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Catskills Landmark Restaurant with B&B

76 214, Shandaken, NY 12464

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For Sale

$629,999

Prime restaurant space with B&B potential in Phoenicia, NY.

Property size:

3,800 SF

Price / SF:

$165/SF

HighLights

Prime restaurant space in Phoenicia, NY, including all equipment.
Two 1000 sq. ft. floors: one a dining room with updated bar, the other ready for customization.
Upstairs space suitable for conversion to a B&B with 4 large rooms and additional space.
Expansive covered porch for outdoor dining.
Commercial kitchen, loading area, concrete block garage (currently rented), and full basement.
Ample parking and growth potential in a fantastic location.

We can help!

Contact an agent

Kathy Ann Shumway

Learn more

For Sale

$629,999

Prime restaurant space with B&B potential in Phoenicia, NY.

Property size:

3,800 SF

Price / SF:

$165/SF

Added:: Aug 17, 2024
Days on Market:: 689
Last Refresh:: May 13 at 8:49 pm

Property Features for 76 214

General Information

Standard status: Active
Size: 3,800 SF
Property subtype: Other

We can help!

Contact an agent

Kathy Ann Shumway

Listing office Win Morrison Realty

Listing date Aug 17, 2024

Source Xome

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 Win Morrison Realty

HighLights

Prime restaurant space in Phoenicia, NY, including all equipment.
Two 1000 sq. ft. floors: one a dining room with updated bar, the other ready for customization.
Upstairs space suitable for conversion to a B&B with 4 large rooms and additional space.
Expansive covered porch for outdoor dining.
Commercial kitchen, loading area, concrete block garage (currently rented), and full basement.
Ample parking and growth potential in a fantastic location.

Overview

This landmark property is located in Phoenicia, NY, in the heart of the Catskills. It features a prime restaurant space with all equipment included. The property has a vintage space with a rustic, retro modern feel. The 1,000-square-foot dining room includes an updated bar, and an additional 1,000 square feet of floor space is available. Outdoor dining is available on the expansive covered porch. The upstairs area is suitable for revival as a bed and breakfast, featuring 4 large rooms and additional space for renovation. The property also includes a commercial kitchen, loading area, concrete block garage, and full basement. The garage is currently rented to Graham and Co.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

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

Hotel Hospitality

$290.1K

$253.8K – $338.4K (±1% cap)

NOI $20,306 @ 7.0% cap · market cap 3.22%

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

Similar Places Nearby

American legion Post #950 — Veteran's Way, Phoenicia, NY 12464

Location Insight

Map
Local Demand

City: Shandaken
County: Ulster
State: New York
Longitude: -74.3824
Latitude: 42.0431

For sale
Bars & Pubs
NY
Shandaken
12464
76 214

What type of property is this?

Bar & Pub - Prime restaurant space with B&B potential in Phoenicia, NY.

Where is this bar & pub located?

The property is located at 76 214 Shandaken, 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 in Phoenicia, NY, including all equipment.; Two 1000 sq. ft. floors: **one a dining room with updated bar**, the other ready for customization.; Upstairs space suitable for conversion to a B&B with 4 large rooms and additional space.