Turnkey Restaurant and
For Sale
$600,000
10507 Main St, North Collins, NY 14111
Turnkey restaurant and bar opportunity with real estate included, designed for immediate owner operation.
Property Size4,320 SF
Days on Market48
Property Features for 10507 Main St
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$124,501
Building Details
Building Size
4,320 SF
Year Built
1930
Stories
1
Listing Agency:
HUNT Real Estate Corporation
(716) 816-6401
Listed By:
Julia Kocovska · License #10401329449
(716) 816-6401
Source:
Elliman
Added: Jul 4
Changed: Aug 16
Last Checked: Aug 19 at 10:14AM
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 HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
This offering combines a fully turnkey, established restaurant and bar with the real estate included, giving a new owner the ability to step in and operate from day one. The property is presented as ready to run as-is, supported by the seller’s characterization of a complete, operational setup for a restaurant and bar concept.
The location is in South Towns, New York, with overall area access that is described as car-dependent based on provided WalkScore and bikeScore figures. While the surrounding mobility context suggests a driving-oriented customer pattern, the listing’s emphasis is on convenience for an owner-operator seeking a ready-to-perform restaurant and bar rather than a redevelopment or buildout.
For prospective buyers, this format is well suited to operators looking to take over an established restaurant and bar without waiting for licensing and buildout timelines associated with a raw space. Because the seller also notes a lease option is available, the opportunity may fit parties who want to evaluate operating performance or transition to ownership under a lease arrangement. The combination of business and real estate in a turnkey presentation supports a straightforward path for an experienced operator prepared to run day-to-day service.
The location is in South Towns, New York, with overall area access that is described as car-dependent based on provided WalkScore and bikeScore figures. While the surrounding mobility context suggests a driving-oriented customer pattern, the listing’s emphasis is on convenience for an owner-operator seeking a ready-to-perform restaurant and bar rather than a redevelopment or buildout.
For prospective buyers, this format is well suited to operators looking to take over an established restaurant and bar without waiting for licensing and buildout timelines associated with a raw space. Because the seller also notes a lease option is available, the opportunity may fit parties who want to evaluate operating performance or transition to ownership under a lease arrangement. The combination of business and real estate in a turnkey presentation supports a straightforward path for an experienced operator prepared to run day-to-day service.
Key Highlights
- Turnkey restaurant and bar with real estate included
- Lease option also available
- Year built: 1930
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
$52,021
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
8.67%
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%
$1,040,420
$1.0M
Cap Rate 7%
$743,157
$743.2K
Cap Rate 9%
$578,011
$578.0K
Market Conditions
NOI Build-Up for 4,320 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
$77.8K $18.00/SF
− Vacancy
−$8.4K −$1.94/SF
EGI
$69.4K $16.06/SF
− OpEx
−$17.3K −$4.01/SF
NOI
$52.0K $12.04/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$18.00 /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%
$1,040,420
Cap Rate 7%
$743,157
Cap Rate 9%
$578,011
Alternative Uses
Best Use
Specialty Retail
$743.2K
$650.3K – $867.0K
NOI $52,021 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.4K
$826.3K – $1.10M
NOI $66,106 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Gui's Lumber
Home Improvements & Furnishings
2,043 visits/mo
0.3 miles
Demographics for 14111, NY
3,198
Population
1,390
Households
2.3
Avg Household Size
45
Median Age
22%
College-Educated
93%
High-School Grad
35.6 sq mi
ZIP Area
90
Density / Sq Mi
$79,474
Median Household Income
$52,808
Median Earnings
$903
Median Rent
$177,400
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 - Turnkey restaurant and bar opportunity with real estate included, designed for immediate owner operation.
Where is this conventional restaurant located?
The property is located at 10507 Main St North Collins, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Turnkey restaurant and bar with real estate included; Lease option also available; Year built: 1930
