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    Commercial Property in the Catskills Title is generated by Realmo AI

    76 Route 214, Phoenicia, NY 12464

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    Claim this Listing
    For Sale
    $629,999

    COMMERCIAL - Phoenicia, NY

    Property size:
    3,800 SF
    Lot size:
    0.47 Acres
    Price / SF:
    $165/SF
    Added:
    Nov 15, 2022
    Days on Market:
    1297
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 76 Route 214

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    421 com rest
    Appliances
    Water Heater, Washer/Dryer Stacked
    Standard status
    Active
    APN
    5000-014.013-0001-071.000-0000
    Size
    3,800 SF
    Lot size
    0.47 Acres

    Taxes and HOA fees

    Tax Description
    71,1,76 Route 214
    Tax Annual Amount
    6086

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Radiant, Steam, Propane (Heating), Oil
    Cooling system
    Central Air
    Water front features
    Creek
    Water front
    1

    Building Details

    Year built
    1937
    Flooring type
    Hardwood, Concrete
    Building materials
    Frame
    Additional Structures
    Second Garage

    We can help!

    Listing Contact
    Kathy Ann Shumway

    Listing agent Kathy Ann Shumway License #10301223076

    Listing office Win Morrison Realty-K 56 John St, Kingston, NY

    Listing date Nov 15, 2022

    MLS# 20223612

    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.

    HighLights

    • Prime restaurant space with existing equipment in the heart of Phoenicia, NY.
    • Additional 1000 sq. ft. of flexible floor space.
    • Potential for B&B on the upstairs level with 4 large rooms and additional space.
    • Expansive covered porch for stellar outdoor dining.
    • Commercial kitchen, loading area, concrete block garage (currently rented).
    • Vintage space with rustic, retro modern feel and updated bar.

    Overview

    This commercial property is located in Phoenicia, NY, in the heart of the Catskills. The property features a prime restaurant space, currently operating as Tavern 214, and includes all equipment. The restaurant area offers 1,000 square feet of dining space with an updated bar, plus an additional 1,000 square feet of flexible floor space. Outdoor dining is available on the expansive covered porch. The property also includes an upstairs area suitable for conversion into a bed and breakfast, featuring four large rooms and additional space for renovation. The property has a commercial kitchen, loading area, concrete block garage, and a full basement. The garage is currently rented. The lot size is 0.47 acres. The total property size is 3,800 square feet. The zoning is 421 com rest, allowing for commercial and restaurant uses.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $68.4k $18.00
    − Vacancy −$2.9k −$0.76
    EGI $65.5k $17.24
    − OpEx −$16.4k −$4.31
    NOI $49.1k $12.93
    3,800 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $702.1K
    $614.3K – $819.1K (±1% cap)
    NOI $49,145 @ 7.0% cap · market cap 7.80%
    Second Best
    Retail
    $646.4K
    $565.6K – $754.1K (±1% cap)
    NOI $45,247 @ 7.0% cap · market cap 7.18%
    Theoretical Best
    Multifamily LT 5
    $35.54M
    $31.09M – $41.46M (±1% cap)
    NOI $2,487,569 @ 7.0% cap · market cap 394.85%
    Zoning and permitted uses should be independently verified with local authorities.
    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 Real Estate Agency Spa & Massage Center Auto Repair Shop Hair Salon Gym & Fitness Center Pharmacy Hotel & Motel Department Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenicia
    County
    Ulster
    State
    New York
    Longitude
    -74.317427
    Latitude
    42.085575

    Nearby Similar for Sale

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    • $2,200,000
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    • $629,999
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      Catskills Restaurant with Growth Potential

      Landmark restaurant property in Phoenicia, NY with B&B potential.
      76 NY-214, Phoenicia, NY 12464
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Landmark property with restaurant space and B&B potential.
    Where is this conventional restaurant located?
    The property is located at 76 Route 214 Phoenicia, NY.
    What is the asking price?
    The asking price for this property is $629,999.
    What are key features of this property?
    This property features: Prime restaurant space with existing equipment in the heart of Phoenicia, NY.; Additional 1000 sq. ft. of flexible floor space.; Potential for B&B on the upstairs level with 4 large rooms and additional space.
    (845) 901-6555
    We can help!
    Listing Contact
    Kathy Ann Shumway
    Real Estate License ID: 10301223076
    Learn More
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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
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