Landmark Tavern Restaurant
76 State Route 214 Phoenicia, NY 12464
76 State Route 214, Phoenicia, NY, 12464
$639,999
For Sale
$639,999
Restaurant property with updated bar, commercial kitchen, covered porch dining, and equipment included, plus upstairs guest rooms.
Property Size2,000 SF
Price / SF$319
Days on Market1344
Property Features for 76 State Route 214
General Information
- Standard status
- Active
- Size
- 2,000 SF
Listing agency
Win Morrison Realty-K
(845) 901-6555
Listed by
Kathy Ann Shumway · License #10301223076
(845) 901-6555
Source
Exprealty
Added: Nov 15, 2022 Updated: Jul 20 at 3:47PM Checked: Jul 20 at 3:47PM
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 Win Morrison Realty-K
Investment Insights
Based on property information with market context.
Located at 76 State Route 214 in Phoenicia, this landmark tavern-style restaurant property is offered for sale with equipment included. The main level features a 1,000 sq. ft. dining room with a beautiful updated bar, along with an additional 1,000 sq. ft. floor area for flexible use. An expansive covered porch supports outdoor dining.
The upstairs area is described as “the upstairs,” with four large rooms and additional renovate-able space, with the current marketing positioned toward reviving the space for a bed & breakfast. The property also includes a commercial kitchen and a loading area, plus a concrete block garage and a full basement.
A garage is currently rented to Graham and Co., providing an occupied component of the overall offering.
The upstairs area is described as “the upstairs,” with four large rooms and additional renovate-able space, with the current marketing positioned toward reviving the space for a bed & breakfast. The property also includes a commercial kitchen and a loading area, plus a concrete block garage and a full basement.
A garage is currently rented to Graham and Co., providing an occupied component of the overall offering.
Key Highlights
- Landmark restaurant property in Phoenicia, NY with prime restaurant space and 1,000 SF dining room with an updated bar
- Additional 1,000 SF floor space for flexible use, plus stellar outdoor dining on an expansive covered porch
- Includes all equipment, along with a commercial kitchen, loading area, concrete block garage, and a full basement
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.0k | $18.00 |
| − Vacancy | −$1.5k | −$0.76 |
| EGI | $34.5k | $17.24 |
| − OpEx | −$8.6k | −$4.31 |
| NOI | $25.9k | $12.93 |
2,000 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$369.5K
$323.3K – $431.1K
NOI $25,866 @ 7.0% cap · market cap 4.04%
Second Best
Hotel Hospitality
$152.7K
$133.6K – $178.1K
NOI $10,688 @ 7.0% cap · market cap 1.67%
Theoretical Best
Multifamily LT 5
$18.70M
$16.37M – $21.82M
NOI $1,309,247 @ 7.0% cap · market cap 204.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Restaurant property with updated bar, commercial kitchen, covered porch dining, and equipment included, plus upstairs guest rooms.
Where is this conventional restaurant located?
The property is located at 76 State Route 214 Phoenicia, NY.
What is the asking price?
The asking price for this property is $639,999.
What are key features of this property?
This property features: Landmark restaurant property in Phoenicia, NY with prime restaurant space and 1,000 SF dining room with an updated bar; Additional 1,000 SF floor space for flexible use, plus stellar outdoor dining on an expansive covered porch; Includes all equipment, along with a commercial kitchen, loading area, concrete block garage, and a full basement
