Mixed-Use Building with
New
For Sale
$365,000
Pending
33 Main St, Andes, NY 13731
Three apartments accompany a ground-floor commercial space in a village building with period details.
Property Size2,808 SF
Days on Market2
Property Features for 33 Main St
General Information
Standard status
Pending
Size
2,808 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,078
Building Details
Building Size
2,808 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Coldwell Banker Real Estate
Listed By:
Jeffrey Ashton · License #40AS1141313
(973) 650-0035
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:09PM
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 Real Estate
Investment Insights
Based on property information with market context.
Set at 33 Main St in Andes, this mixed-use building combines a storefront with three apartments. Period details remain part of the property’s character, and the building dates to 1900. The commercial space is described as suitable for retail, office, studio, or other permitted commercial uses.
The property sits along a stream within the village and is near local restaurants, cafés, galleries, shops, and other amenities. Its central Main Street setting places commercial and residential components together in one building.
The property sits along a stream within the village and is near local restaurants, cafés, galleries, shops, and other amenities. Its central Main Street setting places commercial and residential components together in one building.
Key Highlights
- Storefront paired with three residential apartments
- Commercial space may accommodate retail, office, studio, or other permitted commercial uses
- Built in 1900
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
$29,804
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
8.17%
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%
$596,080
$596.1K
Cap Rate 7%
$425,771
$425.8K
Cap Rate 9%
$331,156
$331.2K
Market Conditions
NOI Build-Up for 2,808 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
$57.3K $20.40/SF
− Vacancy
−$3.1K −$1.10/SF
EGI
$54.2K $19.30/SF
− OpEx
−$24.4K −$8.68/SF
NOI
$29.8K $10.61/SF
Area
Delaware County, NY
Vacancy
5.40%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$596,080
Cap Rate 7%
$425,771
Cap Rate 9%
$331,156
Alternative Uses
Best Use
Retail
$677.9K
$593.2K – $790.9K
NOI $47,453 @ 7.0% cap · market cap 13.00%
Second Best
Apartment 5plus
$425.8K
$372.6K – $496.7K
NOI $29,804 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,438 @ 7.0% cap · market cap 26.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three apartments accompany a ground-floor commercial space in a village building with period details.
Where is this mixed-use property located?
The property is located at 33 Main St Andes, NY.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Storefront paired with three residential apartments; Commercial space may accommodate retail, office, studio, or other permitted commercial uses; Built in 1900
