Turnkey Restaurant with Upstairs
For Sale
$749,000
1414 State Street, Schenectady, NY 12304
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 Market245
Property Features for 1414 State Street
General Information
Standard status
Active
Size
3,999 SF
Property subtype
Multi Family / Triplex
Additional Details
Furnished
Yes
Business Included
Yes
Multifamily Units
2
Amenities
full bar
commercial kitchen
prep room
central air
on-site parking
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
Changed: Jul 22
Last Checked: Jul 24 at 2:34PM
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
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 authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12304, NY
21,513
Population
9,438
Households
2.3
Avg Household Size
40
Median Age
25%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,211
Density / Sq Mi
$67,688
Median Household Income
$43,824
Median Earnings
$1,049
Median Rent
$171,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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
