Mixed-Use Building with
581 Main Street Hobart, NY 13788
581 Main Street, Hobart, NY, 13788
$299,000
For Sale
$299,000
MULTI_FAMILY - Hobart, NY
Property Size1,344 SF
Lot Size0.13 Acres
Price / SF$222.47
Days on Market51
Property Features for 581 Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
- Exterior features
- PropaneTankLeased
- Appliances
- ElectricWaterHeater
- Standard status
- Active
- APN
- 125201-069-017-0002-007-000
- Size
- 1,344 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3324
Utilities
- Heating system
- Baseboard, Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Carpet, Varies
- Building materials
- WoodSiding
Listing Agency
Frank Lumia Real Estate Plus!, LLC
(607) 746-6029
78 Main St, Delhi, NY
Listed by
Frank Lumia · License #37LU0818789
(607) 746-6029
Added: May 29 Checked: Jul 18 at 12:06 pm
MLS# R1685785
Listing URL
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building was built in 1890 and has been thoughtfully updated, with the ground floor operating as The Coffee Pot breakfast and lunch cafe for more than two decades. The cafe space is described as fully equipped and operational, positioned for food service and retail use. Upstairs, the property includes two residential apartments, providing rental income alongside the commercial operation.
The property is located at 581 East Main Street in Hobart, Delaware County, and is described as sitting at the most visible corner in Hobart’s Book Village, a destination tied to tourism, outdoor recreation, and second-home ownership. The seller also notes that seller financing is available for well-qualified buyers.
With both a functioning cafe and two separate residential units, the layout supports an owner-operator concept where commercial income and apartment rent can help offset operating costs.
The property is located at 581 East Main Street in Hobart, Delaware County, and is described as sitting at the most visible corner in Hobart’s Book Village, a destination tied to tourism, outdoor recreation, and second-home ownership. The seller also notes that seller financing is available for well-qualified buyers.
With both a functioning cafe and two separate residential units, the layout supports an owner-operator concept where commercial income and apartment rent can help offset operating costs.
Key Highlights
- Built in 1890 with wood siding and electric baseboard heating
- Mixed‑use building with ground‑floor commercial space and two upstairs residential apartments
- Ground floor has operated as The Coffee Pot breakfast and lunch cafe for over two decades
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.0k | $21.60 |
| − Vacancy | −$1.2k | −$0.91 |
| EGI | $27.8k | $20.69 |
| − OpEx | −$7.0k | −$5.17 |
| NOI | $20.9k | $15.52 |
1,344 SF · lease $21.60/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$298.0K
$260.7K – $347.6K
NOI $20,858 @ 7.0% cap · market cap 6.98%
Second Best
Multifamily LT 5
$222.7K
$194.9K – $259.8K
NOI $15,589 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$659.4K
$577.0K – $769.3K
NOI $46,158 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Coffee Pot
Cafe & Coffee Shop
FAQs
What type of property is this?
Duplex - Built in 1890, this mixed-use property has a ground-floor cafe and two upstairs residential apartments.
Where is this duplex located?
The property is located at 581 Main Street Hobart, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Built in 1890 with wood siding and electric baseboard heating; Mixed‑use building with ground‑floor commercial space and two upstairs residential apartments; Ground floor has operated as The Coffee Pot breakfast and lunch cafe for over two decades
