1-3 Water Street

New Paltz, NY 12561

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 courtesy of eXp Realty Jacob@stevensrealtygrp.com


Based on information submitted to the MLS GRID as of 2026-04-20 07:28 PM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.