Three-Level Restaurant with
For Sale
$599,000
10 E Main Street, Pawling, NY 12564
Renovated food-service property with balcony, prep facilities, and public utilities.
Property Size2,185 SF
Days on Market145
Property Features for 10 E Main Street
General Information
Standard status
Active
Size
2,185 SF
Property subtype
Commercial
Zoning
B1
Property Condition
Severity
Repairs Needed
Evidence
Cosmetic in nature, deferred maintenance is minimal.
Site & Location
Road Access
Yes
Utilities to Site
Yes
Restaurant
Commercial Hood
No
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$9,487
Amenities
balcony
walking distance to Metro-North rail service
Building Details
Building Size
2,185 SF
Year Renovated
2019
Buildings
1
Listing Agency:
McGrath Realty Inc
(914) 290-6242
Listed By:
Mark E. Friedman · License #10401395087
(914) 290-6242
Source:
Cornerstonemyhome
Added: Apr 6
Changed: Aug 28
Last Checked: Aug 25 at 9:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McGrath Realty Inc
Investment Insights
Based on property information with market context.
This three-level restaurant property is configured for food and beverage operations, with front-of-house space on the ground floor and an open second-floor layout formerly used for additional dining. Existing improvements include casework, cabinetry, a bar tap, select fixtures, and a street-facing balcony. The finished basement provides prep and production space with a walk-in cooler, three-bay sink, and working dumbwaiter connection. A rear patio expands outdoor seating capacity. The building was renovated in 2019, and no hood is currently installed, although infrastructure supports a future retrofit for a full commercial kitchen.
Located at 10 E Main Street at the intersection with Charles Coleman Blvd in Pawling, the property has public water and sewer, cable, electrical service, and propane. Pawling Metro-North station is within walking distance. The property is zoned B1 and has operated continuously for food and beverage use, most recently as a bakery and café.
Located at 10 E Main Street at the intersection with Charles Coleman Blvd in Pawling, the property has public water and sewer, cable, electrical service, and propane. Pawling Metro-North station is within walking distance. The property is zoned B1 and has operated continuously for food and beverage use, most recently as a bakery and café.
Key Highlights
- Three‑level restaurant building at 10 E Main Street and Charles Coleman Blvd in Pawling
- Renovated in 2019 with minimal deferred maintenance noted
- Finished basement includes walk‑in cooler, three‑bay sink, and working dumbwaiter
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
$39,562
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
6.60%
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%
$791,240
$791.2K
Cap Rate 7%
$565,171
$565.2K
Cap Rate 9%
$439,578
$439.6K
Market Conditions
NOI Build-Up for 2,185 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
$55.1K $25.20/SF
− Vacancy
−$2.3K −$1.06/SF
EGI
$52.7K $24.14/SF
− OpEx
−$13.2K −$6.04/SF
NOI
$39.6K $18.11/SF
Area
Dutchess County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$791,240
Cap Rate 7%
$565,171
Cap Rate 9%
$439,578
Alternative Uses
Best Use
Specialty Retail
$565.2K
$494.5K – $659.4K
NOI $39,562 @ 7.0% cap · market cap 6.60%
Second Best
Retail
$399.4K
$349.5K – $466.0K
NOI $27,957 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$657.7K
$575.5K – $767.4K
NOI $46,041 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12564, NY
7,159
Population
3,169
Households
2.3
Avg Household Size
48
Median Age
40%
College-Educated
93%
High-School Grad
41.4 sq mi
ZIP Area
173
Density / Sq Mi
$111,683
Median Household Income
$61,548
Median Earnings
$1,309
Median Rent
$420,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated food-service property with balcony, prep facilities, and public utilities.
Where is this conventional restaurant located?
The property is located at 10 E Main Street Pawling, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑level restaurant building at 10 E Main Street and Charles Coleman Blvd in Pawling; Renovated in 2019 with minimal deferred maintenance noted; Finished basement includes walk‑in cooler, three‑bay sink, and working dumbwaiter
