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    Fredonia Bar and Nightclub Opportunity Title is generated by Realmo AI

    12-14 Water Street, Fredonia, NY 14063

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    For Sale
    $349,000

    COMMERCIAL - Fredonia, NY

    Property size:
    2,208 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $158/SF
    Added:
    May 30, 2025
    Days on Market:
    352
    Last Refresh:
    May 16 at 7:06 pm

    Property Features for 12-14 Water Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    425
    Rooms
    Basement
    Parking features
    Paved or Surfaced
    Standard status
    Active
    APN
    065801-113-065-0002-058-000
    Size
    2,208 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5638

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1923
    Floors in Building
    1
    Building materials
    Brick, Block
    Roof type
    Flat

    We can help!

    Listing Contact
    Tammy Hess Schmitt
    Tammy Hess Schmitt

    Listing agent Tammy Hess Schmitt License #40HE1022222

    Listing office Howard Hanna Holt - Fredonia 44 Temple St, Mayville, NY

    Listing date May 30, 2025

    MLS# R1611139

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey bar and nightclub business, land, and building included for a seamless transition.
    • Prime location in Fredonia's nightlife district, close to SUNY Fredonia and public parking.
    • Updated with state‑of‑the‑art sound and lighting systems, renovated restrooms, new tile flooring, and upgraded electrical and refrigeration systems.
    • Newer roof ensures longevity and reduced maintenance costs.
    • Established business with a rich history and loyal patronage.
    • Diverse drink offerings, including a great beer selection and popular cocktails.

    Overview

    Valentine's Place, a bar and nightclub located at 12-14 Water Street in Fredonia, presents a rare opportunity to own a cornerstone of the local nightlife. This turnkey business boasts a rich history and established patronage. The property features updated amenities, including state-of-the-art sound and lighting systems, an updated bar, renovated restrooms, new tile flooring, and upgraded electrical and refrigeration systems. Structural updates include a newer roof. Known for its lively atmosphere, live music, and diverse drink offerings, including a great beer selection and cocktails, Valentine's Place is centrally located close to SUNY Fredonia and adjacent to public parking. The sale includes the land, building, and business. The property size is 2208 square feet, situated on a 0.0758-acre lot. The zoning is 425.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $322.6K
    NOI $29,033 @ 9.00% cap · cautious / downside scenario
    Moderate
    $414.8K
    NOI $29,033 @ 7.00% cap · market / base-case scenario
    Aggressive
    $580.7K
    NOI $29,033 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $39.7k $18.00
    − Vacancy −$1.0k −$0.47
    EGI $38.7k $17.53
    − OpEx −$9.7k −$4.38
    NOI $29.0k $13.15
    2,208 SF · lease $18.00/SF/yr · vacancy 2.60% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $414.8K
    $362.9K – $483.9K (±1% cap)
    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 (±1% cap)
    NOI $46,262 @ 7.0% cap · market cap 13.26%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Ellicottville Brewing Company Fredonia — 34 W Main St, Fredonia, NY 14063
    • 64 On The Rocks — 64 W Main St, Fredonia, NY 14063
    • Coughlan's Pub — 47 W Main St, Fredonia, NY 14063
    • Sunny's — 43 Water St, Fredonia, NY 14063
    • Downtown Brew - Craft Beer Shop & Bar — 13 Water St, Fredonia, NY 14063

    Location Insight

    • Map
    • Local Demand
    City
    Fredonia
    County
    Chautauqua
    State
    New York
    Longitude
    -79.330893
    Latitude
    42.4397

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    FAQs

    What type of property is this?
    Bar & Pub - Turnkey bar and nightclub in Fredonia, land, building, business.
    Where is this bar & pub located?
    The property is located at 12-14 Water Street 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: Turnkey bar and nightclub business, land, and building included for a seamless transition.; Prime location in Fredonia's nightlife district, close to SUNY Fredonia and public parking.; **Updated with state‑of‑the‑art sound and lighting systems**, renovated restrooms, new tile flooring, and upgraded electrical and refrigeration systems.
    (716) 679-8355
    We can help!
    Listing Contact
    Tammy Hess Schmitt
    Tammy Hess Schmitt
    Real Estate License ID: 40HE1022222
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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