Mixed-Use Building with
For Sale
$595,500
55 Main Street, Andes, NY 13731
Renovated commercial space with two short-term rental apartments creates a flexible live-work configuration.
Property Size1,998 SF
Days on Market100
Property Features for 55 Main Street
General Information
Standard status
Active
Size
1,998 SF
Property subtype
Commercial
Zoning
01, Commercial
Taxes and HOA fees
Annual Taxes
$1,785
Building Details
Building Size
1,998 SF
Year Built
1900
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Timberland Properties
(646) 229-8044
Listed By:
Robert Dillon · License #10401341663
(646) 229-8044
Source:
Homeprocny
Added: May 1
Changed: Aug 7
Last Checked: Aug 7 at 2:59AM
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.
Built in 1900, this multi-use property combines a ground-level café with two apartments on the floors above. The commercial area includes natural light, French doors, repurposed tin ceilings, and access to a rear deck overlooking a stream. Restoration and renovation work has been completed throughout the building, while the apartments provide furnished short-term rental accommodations with individual character and access to downtown Andes.
Located at 55 Main Street in Andes, the property is positioned within a Catskills community known for local shops, art galleries, seasonal events, and outdoor recreation including hiking, fishing, and skiing. The property is identified as 01, Commercial zoning and offers a combination of commercial and residential-use components in one building.
Located at 55 Main Street in Andes, the property is positioned within a Catskills community known for local shops, art galleries, seasonal events, and outdoor recreation including hiking, fishing, and skiing. The property is identified as 01, Commercial zoning and offers a combination of commercial and residential-use components in one building.
Key Highlights
- Ground‑level café with two apartments above
- Two short‑term rental apartments
- Rear deck overlooking a stream
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
Office B
$838.5K
$733.7K – $978.3K
NOI $58,697 @ 7.0% cap · market cap 9.86%
Second Best
Specialty Retail
$443.0K
$387.6K – $516.8K
NOI $31,008 @ 7.0% cap · market cap 5.21%
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
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial space with two short-term rental apartments creates a flexible live-work configuration.
Where is this mixed-use property located?
The property is located at 55 Main Street 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: Ground‑level café with two apartments above; Two short‑term rental apartments; Rear deck overlooking a stream
