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    155 Main St High Falls, NY 12440

    Sponsored
    For Sale
    Pending
    $750,000

    COMMERCIAL - High Falls, NY

    Property size:
    2,575 SF
    Lot size:
    2.33 Acres
    Days on Market:
    7
    Last Refresh:
    Jan 19 at 4:06 pm

    Property Features for 155 Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    B1
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    70.9
    Fireplace
    1
    Appliances
    Wine Cooler, Refrigerator, Range Hood, Ice Maker, Free-Standing Range, Dishwasher
    Size
    2,575 SF
    Lot size
    2.33 Acres

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Fireplace(s), Ductless (Heating), Baseboard, Hot Water(Heating)
    Cooling system
    Ductless
    Water source
    Public, Well

    Building Details

    Year built
    1880
    Flooring type
    Wood
    Building materials
    Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Amy Levine

    Howard Hanna Rand Realty (845) 338-5252 [email protected]

    Listing agent Amy Levine (914) 388-7393

    Listing date Jan 13, 2026

    Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Established Restaurant in High Falls, NY

    This property presents a rare opportunity to acquire an established restaurant in High Falls, New York. Known as 'The Spy', the restaurant benefits from high visibility and frontage on Route 213, with additional access from Orchard Lane. The location attracts both local and seasonal residents, offering significant business potential. The restaurant spans 2575 square feet and includes two dining rooms with seating for up to 65 patrons, a screened porch accommodating up to 30 guests, and a custom bar with potential seating for 10. The layout is designed to host private functions alongside regular dining service. The property, situated on over 2 acres, features two level areas suitable for business expansion. The Board of Health has approved seating for 65. The site offers possibilities for septic expansion, outdoor dining, tented entertainment, or retail space. Parking is available for 35 cars, with an additional 10 spaces for employees. The property includes a septic system, municipal water, and a private well. Currently approved for restaurant use, the property is being offered AS IS, with any expansion subject to necessary approvals. An outbuilding is also located on the premises. The property is zoned B1 and is located in Ulster County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Spy Social Eatery ... American Restaurant

    Suggested Use

    Restaurant Realty agency Spa & Massage Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Kitchen & Bath Food Market Electronics Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    High Falls
    County
    Ulster
    State
    New York
    Longitude
    -74.131428
    Latitude
    41.827925

    FAQs

    What type of property is this?
    Restaurant - Turnkey restaurant with expansion potential in a desirable Hudson Valley location.
    Where is this restaurant located?
    The property is located at 155 Main St High Falls, NY.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Established restaurant ('The Spy') in the desirable High Falls area with high visibility and frontage on Rt 213.; - Turnkey operation with seating for up to 65 inside, 30 on a screened porch, and 10 at a custom bar; current layout accommodates private functions and regular business simultaneously.; - Over 2 acres of level outdoor space with potential for business expansion.
    (914) 388-7393
    Request Owner's contact information
    155 Main St High Falls, NY 12440
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    High Falls, NY 12440
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    155 Main St High Falls, NY 12440
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    We can help!
    Listing Contact
    Amy Levine
    (914) 388-7393
    Learn more
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