Renovated Bar with
For Sale
$349,000
12-14 Water St, Fredonia, NY 14063
The offering includes land, building, and business, plus updated electrical, refrigeration, and restroom improvements.
Property Size2,208 SF
Price / SF$158.06
Days on Market32
Property Features for 12-14 Water St
General Information
Standard status
Active
Size
2,208 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1923
Listing Agency:
Howard Hanna Holt - Fredonia
(716) 679-8355
Listed By:
Tammy Hess Schmitt · License #40HE1022222
Source:
Skinnercnyrealty
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 7:07PM
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 Howard Hanna Holt - Fredonia
Investment Insights
Based on property information with market context.
Valentine’s Place is a bar and nightclub property with the land, building, and business included in the sale. The 1923 building has undergone multiple updates, including a renovated bar, refreshed restrooms, new tile flooring, upgraded electrical and refrigeration systems, and a newer roof. Sound and lighting equipment supports live music and nightlife operations.
The property is located at 12-14 Water Street in Fredonia, close to SUNY Fredonia and next to public parking. The established venue includes a history of live music and beverage service, with the physical improvements and operating business conveyed together.
The property is located at 12-14 Water Street in Fredonia, close to SUNY Fredonia and next to public parking. The established venue includes a history of live music and beverage service, with the physical improvements and operating business conveyed together.
Key Highlights
- Land, building, and business included in the sale
- Bar and nightclub venue at 12‑14 Water Street
- Updated bar, renovated restrooms, and new tile flooring
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
$29,033
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
8.32%
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%
$580,660
$580.7K
Cap Rate 7%
$414,757
$414.8K
Cap Rate 9%
$322,589
$322.6K
Market Conditions
NOI Build-Up for 2,208 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
$39.7K $18.00/SF
− Vacancy
−$1.0K −$0.47/SF
EGI
$38.7K $17.53/SF
− OpEx
−$9.7K −$4.38/SF
NOI
$29.0K $13.15/SF
Area
Chautauqua County, NY
Vacancy
2.60%
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%
$580,660
Cap Rate 7%
$414,757
Cap Rate 9%
$322,589
Alternative Uses
Best Use
Specialty Retail
$414.8K
$362.9K – $483.9K
NOI $29,033 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$660.9K
$578.3K – $771.0K
NOI $46,262 @ 7.0% cap · market cap 13.26%
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
666
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
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?
Bar & Pub - The offering includes land, building, and business, plus updated electrical, refrigeration, and restroom improvements.
Where is this bar & pub located?
The property is located at 12-14 Water St Fredonia, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Land, building, and business included in the sale; Bar and nightclub venue at 12‑14 Water Street; Updated bar, renovated restrooms, and new tile flooring
