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1-3 Water Street

New Paltz, NY 12561

$2,495,000 PRICE
2,332 Sqft
1965 Built
$1,070 Price/Sqft

Location, Opportunity, and Development Potential in the heart of downtown New Paltz. Welcome to 1-3 Water Street, a mixed-use riverfront property offering immediate income, owner-user flexibility, and rare development potential within the business district. Set on a .22-acre parcel along the Wallkill River, this 2,332 sq ft mixed-use commercial building is steps from everything downtown New Paltz has to offer, including Water Street Market, the Rail Trail, the River-to-Ridge Trail system, SUNY New Paltz, and the new New Paltz Way Boutique Hotel, opening this July, offering strong visibility and consistent foot traffic. The ground-floor 1,208 sq ft commercial space is vacant and features new energy-efficient mini-split systems. The commercial space supports a variety of uses including retail and boutique commercial concepts. Above the commercial space are two residential apartments (4-bedroom and 2-bedroom), both currently rented, generating immediate and stable income. Each apartment has access to a shared riverfront deck overlooking the Wallkill River and Shawangunk Mountains. INCLUDED is a separate .41-acre buildable parcel directly across the street, currently used for parking and a sculpture garden. This buildable lot is zoned for mixed-use development up to three stories. This .41-acre parcel represents a rare downtown Village development opportunity with significant long-term upside and strong commercial development potential. It is the last remaining non-developed, buildable lot within the downtown business corridor of New Paltz. A unique offering combining income-producing property, owner-user potential, and a highly desirable development parcel in one of the Hudson Valley’s most active commercial corridors.

Additional Information

ADDITIONAL INFORMATION

BASEMENT DESCRIPTION: Full
DAYS ON MARKET: 48
ON MARKET DATE: 2026-04-20
PARKING: Driveway, Parking Lot
SEWER: Public Sewer
TAX AMOUNT: $13,874
TYPE: Commercial Sale
UNIT COUNT: 3
UTILITIES: Electricity Connected
VIEW: Mountain(s), Panoramic, River, Skyline
YEAR BUILT: 1965

INTERIOR/EXTERIOR FEATURES

CONSTRUCTION MATERIALS: Frame
COOLING: Electric, Wall/Window Unit(s)
HEAT: ENERGY STAR Qualified Equipment, Oil, Propane

Listing Courtesy of Jacob Cohen of eXp Realty (888.276.0630).

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Location for 1-3 Water Street, New Paltz, NY

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Community

Hudson Valley

, New York

Amid the picturesque landscapes of New York State, the Hudson Valley captivates with its natural beauty and historic charm. This region, just north of New York City, is renowned for its picturesque river...

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Julia B. Fee Sotheby's International Realty

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