Turnkey Restaurant with Upstairs
1414 State Street Schenectady, NY 12304
1414 State Street, Schenectady, NY, 12304
$749,000
For Sale
$749,000
Turnkey Caribbean restaurant with a full bar, commercial kitchen, and two rented apartments above, plus on-site parking and central air.
Property Size3,999 SF
Price / SF$187.30
Days on Market233
Property Features for 1414 State Street
General Information
- Standard status
- Active
- Size
- 3,999 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1995
Listing agency
Coldwell Banker Prime Properties
(518) 764-8546
Listed by
Ebaan Bookay · License #10401364878
(518) 764-8546
Source
Compass
Added: Dec 1, 2025 Updated: Jul 22 at 7:43AM Checked: Jul 22 at 7:43AM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
1414 State Street is a turnkey Caribbean restaurant with income-producing residential space above. The main dining area includes a full bar, complemented by a large commercial kitchen and an oversized prep room. The operation is equipped with included appliances and furnishings, and the restaurant is climate-controlled with central air.
Upstairs, the property offers two apartments that are currently rented on a month-to-month basis to long-term tenants. An on-site parking lot supports customer and tenant access.
For buyers seeking an owner-operator setup, the property provides both a ready-to-operate restaurant environment and existing rental income within the same building configuration.
Upstairs, the property offers two apartments that are currently rented on a month-to-month basis to long-term tenants. An on-site parking lot supports customer and tenant access.
For buyers seeking an owner-operator setup, the property provides both a ready-to-operate restaurant environment and existing rental income within the same building configuration.
Key Highlights
- Established Caribbean restaurant operating for over 8 years, with included appliances and furnishings
- Spacious dine‑in area with full bar, plus a large commercial kitchen and oversized prep room
- Central air climate control; electric forced‑air heating and flat roof
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 | $78.2k | $19.56 |
| − Vacancy | −$3.3k | −$0.82 |
| EGI | $74.9k | $18.74 |
| − OpEx | −$18.7k | −$4.68 |
| NOI | $56.2k | $14.05 |
3,999 SF · lease $19.56/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$802.9K
$702.5K – $936.7K
NOI $56,201 @ 7.0% cap · market cap 7.50%
Second Best
Multifamily LT 5
$650.6K
$569.3K – $759.0K
NOI $45,542 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,787 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
A Taste of Guyana Roti ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Turnkey Caribbean restaurant with a full bar, commercial kitchen, and two rented apartments above, plus on-site parking and central air.
Where is this conventional restaurant located?
The property is located at 1414 State Street Schenectady, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Established Caribbean restaurant operating for over 8 years, with included appliances and furnishings; Spacious dine‑in area with full bar, plus a large commercial kitchen and oversized prep room; Central air climate control; electric forced‑air heating and flat roof
