Historic Boutique Hotel with
New
For Sale
$590,000
138 Main St, Jefferson, NY 12093
Nine guest suites, a green-facing entrance, and a separate commercial space support hospitality and additional operations.
Property Size2,756 SF
Price / SF$214.08
Days on Market3
Property Features for 138 Main St
General Information
Standard status
Active
Size
2,756 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$5,485
Building Details
Building Size
2,756 SF
Year Built
1860
Buildings
1
Stories
2
Construction
wood-frame
Listing Agency:
Houlihan Lawrence Inc.
(518) 821-0826
Listed By:
Anthony Dargenzio
(518) 821-0826
Source:
Elliman
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 2 at 3:45AM
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 Houlihan Lawrence Inc.
Investment Insights
Based on property information with market context.
The Virginia Queen Inn is a two-story, four-bay Italianate property built in 1860, with approximately 2,756 square feet across a cross-gabled main block and rear wing. The recently renovated lodging layout includes nine guest suites and eight and a half baths, with two suites on the first floor and seven bedrooms upstairs. Architectural details include wide-plank hardwood floors, arched doorways, high ceilings, pocket doors, a turned-baluster staircase, and a wrap-around porch with an enclosed glass sun porch overlooking the village green.
A legal non-conforming Operating Permit supports boutique hotel use, and the property has no short-term rental restrictions. A separate street-level storefront has its own entrance onto the green and can accommodate a café, bakery, gift shop, or gallery. Systems include a Navien propane hot water system, Generac generator, updated plumbing, main-floor laundry, and a newer metal roof. The property is located at 138 Main St in Jefferson, within the town’s National Register Historic District, near Maple Museum and Middlebrook Café & Bakery.
A legal non-conforming Operating Permit supports boutique hotel use, and the property has no short-term rental restrictions. A separate street-level storefront has its own entrance onto the green and can accommodate a café, bakery, gift shop, or gallery. Systems include a Navien propane hot water system, Generac generator, updated plumbing, main-floor laundry, and a newer metal roof. The property is located at 138 Main St in Jefferson, within the town’s National Register Historic District, near Maple Museum and Middlebrook Café & Bakery.
Key Highlights
- 1860 Italianate inn with approximately 2,756 square feet
- Nine guest suites and eight and a half baths
- Legal non‑conforming Operating Permit for boutique hotel use
Financial Insights For 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 | $51.3k | $18.60 |
| − Vacancy | −$3.7k | −$1.34 |
| EGI | $47.6k | $17.26 |
| − OpEx | −$14.3k | −$5.18 |
| NOI | $33.3k | $12.08 |
2,756 SF · lease $18.60/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$475.7K
$416.3K – $555.0K
NOI $33,300 @ 7.0% cap · market cap 5.64%
Second Best
Mixed Use
$464.0K
$406.0K – $541.4K
NOI $32,483 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$727.1K
$636.2K – $848.3K
NOI $50,898 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,341
Businesses Nearby
Explore this area
Business Placement
Demographics for 12093, NY
1,576
Population
1,107
Households
1.4
Avg Household Size
50
Median Age
27%
College-Educated
92%
High-School Grad
65.3 sq mi
ZIP Area
24
Density / Sq Mi
$61,250
Median Household Income
$50,156
Median Earnings
$883
Median Rent
$162,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Nine guest suites, a green-facing entrance, and a separate commercial space support hospitality and additional operations.
Where is this hotel located?
The property is located at 138 Main St Jefferson, NY.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 1860 Italianate inn with approximately 2,756 square feet; Nine guest suites and eight and a half baths; Legal non‑conforming Operating Permit for boutique hotel use
