Building Details

Building Size 2,720 SF

Year Built 1920

Stories 2

Listing Agency: Zambito Realtors

Listed By: Mark F Zambito · License #10491211627 Show Phone

Source: Elliman

Added: Oct 1 Last Checked: Oct 4 at 11:09AM

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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 Zambito Realtors

Investment Insights

Based on property information with market context.

This 2,720-square-foot restaurant property at 1693 Quaker Rd in Somerset includes indoor dining and seasonal outdoor seating. The commercial kitchen is equipped with a walk-in cooler and freezer, and the space has been updated. The building dates to 1920.

A second floor offers additional space identified for potential private events, expanded seating, office use, or storage. The restaurant is described as operational, with dining, kitchen, and upper-level areas in place.

Key Highlights

• 2,720‑square‑foot restaurant property
• Commercial kitchen includes a walk‑in cooler and freezer
• Indoor dining area plus seasonal outdoor seating

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

$27,408

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

9.17%

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%

$548,160 $548.2K

Cap Rate 7%

$391,543 $391.5K

Cap Rate 9%

$304,533 $304.5K

Market Conditions

NOI Build-Up for 2,720 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

$39.2K $14.40/SF

− Vacancy

−$2.6K −$0.96/SF

EGI

$36.5K $13.44/SF

− OpEx

−$9.1K −$3.36/SF

NOI

$27.4K $10.08/SF

Area

Niagara County, NY

Vacancy

6.70%

Lease Rate

$14.40 /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%

$548,160

Cap Rate 7%

$391,543

Cap Rate 9%

$304,533

Alternative Uses

Best Use

Specialty Retail

$391.5K

$342.6K – $456.8K (±1% cap)

NOI $27,408 @ 7.0% cap · market cap 9.17%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$2.31M

$2.02M – $2.70M (±1% cap)

NOI $161,782 @ 7.0% cap · market cap 54.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Catering By 2 ... Take-out & Catering The Grain House Restaurant

Suggested Use

Top Pick Auto Parts Store Auto Repair Shop Hair Salon (Bike/Boat/Book/etc) Store Catering Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

9k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Crosby's Shops & Services

4,608 visits/mo 0.3 miles

Dollar General Shops & Services

3,942 visits/mo 0.5 miles

Demographics for 14012, NY

2,334

Population

1,375

Households

1.7

Avg Household Size

42

Median Age

19%

College-Educated

90%

High-School Grad

33.5 sq mi

ZIP Area

70

Density / Sq Mi

$72,333

Median Household Income

$42,282

Median Earnings

$742

Median Rent

$166,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - An equipped commercial kitchen and indoor dining area are complemented by seasonal outdoor seating.

Where is this conventional restaurant located?

The property is located at 1693 Quaker Rd Barker, NY.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: 2,720‑square‑foot restaurant property; Commercial kitchen includes a walk‑in cooler and freezer; Indoor dining area plus seasonal outdoor seating