  • General Property Information:Parking Total: 10
Virtual Tour
  • Total Virtual Tours Count: 0
Property
Lot Information
  • Lot Size Acres: 0.26
  • Total Floor Plans Count: 0
  • Property Type: Commercial Sale
  • Living Area: 2912.0
  • Property Sub Type: Mixed Use
  • Lot Size Units: Acres
  • Lot Size Square Feet: 11325.6
  • General Property Information:Lot Size Acres: 0.26
Property and Assessments
  • Year Built: 1965
  • Year Built Details: Year built is from County records. The building is definitely older than that. An addition was added to the building in 2002.
  • Video Groups: 0
  • General Property Information:Year Built Details: Year built is from County records. The building is definitely older than that. An addition was added to the building in 2002.
Interior and Exterior Features
Interior Features
  • Stories Total: 2
  • Bathrooms Total (Integer): 0
  • Bathrooms Total (Decimal): 0
  • Bathrooms Total (Notational): 0
  • General Property Information:Stories Total: 2
Multi Family
Multi-Family Information
  • Number of Units: 4
  • General Property Information:Number Of Units Total: 4.0
Agent
Sale and Listing
  • DOM: 79
  • MLS Approval Status: Yes
  • Contract Information:Owner Name: Fifty-Four N Chestnut LLC
  • Book Information:Section: 86.34

Property History for 54 North Chestnut Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 54 North Chestnut Street

Taxable ValueLand$42,700Additions$252,100Total$294,800
Home Facts
Total Finished SqFt2,912 SqFtAbove Grade Finished SqFt2,912 SqFtUnfinished Basement SqFt960 SqFtStories2Lot Size11,326 SqFtStyleOffice BuildingYear Built1965ZoningB1CountyULSTERAPN513801 86.34-3-26

Schools near 54 North Chestnut Street

This home is within New Paltz Central School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - 3 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Duzine School
PublicPK to 2

Lenape Elementary School
Public3 to 5

New Paltz Middle School
Public6 to 8

New Paltz Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of New Paltz Properties

The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale or lease on this webpage comes from the the IDX Program of OneKey® MLS, Columbia Greene Northern Dutchess MLS, and Ulster County Board of REALTORS. Real estate listings held by brokerage firms other than Compass are marked with a OneKey® MLS, Columbia Greene Northern Dutchess MLS, or Ulster County Board of REALTORS Logo. Use of these search facilities other than by a consumer seeking to purchase or lease real estate is prohibited. The accuracy of all information is deemed reliable but not guaranteed and should be verified through personal inspection by and/or with appropriate professionals. The data contained herein is copyrighted by the IDX Program of OneKey® MLS, Columbia Greene Northern Dutchess MLS, and Ulster County Board of REALTORS and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Information Copyright 2024, OneKey® MLS, Columbia Greene Northern Dutchess MLS, and Ulster County Board of REALTORS. All rights reserved. Data last updated: 12/17/2024 11:59 AM