1-3 Water Street, New Paltz, NY 12561

• 2,332 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

June 26, 2026 at 2:20PM

Listing Office:

eXp Realty : 888-276-0630

MLS ID:

986948

Interior

• Basement: Full
• A/C: ElectricWall/Window Unit(s)
• Heating: ENERGY STAR Qualified EquipmentOilPropane

Exterior

• Parking: DrivewayParking Lot

Location

• Originating MLS: onekey2
• County: Ulster County

Lot

• Zoning: 3801-086.033-0003-001.000-0000
• View: Mountain(s)PanoramicRiverSkyline

Utilities

• Utilities: Electricity Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2