Restaurant Property with
For Sale
$450,000
8905 Ny Highway 66, Averill Park, NY 12018
Commercial Sale, Averill Park, NY
Property Size2,357 SF
Lot Size2.13 Acres
Price / SF$190.92
Days on Market477
Property Features for 8905 Ny Highway 66
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking
50
Patio and Porch features
Deck, Porch
Basement
Full
Elementary school
Sand Lake-Miller Hill
High school
Averill Park
Elementary school district
Averill Park
Middle school district
Averill Park
High school district
Averill Park
Directions
route 66
Standard status
Active
APN
383800 136.-8-13
Size
2,357 SF
Lot size
2.13 Acres
Taxes and HOA fees
Tax Annual Amount
5857
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Amenities
fully equipped commercial kitchen
inviting dining space
entertainment hall
adjoining apartment
Building Details
Year built
1951
Floors in Building
2
Flooring type
Wood
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Shana Edwards · License #10401257957
(518) 365-1915
Added: Jun 12, 2025
Changed: Sep 12
Last Checked: Oct 1 at 11:06PM
MLS# 202519506
Copyright © 2026 Global MLS, Inc. 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.
This 2,357-square-foot restaurant property occupies 2.13 acres and operates under a special use permit for restaurant use. The building includes a commercial kitchen, dining area, entertainment hall, and an adjoining apartment that may support on-site living, employee housing, or rental use. Wood siding, wood flooring, a metal roof, forced-air heat, and central air are among the existing improvements.
The property is located at 8905 NY Highway 66 in Averill Park, with visibility along Route 66 and on-site parking. Water is supplied by a well, and wastewater service is provided by a septic tank. The commercial zoning and existing restaurant approval provide a defined operating framework, while other business concepts remain subject to municipal approvals.
The property is located at 8905 NY Highway 66 in Averill Park, with visibility along Route 66 and on-site parking. Water is supplied by a well, and wastewater service is provided by a septic tank. The commercial zoning and existing restaurant approval provide a defined operating framework, while other business concepts remain subject to municipal approvals.
Key Highlights
- 2.13‑acre commercial restaurant property in Averill Park
- 2,357‑square‑foot building with dining area, commercial kitchen, and entertainment hall
- Adjoining apartment offers on‑site living, employee housing, or rental potential
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
$36,580
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
8.13%
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%
$731,600
$731.6K
Cap Rate 7%
$522,571
$522.6K
Cap Rate 9%
$406,444
$406.4K
Market Conditions
NOI Build-Up for 2,357 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
$50.9K $21.60/SF
− Vacancy
−$2.1K −$0.91/SF
EGI
$48.8K $20.69/SF
− OpEx
−$12.2K −$5.17/SF
NOI
$36.6K $15.52/SF
Area
Rensselaer County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$731,600
Cap Rate 7%
$522,571
Cap Rate 9%
$406,444
Alternative Uses
Best Use
Specialty Retail
$522.6K
$457.3K – $609.7K
NOI $36,580 @ 7.0% cap · market cap 8.13%
Second Best
Industrial
$355.9K
$311.4K – $415.2K
NOI $24,911 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$589.2K
$515.6K – $687.4K
NOI $41,245 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12018, NY
7,626
Population
3,123
Households
2.4
Avg Household Size
46
Median Age
43%
College-Educated
97%
High-School Grad
46.2 sq mi
ZIP Area
165
Density / Sq Mi
$133,542
Median Household Income
$72,310
Median Earnings
$1,339
Median Rent
$318,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial restaurant property with a commercial kitchen, event hall, adjoining apartment, and on-site parking under an existing restaurant approval.
Where is this conventional restaurant located?
The property is located at 8905 Ny Highway 66 Averill Park, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2.13‑acre commercial restaurant property in Averill Park; 2,357‑square‑foot building with dining area, commercial kitchen, and entertainment hall; Adjoining apartment offers on‑site living, employee housing, or rental potential
