59 Main Street

Description

Opportunity to own the best mixed-use building and restaurant in New Paltz! The sale includes the building, the Main Street Bistro business, all restaurant equipment, and two upstairs apartments. Very attractive owner financing available to qualified buyers: 25% down payment, 20-year fixed-rate loan, 5% interest rate! With this financing, you can own and operate the building at a similar cost to renting Main Street restaurant space, with all the benefits of long-term ownership. Established in 1993, the Main Street Bistro is one of the most beloved and successful restaurants in the thriving Village of New Paltz. Unbeatable corner location in the heart of the historic dining and shopping district of this charming college town. The Bistro has a large and loyal customer base of SUNY New Paltz students, local residents, and the thousands of tourists that flock to New Paltz each week. New ownership can grow revenues significantly by expanding the catering business and opening for dinner service. Continue the current turn-key operation, or make it your own! Operating expenses and taxes are offset by the two apartments upstairs, including a recently renovated 2BR (rents for $1,500, should be $2,000+) and an adjacent one bedroom unit (rents for $750/mo, increasing to $950 in January, should be $1,350+). Tenants pay heat, hot water, and electricity. The property includes 3 metered off-street parking space maintained by the Village of New Paltz, plus ample loading space at the rear of the building where owner parks car. New high-efficiency mini-split heating/cooling system in Bistro. Full basement is used for restaurant storage and prep, and is not included in the square footage. Absolutely unique opportunity to acquire one of the most iconic and attractive pieces of real estate in New Paltz.

Extras: Note: owner would consider a sale of the Main Street Bistro business separately from the real estate. Call listing broker for details.