Historic Hotel, Pub, and
For Sale
$1,650,000
59 W Main Street, Broadalbin, NY 12025
Renovated hotel, pub, and eatery with strong financials.
Property Size18,092 SF
Price / SF$91.20
Days on Market493
Property Features for 59 W Main Street
General Information
Standard status
Active
Size
18,092 SF
Taxes and HOA fees
Annual Taxes
$13,416
Listing Agency:
CHAD MAJEWSKI REAL ESTATE
Listed By:
CHAD J MAJEWSKI
Source:
Corcoran
Added: Apr 27, 2025
Changed: Mar 16
Last Checked: Aug 31 at 7:33PM
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 CHAD MAJEWSKI REAL ESTATE
Investment Insights
Based on property information with market context.
The Historic Broadalbin Hotel Pub Eatery, established in 1854, offers old-world charm and has been recently renovated. This fully operational hotel is currently booking into 2026. The property features 12 rooms, along with a 2-bedroom owner's suite. A large, modern kitchen is equipped to cater to both small and large gatherings. The banquet hall has a capacity of over 100 people, while the pub and lounge area can accommodate 70 or more. The property also includes seasonal outdoor porches and verandas. The vacant third floor presents an opportunity for additional rooms or a larger owner's suite. The business benefits from a loyal customer base, solid financials, and a strong occupancy rate. The property size is 18,092 square feet.
Key Highlights
- Fully operational and booking into 2026, indicating immediate income potential and established business.
- Recently renovated from top to bottom**, minimizing immediate maintenance costs and offering modern amenities.
- Well‑established hotel with 12 rooms, a banquet hall (100+ capacity), and a pub (70+ capacity), providing diverse revenue streams.
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
$69,609
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
4.22%
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%
$1,392,180
$1.4M
Cap Rate 7%
$994,414
$994.4K
Cap Rate 9%
$773,433
$773.4K
Market Conditions
NOI Build-Up for 18,092 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
$325.7K $18.00/SF
− Vacancy
−$179.1K −$9.90/SF
EGI
$146.5K $8.10/SF
− OpEx
−$76.9K −$4.25/SF
NOI
$69.6K $3.85/SF
Area
Fulton County, NY
Vacancy
55.00%
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%
$1,392,180
Cap Rate 7%
$994,414
Cap Rate 9%
$773,433
Alternative Uses
Best Use
Specialty Retail
$3.63M
$3.18M – $4.24M
NOI $254,262 @ 7.0% cap · market cap 15.41%
Second Best
Retail
$2.43M
$2.13M – $2.84M
NOI $170,340 @ 7.0% cap · market cap 10.32%
Theoretical Best
Multifamily LT 5
$12.51M
$10.94M – $14.59M
NOI $875,515 @ 7.0% cap · market cap 53.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Tanner Lumber Inc.
Home Improvements & Furnishings
1,262 visits/mo
0.0 miles
Demographics for 12025, NY
5,356
Population
3,211
Households
1.7
Avg Household Size
45
Median Age
31%
College-Educated
95%
High-School Grad
41.9 sq mi
ZIP Area
128
Density / Sq Mi
$71,732
Median Household Income
$44,344
Median Earnings
$882
Median Rent
$222,900
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 - Renovated hotel, pub, and eatery with strong financials.
Where is this hotel located?
The property is located at 59 W Main Street Broadalbin, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully operational and booking into 2026, indicating immediate income potential and established business.; Recently renovated from top to bottom**, minimizing immediate maintenance costs and offering modern amenities.; Well‑established hotel with 12 rooms, a banquet hall (100+ capacity), and a pub (70+ capacity), providing diverse revenue streams.
