Newly Renovated Bed & Breakfast
For Sale
$715,000
Pending
196 Main St, North Creek, NY 12853
Recently renovated B&B/family home with a granite-topped kitchen, radiant heat, and fully renovated tile bathrooms.
Property Size3,098 SF
Days on Market1536
Property Features for 196 Main St
General Information
Standard status
Pending
Size
3,098 SF
Taxes and HOA fees
Annual Taxes
$5,643
Amenities
granite countertops
farmhouse sink
butcher block island
custom hickory cabinets
radiant floor heating
pond with dock
seasonal cabin
Listing Agency:
RE/MAX North Country
Listed By:
Tina Calkins Covey · License #31C00892693
(518) 563-1200
Source:
Exprealty
Added: Jun 25, 2022
Changed: Aug 20
Last Checked: Sep 6 at 12:36PM
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 RE/MAX North Country
Investment Insights
Based on property information with market context.
This newly renovated bed & breakfast or family home features a spacious kitchen with granite countertops, a farmhouse sink, a large butcher block wet island, and custom hickory cabinets that extend to the ceiling. In-floor radiant heat is a recent improvement, and each bedroom has been freshly painted with fully renovated tile bathrooms. The property also includes two staircases to the second story.
Additional outdoor features include a pond with a dock and a seasonal cabin. The listing notes proximity to Gore Mountain with mountain views, with the Revolution Rail rail bikes about a half mile away, and Lake George roughly 30 minutes away. The Goose Pond Inn is described as convenient for outdoor activities such as biking, white-water rafting, hiking, and kayaking.
A hot tub is noted as negotiable as part of the offering.
Additional outdoor features include a pond with a dock and a seasonal cabin. The listing notes proximity to Gore Mountain with mountain views, with the Revolution Rail rail bikes about a half mile away, and Lake George roughly 30 minutes away. The Goose Pond Inn is described as convenient for outdoor activities such as biking, white-water rafting, hiking, and kayaking.
A hot tub is noted as negotiable as part of the offering.
Key Highlights
- Recently renovated bed & breakfast or family home
- Spacious kitchen with granite countertops, farmhouse sink, wet island with large butcher block top, and custom hickory cabinets
- In‑floor radiant heat plus freshly painted bedrooms
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
$23,839
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
3.33%
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%
$476,780
$476.8K
Cap Rate 7%
$340,557
$340.6K
Cap Rate 9%
$264,878
$264.9K
Market Conditions
NOI Build-Up for 3,098 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
$55.8K $18.00/SF
− Vacancy
−$5.6K −$1.80/SF
EGI
$50.2K $16.20/SF
− OpEx
−$26.3K −$8.51/SF
NOI
$23.8K $7.69/SF
Area
Warren County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$476,780
Cap Rate 7%
$340,557
Cap Rate 9%
$264,878
Alternative Uses
Best Use
Hotel Hospitality
$340.6K
$298.0K – $397.3K
NOI $23,839 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$927.3K
$811.4K – $1.08M
NOI $64,909 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12853, NY
1,489
Population
1,070
Households
1.4
Avg Household Size
54
Median Age
22%
College-Educated
88%
High-School Grad
79.9 sq mi
ZIP Area
19
Density / Sq Mi
$58,850
Median Household Income
$32,264
Median Earnings
$938
Median Rent
$199,000
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Heads In Beds — 191 Main St, North Creek, NY 12853
- Goose Pond Inn B & B — 196 Main St, North Creek, NY 12853
- Suites by Hudson River Trading Company — 290 main st, north creek, ny 12853
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Recently renovated B&B/family home with a granite-topped kitchen, radiant heat, and fully renovated tile bathrooms.
Where is this bed & breakfast located?
The property is located at 196 Main St North Creek, NY.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Recently renovated bed & breakfast or family home; Spacious kitchen with granite countertops, farmhouse sink, wet island with large butcher block top, and custom hickory cabinets; In‑floor radiant heat plus freshly painted bedrooms
