Restaurant with Residential
For Sale
$625,000
1424 Main Street, Vienna, NY 13157
Turn-key bar and restaurant with two residential apartments above on a corner lot with ample parking and lake views.
Property Size6,135 SF
Days on Market56
Property Features for 1424 Main Street
General Information
Standard status
Active
Size
6,135 SF
Property subtype
Business
Additional Details
Furnished
Yes
Business Included
Yes
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$22,837
Building Details
Building Size
6,135 SF
Year Built
1973
Listing Agency:
The O'Hara Group
(315) 447-8620
Listed By:
Connor Schwartz · License #10401355679
(315) 447-8620
Source:
Griffith-realty
Added: Jul 2
Changed: Aug 23
Last Checked: Aug 25 at 11:14AM
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 The O'Hara Group
Investment Insights
Based on property information with market context.
This turn-key mixed-use property includes a fully equipped, maintained bar and restaurant plus two well-kept residential apartments located above the dining area. The building is described as being in exceptional condition inside and out, and the layout supports flexible use while keeping the current food-and-beverage operation in place.
The property sits on a large corner lot with ample parking and water views of Oneida Lake. It is located on Main St, with the Sylvan Beach public beach access about one block away.
Designed for an owner-operator or an investor looking to combine operating income with real estate, the structure offers a practical, ready-to-run restaurant/bar component alongside on-site residential space.
The property sits on a large corner lot with ample parking and water views of Oneida Lake. It is located on Main St, with the Sylvan Beach public beach access about one block away.
Designed for an owner-operator or an investor looking to combine operating income with real estate, the structure offers a practical, ready-to-run restaurant/bar component alongside on-site residential space.
Key Highlights
- 1973‑built property featuring a fully equipped bar and restaurant, with two well‑kept residential apartments above
- Corner lot with ample parking and water views of Oneida Lake
- Located on Main St, with Sylvan Beach public beach access about one block away
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
$55,566
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
8.89%
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%
$1,111,320
$1.1M
Cap Rate 7%
$793,800
$793.8K
Cap Rate 9%
$617,400
$617.4K
Market Conditions
NOI Build-Up for 6,135 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
$84.7K $13.80/SF
− Vacancy
−$5.3K −$0.86/SF
EGI
$79.4K $12.94/SF
− OpEx
−$23.8K −$3.88/SF
NOI
$55.6K $9.06/SF
Area
Oneida County, NY
Vacancy
6.24%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,111,320
Cap Rate 7%
$793,800
Cap Rate 9%
$617,400
Alternative Uses
Best Use
Specialty Retail
$1.01M
$883.3K – $1.18M
NOI $70,664 @ 7.0% cap · market cap 11.31%
Second Best
Multifamily LT 5
$793.8K
$694.6K – $926.1K
NOI $55,566 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,169 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13157, NY
570
Population
671
Households
0.8
Avg Household Size
57
Median Age
25%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
1,425
Density / Sq Mi
$53,125
Median Household Income
$59,063
Median Earnings
$969
Median Rent
$114,200
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 - Turn-key bar and restaurant with two residential apartments above on a corner lot with ample parking and lake views.
Where is this conventional restaurant located?
The property is located at 1424 Main Street Vienna, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1973‑built property featuring a fully equipped bar and restaurant, with two well‑kept residential apartments above; Corner lot with ample parking and water views of Oneida Lake; Located on Main St, with Sylvan Beach public beach access about one block away
