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

    5658 2 & 3, Unit 1 Windham, NY 12496

    Sponsored
    For Sale
    $2,500,000

    COMMERCIAL - Windham, NY

    Property size:
    10,994 SF
    Lot size:
    3.56 Acres
    Days on Market:
    46
    Last Refresh:
    Jan 26 at 10:06 pm

    Property Features for 5658 2 & 3

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    01
    Rooms
    Bathroom 8, Bathroom 4, Bathroom 6, Bathroom 5, Bathroom 9, Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 7
    Bathrooms
    9
    APN
    95.01-1-9 / 95.01-1-5
    Appliances
    Refrigerator, Instant Hot Water, Indoor Grill, Ice Maker, Freezer, Dishwasher, Convection Oven
    Size
    10,994 SF
    Lot size
    3.56 Acres

    Utilities

    Water front features
    Stream
    Water front
    1

    Building Details

    Year built
    1986

    We can help!

    Listing Contact
    Regina Tortorella
    Regina Tortorella

    Coldwell Banker Village Green Realty

    Listing agent Regina Tortorella (914) 466-0329

    Listing date Dec 12, 2025

    MLS# 20256020

    Copyright © 2025 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

    Overview

    Profitable Restaurant & Steakhouse Investment

    This commercial property in Windham, NY, presents an opportunity to own a popular and profitable family restaurant and steakhouse. Situated at the intersection of Route 23 and South Street, the property benefits from high visibility and traffic. Located one mile from Windham Mountain Club, it serves as a dining, après-ski, and entertainment destination in the Catskills. The property includes indoor seating for 250 guests, a full-service liquor bar, an enclosed porch with streamside dining, and outdoor seating around a fire-pit with mountain views. An outdoor stage accommodates live music and events. The restaurant is known for casual dining, signature steaks, a sundae bar, and catering services. Longstanding partnerships with Windham Mountain, Hunter Mountain, and wedding venues ensure steady income. The sale includes the fully equipped and operational restaurant and steakhouse, a second restaurant space, a residential home for staff housing or owner's quarters, and a fourth building with EV charging stations. The property features extensive road frontage, a streamside setting along the Batavia Kill with mountain views, and recent upgrades to appliances and systems. The 3.56-acre site offers potential for expansion, including lodging such as tiny homes or A-frame rentals along the stream. The location, visibility, and reputation make this property suitable for investors or restaurateurs seeking a venue in the Catskills.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Map

    City
    Windham
    County
    Greene
    State
    New York
    Longitude
    -74.272762
    Latitude
    42.304545

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    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey restaurant with multiple income streams in the Catskills.
    Where is this conventional restaurant located?
    The property is located at 5658 2 & 3, Unit 1 Windham, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Turnkey, Profitable Restaurant: The Chicken Run offers immediate income.; - Prime Location: High-visibility corner location at the intersection of Route 23 and South Street, near Windham Mountain.; - Multiple Income Streams: Includes The Chicken Run Restaurant, Messina's Restaurant space, residential home (rental potential), and EV charging station building.
    (914) 466-0329
    Request Owner's contact information
    5658 2 & 3, Unit 1 Windham, NY 12496
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    Windham, NY 12496
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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
    5658 2 & 3, Unit 1 Windham, NY 12496
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    We can help!
    Listing Contact
    Regina Tortorella
    Regina Tortorella
    (914) 466-0329
    Learn more
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