107 Main Street, New Paltz


0 Beds
0 Baths
7,891 Sqft
.16 Acres
0 Garages

Rare opportunity to purchase the finest restaurant location in New Paltz. Sales price includes the Murphy's building and all restaurant fixtures and equipment. Turn-key opportunity! 7,891 square foot building includes large restaurant with full commercial kitchen and outdoor seating, leased four-bedroom upstairs apartment, full basement for restaurant storage and equipment, and attic for additional storage. Strategically located on a bend on Main Street in the center of the Village of New Paltz dining/shopping/nightlife district - unmatched visibility and foot traffic. Restaurant buyer can achieve lower net operating costs than renting, while accumulating equity and participating in asset appreciation. SBA loans available at below 3% interest, with just 10% down. Leased upstairs apartment generates $2,800 per month, covering building operating costs. Significant recent upgrades include new main roof, four large restaurant AC units, and an upgraded POS system. New rear roof being installed now. There are only five bars in New Paltz (including Murphy's) with a "grandfathered" 4:00 AM liquor license - significant revenue generated by the late night bar crowd. Daytime occupancy of 95 and nighttime occupancy of 178 delivers the scale necessary for a profitable restaurant/bar operation. Stand-alone building has superior sunlight and Main Street views vs. competing Main Street restaurants, creating an exceptionally pleasant dining and drinking environment. Kitchen equipment, sound system, flat screen TVs, plates, glasses, cutlery, furniture, and all other restaurant equipment (other than food and alcohol) included in the purchase.

Property History
Price Reduced from $1,800,000 to $1,600,000

Mortage Calculator

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

Purchase & Financing Information