Turnkey Restaurant with Commercial
For Sale
$490,000
8905 Ny Highway 66, Averill Park, NY 12018
COMMERCIAL - Averill Park, NY
Property Size2,357 SF
Lot Size2.13 Acres
Price / SF$207.89
Days on Market431
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
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: Aug 4
Last Checked: Aug 16 at 5:06PM
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 commercial property is offered as a turnkey restaurant opportunity and is operating under a special use permit for restaurant use. The interior includes a fully equipped commercial kitchen and inviting dining space, along with an entertainment hall suited for private events and community gatherings. An adjoining apartment provides flexibility for on-site living, employee housing, or additional rental potential.
The property is located in Averill Park and set on a spacious lot with ample on-site parking. It also benefits from visibility along NY Route 66.
The infrastructure is described as already in place, with the layout intended to support day-to-day restaurant operations and special events under the existing approvals.
The property is located in Averill Park and set on a spacious lot with ample on-site parking. It also benefits from visibility along NY Route 66.
The infrastructure is described as already in place, with the layout intended to support day-to-day restaurant operations and special events under the existing approvals.
Key Highlights
- Special use permit for restaurant use, with a fully equipped commercial kitchen plus dining space and an entertainment hall for events and gatherings
- Adjoining apartment provides on‑site living and/or employee housing, with additional rental potential (subject to municipal approvals)
- Metal roof with wood siding and wood flooring throughout
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
7.47%
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 7.47%
Second Best
Industrial
$355.9K
$311.4K – $415.2K
NOI $24,911 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$589.2K
$515.6K – $687.4K
NOI $41,245 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Turnkey restaurant property includes a fully equipped commercial kitchen, dining space, and an adjoining apartment.
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 $490,000.
What are key features of this property?
This property features: Special use permit for restaurant use, with a fully equipped commercial kitchen plus dining space and an entertainment hall for events and gatherings; Adjoining apartment provides on‑site living and/or employee housing, with additional rental potential (subject to municipal approvals); Metal roof with wood siding and wood flooring throughout
