Restaurant Property with Office
For Sale
$375,000
4704 Route 9 S, Plattsburgh, NY 12901
Commercial Sale, Plattsburgh, NY
Property Size2,248 SF
Lot Size1.60 Acres
Price / SF$166.81
Days on Market1067
Property Features for 4704 Route 9 S
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Exterior features
Lighting
Appliances
Cooktop, Dishwasher, Free-Standing Gas Oven, Freezer, Gas Range, Ice Maker, Microwave, Refrigerator, Stainless Steel Appliance(s), Water Heater
Elementary school district
Peru
Middle school district
Peru
High school district
Peru
Directions
Route 9 south of the Air Base and north of Cliff Haven
Subdivision
City of Plattsburgh
Standard status
Active
Size
2,248 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Annual Amount
5000
Utilities
Utilities
Cable Available
Heating system
Propane (Heating), Forced Air
Cooling system
Central Air
Building Details
Year built
2012
Number of units
2
Flooring type
Tile
Building materials
Fiber Cement, 2x6 Walls
Roof type
Composition
Listing Agency:
A-M Farrell Real Estate
Listed By:
Anne-Marie Farrell
(518) 572-4944
Added: Oct 9, 2023
Changed: Sep 4
Last Checked: Sep 9 at 1:06AM
MLS# 200686
Copyright © 2026 Adirondack Champlain Valley MLS. 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.
Set on 1.6 acres, this restaurant property includes two separate buildings. The restaurant was completely rebuilt in 2012 and provides seating for 70, while the second building was constructed in 2018 and is used for office space and second-floor storage. A stand-alone walk-in freezer and food-service equipment are included with the real estate. The property also features a parking lot, tile flooring, forced-air propane heat, central air, and cable availability.
Located at 4704 Route 9 S in Plattsburgh, the site is within a few miles of three golf courses, Lake Champlain, a public boat launch, beaches, marinas, and the international airport. Surrounding development includes residential neighborhoods, businesses, industrial and manufacturing complexes, and warehousing associated with the old Air Force Base.
Located at 4704 Route 9 S in Plattsburgh, the site is within a few miles of three golf courses, Lake Champlain, a public boat launch, beaches, marinas, and the international airport. Surrounding development includes residential neighborhoods, businesses, industrial and manufacturing complexes, and warehousing associated with the old Air Force Base.
Key Highlights
- 1.6‑acre commercial restaurant property with two separate buildings
- Restaurant completely rebuilt in 2012 with 70 seats
- Second building constructed in 2018 with office space and second‑floor storage
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
$31,562
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
8.42%
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%
$631,240
$631.2K
Cap Rate 7%
$450,886
$450.9K
Cap Rate 9%
$350,689
$350.7K
Market Conditions
NOI Build-Up for 2,248 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
$54.0K $24.00/SF
− Vacancy
−$11.9K −$5.28/SF
EGI
$42.1K $18.72/SF
− OpEx
−$10.5K −$4.68/SF
NOI
$31.6K $14.04/SF
Area
Clinton County, NY
Vacancy
22.00%
Lease Rate
$24.00 /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%
$631,240
Cap Rate 7%
$450,886
Cap Rate 9%
$350,689
Alternative Uses
Best Use
Office B
$450.9K
$394.5K – $526.0K
NOI $31,562 @ 7.0% cap · market cap 8.42%
Second Best
Specialty Retail
$415.3K
$363.4K – $484.6K
NOI $29,073 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$619.7K
$542.2K – $723.0K
NOI $43,377 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
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?
Conventional restaurant - Restaurant improvements, office and storage space, parking, and food-service equipment support multiple on-site functions.
Where is this conventional restaurant located?
The property is located at 4704 Route 9 S Plattsburgh, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1.6‑acre commercial restaurant property with two separate buildings; Restaurant completely rebuilt in 2012 with 70 seats; Second building constructed in 2018 with office space and second‑floor storage
