Two commercial spaces; restaurant and retail sales on first floor. Two 4 bedroom apartments on second floor. Restaurant (Zaytune Cafe) has very good reviews for Mediterranean food, and Heddy Teddy is a successful gift shop. Zaytune has 5 year lease (6/21 to 5/26) w/ renewal option for additional 5 years. Zaytune pays $3,675 as of June 2022). Heady Teddy pays $3,150 per month. Tenants on second floor pay $2,980 x 2 apartments for $5,960 per month. Building total rent is $12.785 per month or $153,420 per year. On numbers presented herein, would yield $2.156M at 7 cap rate.
More Info
Basic Information
Acreage0.11
Business NameZaytune Cafe+Heady Teddy
Lfd WaterMUNICIPAL
List Price$1,685,000
MLS Number20230646
MlsStatusACTIVE
Property TypeMixed Use
SewerMUNICIPAL
Square Feet4,560
Units4
Year Built1890
Other
ElectricityMIXED
Lot8
Lot Dimensions41x110x51xvaries
Lot SiteHAMLET/VILLAGE
Short SaleNo
Tennant PaysALL UTILITIES
View Count16
Location
Address55 Main Street
Area TownNEW PALTZ
Building Number55
Elementary SchoolDUZINE K-2
High School DistrictNEW PALTZ
StateNY
StreetMain
Street DesignationStreet
TownNew Paltz
Zip12561
ZoneB2
Legal
Annual Expenses$25,050
ForeclosureNo
General Tax$4,390
School Tax$4,820
Total Taxes11076
Viltax$1,866
Building
BasementOTHER/SEE REMARKS
ConstructionFRAME/STICK
Garage Parking ExtrasLOT
Property
Current Business TypeAPARTMENT INCLUDED, CRD/GIFT/NOVELTY
