Turnkey Restaurant and Bar
For Sale
$950,000
1490 State Street, Schenectady, NY 12304
COMMERCIAL - Schenectady, NY
Property Size2,368 SF
Lot Size0.12 Acres
Price / SF$401.18
Days on Market210
Property Features for 1490 State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Parking
12
Directions
From Troy-Schenectady Rd continue onto Crosstown Connection, turn right on Consaul Rd, then right on State St-destination is on your left.
Standard status
Active
APN
421500 49.76-4-14
Size
2,368 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
6227
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Building materials
Aluminum Siding, Brick
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Joanne Bongalo · License #10301216639
(518) 209-8004
Added: Jan 14
Changed: Aug 4
Last Checked: Aug 12 at 2:06PM
MLS# 202610544
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained and renovated restaurant and bar building is offered turnkey with furniture, fixtures, and equipment included. The interior includes dining areas, a commercial kitchen, storage room, full basement, and a private office, along with separate men’s and women’s restrooms. The property also features an apartment or in-law suite with a private entrance, plus outdoor patio seating.
Located at 1490 State Street in the heart of Schenectady’s high-traffic corridor, the building includes off-street parking. It is currently operating as a Caribbean restaurant with live music.
The overall configuration supports both customer service space and back-of-house operations, with the added flexibility of a separately entered residential suite.
Located at 1490 State Street in the heart of Schenectady’s high-traffic corridor, the building includes off-street parking. It is currently operating as a Caribbean restaurant with live music.
The overall configuration supports both customer service space and back-of-house operations, with the added flexibility of a separately entered residential suite.
Key Highlights
- 1986‑built commercial building with aluminum siding and brick exterior
- Restaurant and bar with all furniture, fixtures, and equipment included
- Commercial kitchen, dining areas, storage room, private office, and a full basement
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
$33,280
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
3.50%
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%
$665,600
$665.6K
Cap Rate 7%
$475,429
$475.4K
Cap Rate 9%
$369,778
$369.8K
Market Conditions
NOI Build-Up for 2,368 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
$46.3K $19.56/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$44.4K $18.74/SF
− OpEx
−$11.1K −$4.68/SF
NOI
$33.3K $14.05/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$19.56 /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%
$665,600
Cap Rate 7%
$475,429
Cap Rate 9%
$369,778
Alternative Uses
Best Use
Specialty Retail
$475.4K
$416.0K – $554.7K
NOI $33,280 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$708.8K
$620.2K – $826.9K
NOI $49,614 @ 7.0% cap · market cap 5.22%
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
546
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped restaurant and bar with dining areas, kitchen, storage, basement, office, restrooms, and off-street parking.
Where is this conventional restaurant located?
The property is located at 1490 State Street Schenectady, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1986‑built commercial building with aluminum siding and brick exterior; Restaurant and bar with all furniture, fixtures, and equipment included; Commercial kitchen, dining areas, storage room, private office, and a full basement
