222 Main St New Paltz, NY 12561

Opportunity to develop the best remaining Main Street lot in New Paltz! This offering includes two adjacent lots, totaling 0.64 acres, on the corner of Main Street and Joalyn Road in central New Paltz. The larger lot (SBL #86.42-4-5) is located in the Village of New Paltz and enjoys high-density B2... mixed-use zoning. The zoning allows 85 pct. lot coverage, with zero front yard setbacks and a 3-story building up to 40 feet at the roof peak. The adjacent corner lot (SBL #86.12-1-1) is in the Town of New Paltz and can potentially be merged with the primary lot through an annexation process, maximizing development potential. The corner location of the combined lot provides access to rear parking from Joalyn Road, allowing development along the entire 150 feet of Main Street frontage. Outstanding visibility from 19,000 passing vehicles per day, combined with rare on-site parking, make this an excellent location for ground-floor commercial tenants. Floors 2, 3, and the rear portion of the ground floor can be developed as apartments. There is tremendous unmet demand for residential housing in New Paltz, with outstanding income potential. It is important to note that the main lot is currently improved with a 2,141 square foot wellness-oriented office building. The building includes 10 treatment rooms, along with many bathrooms and utility rooms with sinks. Current parking for approximately 20 vehicles. A buyer could occupy this building for their own use or lease the space out to individual wellness practitioners. This leasing strategy would help to carry the property expenses while development plans are approved. You will not find a better development site in New Paltz! Continue reading