1 Water St 4,260 SF Retail Building New Paltz, NY 12561 $3,640,000 ($854.46/SF)

This 4,260 sq ft building is set on a prime .22-acre lot with direct river frontage on the Wallkill River, offering unbeatable visibility, endless foot traffic, and direct access to the Rail Trail and River-to-Ridge Trail. This location could not be better: just steps to Water Street Market, surrounded by shops, restaurants, and all that downtown New Paltz has to offer. A brand-new boutique hotel is currently being built next door, ensuring even greater traffic and exposure for years to come. The property features a fully remodeled ground-floor commercial space, ideal for attracting both local clientele and year-round tourist business. Upstairs, you’ll find two residential apartments - a spacious 4-bedroom unit and a 2-bedroom unit - both sharing an expansive deck with breathtaking views of the Wallkill River and the Shawangunk Ridge. Bonus: this offering includes not just the building lot, but also a separate, buildable .41-acre lot across the street - currently used for parking & sculpture garden but, offering tremendous potential for future development. With riverfront access, incredible exposure, and unmatched location, the future of New Paltz is here. Own a true piece of the Village - the possibilities are endless!
Commercial tenant pays $6,760/month on a triple-net lease and covers 0.75% of property taxes. Commercial space to be delivered vacant. Upstairs residential units include a 4-bed apartment at $3,200/month and a 2-bed apartment at $1,800/month (lease ends 5/31/26). Sale includes bonus .41-acre buildable lot across the street with endless development potential. Recent updates include a 1-year-old hot water heater (left side) and a new propane furnace. 1.5% New Paltz Preservation Transfer Tax applies. 48-hour minimum notice required for all showings. Commercial space currently occupied. Being Sold As-Is. Contact listing agent to schedule; listing agent will accompany all showings. Proof of funds or pre-approval required prior to confirming appointments. Personal Interest. Buyer’s agent to verify all information.