Turnkey Restaurant with Commercial
For Sale
$490,000
8905 Ny Highway 66, Averill Park, NY 12018
For sale turnkey restaurant with a fully equipped commercial kitchen, adjoining apartment, and entertainment hall in Averill Park.
Property Size2,357 SF
Price / SF$207.89
Days on Market451
Property Features for 8905 Ny Highway 66
General Information
Standard status
Active
Size
2,357 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1951
Listing Agency:
KW Platform
Listed By:
Shana Edwards
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 15, 2025
Changed: Aug 7
Last Checked: Aug 7 at 12:58AM
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 KW Platform
Investment Insights
Based on property information with market context.
This for-sale turnkey restaurant space is set up for immediate foodservice operations. The property includes a fully equipped commercial kitchen, along with an adjoining apartment and an entertainment hall, creating flexible room for dining, hosting, or related events. Ample parking is available for staff and guests.
Located at 8905 NY Highway 66 in Averill Park, New York, the site is positioned to serve the Poestenkill community. The overall configuration supports a full-service venue model by combining back-of-house functionality with additional rooms for customer-facing programming.
The layout is well-suited for an operator seeking a ready-to-run restaurant concept without building out major kitchen infrastructure from scratch. The included apartment can support on-site living or staff accommodation, while the entertainment hall provides an additional interior space that may accommodate programming connected to the venue’s primary use. For buyers, this package combines foodservice improvements with complementary features on a single property.
Located at 8905 NY Highway 66 in Averill Park, New York, the site is positioned to serve the Poestenkill community. The overall configuration supports a full-service venue model by combining back-of-house functionality with additional rooms for customer-facing programming.
The layout is well-suited for an operator seeking a ready-to-run restaurant concept without building out major kitchen infrastructure from scratch. The included apartment can support on-site living or staff accommodation, while the entertainment hall provides an additional interior space that may accommodate programming connected to the venue’s primary use. For buyers, this package combines foodservice improvements with complementary features on a single property.
Key Highlights
- Turnkey restaurant space in Averill Park with a fully equipped commercial kitchen
- Adjoining apartment included with the restaurant space
- Entertainment hall on‑site
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
$36,580
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
7.47%
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%
$731,600
$731.6K
Cap Rate 7%
$522,571
$522.6K
Cap Rate 9%
$406,444
$406.4K
Market Conditions
NOI Build-Up for 2,357 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
$50.9K $21.60/SF
− Vacancy
−$2.1K −$0.91/SF
EGI
$48.8K $20.69/SF
− OpEx
−$12.2K −$5.17/SF
NOI
$36.6K $15.52/SF
Area
Rensselaer County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$731,600
Cap Rate 7%
$522,571
Cap Rate 9%
$406,444
Alternative Uses
Best Use
Specialty Retail
$522.6K
$457.3K – $609.7K
NOI $36,580 @ 7.0% cap · market cap 7.47%
Second Best
Industrial
$355.9K
$311.4K – $415.2K
NOI $24,911 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$589.2K
$515.6K – $687.4K
NOI $41,245 @ 7.0% cap · market cap 8.42%
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
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12018, NY
7,626
Population
3,123
Households
2.4
Avg Household Size
46
Median Age
43%
College-Educated
97%
High-School Grad
46.2 sq mi
ZIP Area
165
Density / Sq Mi
$133,542
Median Household Income
$72,310
Median Earnings
$1,339
Median Rent
$318,800
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 - For sale turnkey restaurant with a fully equipped commercial kitchen, adjoining apartment, and entertainment hall in Averill Park.
Where is this conventional restaurant located?
The property is located at 8905 Ny Highway 66 Averill Park, NY.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Turnkey restaurant space in Averill Park with a fully equipped commercial kitchen; Adjoining apartment included with the restaurant space; Entertainment hall on‑site
