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    155 Main High Falls, NY 12440

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    Claim this Listing
    Pending
    $750,000

    COMMERCIAL - High Falls, NY

    Property size:
    2,575 SF
    Lot size:
    2.33 Acres
    Added:
    Oct 10, 2025
    Days on Market:
    193
    Last Refresh:
    Apr 20 at 11:06 am

    Property Features for 155 Main

    General Information

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

    Taxes and HOA fees

    Tax Description
    70.9-2-27 L 4922 @ P 102
    Tax Annual Amount
    6960

    Utilities

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

    Building Details

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

    We can help!

    Listing Contact
    Amy Levine
    Amy Levine

    Listing agent Amy Levine

    Listing office Howard Hanna Rand Realty 304 Wall Street, Kingston, NY

    Listing date Oct 10, 2025

    MLS# 20255006

    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.

    Overview

    Established Restaurant in High Falls

    This property presents an opportunity to own an established restaurant in High Falls, New York. Known as ''The Spy'', the restaurant benefits from visibility and frontage on Route 213, with additional access from Orchard Lane. The current layout features two dining rooms with seating for up to 65 patrons, a screened porch accommodating up to 30, and a custom bar with potential seating for 10. The configuration allows for simultaneous private functions and regular business operations. The property, situated on over 2 acres, includes outdoor space and parking for 35 cars, plus 10 employee spaces. The site offers potential for business expansion, including options for a wedding venue, outdoor dining, tented entertainment, or retail space, subject to necessary approvals. The property has a septic system, municipal water, and a private well. The existing restaurant use is approved. A sweet outbuilding is also located on the premises. The building size is 2575 square feet, and the lot size is 2.33 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Spy Social Eatery ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Kitchen & Bath Showroom Food Market Electronics & Wireless 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?
    Conventional restaurant - Turnkey restaurant with expansion potential in desirable High Falls location.
    Where is this conventional restaurant located?
    The property is located at 155 Main 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 desirable High Falls location with high visibility on Rt 213.; Turnkey operation with seating for up to 65 inside and 30 on a screened porch, plus a **custom bar**.; Over 2 acres of land with expansion potential for outdoor dining, wedding venue, retail, or other uses.
    (914) 388-7393
    We can help!
    Listing Contact
    Amy Levine
    Amy Levine
    Learn More
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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
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