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    Restaurant Building with River Views Title is generated by Realmo AI

    2 Freemans Bridge Road, Schenectady, NY 12302

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    Freestanding restaurant building with FF&E, shared parking, and docks.

    Type:Retail
    Property size:
    4,500 SF
    Added:
    Mar 25, 2026
    Days on Market:
    50
    Last Refresh:
    Mar 16 at 10:24 am

    Property Features for 2 Freemans Bridge Road

    General Information

    Standard status
    Active
    Size
    4,500 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    John MacAffer
    John MacAffer

    Listing agent John MacAffer License #Associate Real Estate Broker

    Listing office CBRE | Albany

    Listing date Mar 25, 2026

    Source Cbre

    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 CBRE | Albany

    HighLights

    • ±3,500 SF restaurant (The Water’s Edge Lighthouse Restaurant) with 20‑year operating history and great local reputation.
    • Includes all furniture, fixtures, and equipment (FF&E).
    • Located along the Mohawk River with beautiful views.
    • Restaurant seating for 200 inside and 175 outside.
    • Shared parking rights to a large ±250 space parking lot and docks and permits.
    • Close proximity to 4 hotels, several apartment complexes, and Rivers Casino and Resort.

    Overview

    This offering includes a freestanding, two-story building with approximately 4,500 square feet, located in Glenville. The property features an approximately 3,500-square-foot restaurant, The Water‘s Edge Lighthouse Restaurant. The sale encompasses all furniture, fixtures, and equipment. Shared parking is available with the adjacent hotel. The location provides views of the Mohawk River. The restaurant has seating for 200 people inside and outdoor seating for 175 people. The restaurant has a 20-year operating history and a local reputation. The property is near four hotels, several apartment complexes, and Rivers Casino and Resort. The location has an AADT traffic count of 12,163. The listing includes the building, FF&E, shared parking rights to a large approximately 250-space parking lot, and docks and permits. Lease options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Terrace At the Waters Edge Wedding Service Barrier Free Systems, ... General Contractor Max410 at The Waters Edge Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.930402
    Latitude
    42.8316281

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    FAQs

    What type of property is this?
    Conventional restaurant - Freestanding restaurant building with FF&E, shared parking, and docks.
    Where is this conventional restaurant located?
    The property is located at 2 Freemans Bridge Road Schenectady, NY.
    What are key features of this property?
    This property features: ±3,500 SF restaurant (The Water’s Edge Lighthouse Restaurant) with 20‑year operating history and great local reputation.; Includes all furniture, fixtures, and equipment (FF&E).; Located along the Mohawk River with beautiful views.
    (518) 452-2700
    We can help!
    Listing Contact
    John MacAffer
    John MacAffer
    Real Estate License ID: Associate Real Estate Broker
    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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