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    The Largest CRE Database in the US with Over 1 Million Listings

    36422 State Highway 23 Roxbury, NY 12434

    Sponsored
    For Sale
    $595,000

    COMMERCIAL - Roxbury, NY

    Property size:
    2,472 SF
    Lot size:
    0.75 Acres
    Days on Market:
    37
    Last Refresh:
    Feb 5 at 7:06 pm

    Property Features for 36422 State Highway 23

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    422
    Rooms
    Bathroom 2, Bathroom 1
    Bathrooms
    2
    APN
    91.2-9-5
    Appliances
    Water Heater, Refrigerator, Microwave, Freezer, Dishwasher
    Size
    2,472 SF
    Lot size
    0.75 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    2014
    Floors in Building
    1
    Building materials
    Brick, Frame, Metal Siding
    Roof type
    Asphalt, Shingle

    We can help!

    Listing Contact
    Theodore Banta III
    Theodore Banta III

    RVW Select Properties (518) 466-1219

    Listing agent Theodore Banta III (518) 466-1219

    Listing date Dec 31, 2025

    MLS# 154054

    Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Restaurant Opportunity on State Highway

    Located in Roxbury/Grand Gorge on State Highway 23, this commercial property offers a well-maintained 2,500 sq ft building on 0.75 acres. The property includes ample parking with two driveways and signage. The building features indoor and outdoor dining areas, a full commercial kitchen, and an ice cream station. The established business, Sundaes Restaurant & Tasty Freeze, specializes in steak, burgers, pizza, and ice cream. Outdoor dining is accommodated under a large pavilion, with potential for conversion into an all-season or multi-season indoor/outdoor facility. The property has municipal water and sewer, a security system, current inventory, and equipment. Approved for EV charging stations, with half the cost to be covered by NYSEG. The property provides access to destinations and attractions in the Great Western Catskills, being 20 minutes from Windham Ski Mountain and 30 minutes from Belleayre and Plattekill Ski Mountains.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Spa & Massage Center Real Estate Agency Hotel & Motel Nail Salon Storage Facility Food Market Grocery & Convenience Store Car Rental Facility Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Roxbury
    County
    State
    New York
    Longitude
    -74.50587
    Latitude
    42.369661

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    FAQs

    What type of property is this?
    Restaurant - Established restaurant with indoor/outdoor dining and ample parking.
    Where is this restaurant located?
    The property is located at 36422 State Highway 23 Roxbury, NY.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: - Established and Profitable Business: Includes the operating Sundaes Restaurant & Tasty Freeze with existing inventory, equipment, and a full commercial kitchen.; - Prime Commercial Location: High-profile property on State Highway 23 in Roxbury/Grand Gorge with ample parking and signage.; - Turnkey Operation: Well-maintained 2,500 sq ft building with indoor and outdoor dining (under a large pavilion) ready for immediate use.
    (518) 466-1219
    Request Owner's contact information
    36422 State Highway 23 Roxbury, NY 12434
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    Roxbury, NY 12434
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    36422 State Highway 23 Roxbury, NY 12434
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    We can help!
    Listing Contact
    Theodore Banta III
    Theodore Banta III
    Real Estate License ID: 10311209842
    (518) 466-1219
    Learn more
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