Andes, NY Multi-Use
For Sale
$595,500
55 Main St, Andes, NY 13731
Charming multi-use property in Andes, NY with commercial space.
Property Size1,998 SF
Price / SF$298.05
Days on Market131
Property Features for 55 Main St
General Information
Standard status
Active
Size
1,998 SF
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Timberland Properties
Listed By:
Robert Dillon · License #10401341663
(646) 229-8044
Source:
Skinnercnyrealty
Added: May 8
Changed: Sep 8
Last Checked: Sep 14 at 6:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Timberland Properties
Investment Insights
Based on property information with market context.
Located in Andes, NY, this multi-use property offers a commercial space and two short-term rental apartments. The commercial space is currently a successful café featuring natural light, French Doors, and re-purposed Tin Ceilings. A back deck overlooks a stream. The two apartments above the café are well-maintained and generate income through short-term rentals. Each apartment features modern amenities and tasteful decor, with easy access to the downtown area. The property is located in the Catskill region, near hiking, fishing, and skiing. The town includes local shops, art galleries, and seasonal events. The bike score is 10, indicating it is somewhat bikeable, and the walk score is 31, indicating car-dependent surroundings. This property is suitable for living and working, with the potential to run a business while residing in a beautiful setting.
Key Highlights
- Thriving Commercial Space: Includes a successful cafe with a warm, homey charm, natural light, French Doors, re‑purposed Tin Ceilings and a back deck overlooking a stream.
- Two Income‑Generating Apartments: Well‑maintained and consistently generate income through short‑term rentals.
- Multi‑Use Live/Work Opportunity: Ideal for living and working, combining a commercial space with residential units.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,008
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$620,160
$620.2K
Cap Rate 7%
$442,971
$443.0K
Cap Rate 9%
$344,533
$344.5K
Market Conditions
NOI Build-Up for 1,998 SF
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.
Gross rent
$43.2K $21.60/SF
− Vacancy
−$1.8K −$0.91/SF
EGI
$41.3K $20.69/SF
− OpEx
−$10.3K −$5.17/SF
NOI
$31.0K $15.52/SF
Area
Delaware County, NY
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$620,160
Cap Rate 7%
$442,971
Cap Rate 9%
$344,533
Alternative Uses
Best Use
Specialty Retail
$443.0K
$387.6K – $516.8K
NOI $31,008 @ 7.0% cap · market cap 5.21%
Second Best
Mixed Use
$275.7K
$241.3K – $321.7K
NOI $19,301 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$980.3K
$857.7K – $1.14M
NOI $68,619 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 13731, NY
949
Population
1,165
Households
0.8
Avg Household Size
60
Median Age
32%
College-Educated
96%
High-School Grad
89.8 sq mi
ZIP Area
11
Density / Sq Mi
$76,429
Median Household Income
$52,622
Median Earnings
$1,000
Median Rent
$270,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Charming multi-use property in Andes, NY with commercial space.
Where is this mixed-use property located?
The property is located at 55 Main St Andes, NY.
What is the asking price?
The asking price for this property is $595,500.
What are key features of this property?
This property features: Thriving Commercial Space: Includes a successful cafe with a warm, homey charm, natural light, French Doors, re‑purposed Tin Ceilings and a back deck overlooking a stream.; Two Income‑Generating Apartments: Well‑maintained and consistently generate income through short‑term rentals.; Multi‑Use Live/Work Opportunity: Ideal for living and working, combining a commercial space with residential units.
