Live-Work Short-Term Rental Building with
For Sale
$595,500
55 Main Street, Andes, NY 13731
COMMERCIAL - Andes, NY
Property Size1,998 SF
Lot Size0.09 Acres
Price / SF$298.05
Days on Market108
Property Features for 55 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
01
Zoning description
Commercial
Lot features
Rectangular, Rectangular Lot
Elementary school district
Andes
Middle school district
Andes
High school district
Andes
Subdivision
Andes-122000
Standard status
Active
APN
122000-259-010-0004-007-000
Size
1,998 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
1785
Utilities
Sewer type
Public Sewer
Heating system
Oil, Zoned, Forced Air
Cooling system
Zoned
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Building materials
Block, Stone, StructuralInsulatedPanels, WoodSiding
Roof type
Asphalt
Listing Agency:
Coldwell Banker Timberland Properties · Coldwell Banker Real Estate
(845) 586-3321
Listed By:
Robert Dillon · License #10401341663
(646) 229-8044
Added: May 1
Changed: Aug 4
Last Checked: Aug 16 at 2:06PM
MLS# R1677860
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work building combines a cafe space on the ground level with two short-term rental apartments above. The cafe has been transformed into a successful setup featuring natural light, French doors, and re-purposed tin ceilings, plus a back deck overlooking a stream.
The two apartments sit above the cafe and are described as well-maintained, each with its own character and modern amenities. The units have generated income through short-term rentals, and the layout offers flexibility if you choose to live in one while renting the other.
The property is on a 0.09-acre lot and has a total size of 1,998 square feet. Built in 1900, it uses block, stone, structural insulated panels, and wood siding. Systems include zoned forced-air heating with oil fuel and zoned cooling. Utilities are listed as public water and public sewer, and the roof is asphalt.
The two apartments sit above the cafe and are described as well-maintained, each with its own character and modern amenities. The units have generated income through short-term rentals, and the layout offers flexibility if you choose to live in one while renting the other.
The property is on a 0.09-acre lot and has a total size of 1,998 square feet. Built in 1900, it uses block, stone, structural insulated panels, and wood siding. Systems include zoned forced-air heating with oil fuel and zoned cooling. Utilities are listed as public water and public sewer, and the roof is asphalt.
Key Highlights
- Cafe space with natural light, French doors, and re‑purposed tin ceilings
- Two short‑term rental apartments above the cafe
- Back 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
Property Profile
Current Use
Lease Details
2
Residential units
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?
Short term rental property - Live-work property with a cafe on the ground level and two short-term rental apartments above.
Where is this short term rental 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: Cafe space with natural light, French doors, and re‑purposed tin ceilings; Two short‑term rental apartments above the cafe; Back deck overlooking a stream
