Established Restaurant and Lounge in
For Sale
$299,900
176 W Fulton Street, Gloversville, NY 12078
Restaurant and lounge with banquet room and parking in Gloversville.
Property Size3,240 SF
Price / SF$92.56
Days on Market221
Property Features for 176 W Fulton Street
General Information
Standard status
Active
Size
3,240 SF
Total Parking Spaces
28
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$5,866
Building Details
Year Built
1966
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Thomas Marks · License #30MA0342302
(518) 421-1400
Source:
Capmarkrealty
Added: Jan 26
Changed: Sep 4
Last Checked: Sep 2 at 2:10AM
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.
Located in Gloversville, this restaurant and lounge presents a unique opportunity. The property has been operating for almost six decades under consistent ownership. It is equipped to accommodate large gatherings, featuring two dining rooms with seating for 120 people and a banquet room that can accommodate an additional 125 people. The venue provides handicap access. There are three fully outfitted kitchens and two walk-in coolers. The property includes 20 on-site parking spaces. Adjacent to the property, there is an optional 2-family home with 8 additional parking spots available for purchase.
Key Highlights
- Established restaurant and lounge with nearly 60 years of consistent ownership.
- Large capacity: Two dining rooms (120 seats) and a banquet room (125 seats).
- Three fully outfitted kitchens and two walk‑in coolers.
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
$12,466
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
4.16%
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%
$249,320
$249.3K
Cap Rate 7%
$178,086
$178.1K
Cap Rate 9%
$138,511
$138.5K
Market Conditions
NOI Build-Up for 3,240 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
$58.3K $18.00/SF
− Vacancy
−$32.1K −$9.90/SF
EGI
$26.2K $8.10/SF
− OpEx
−$13.8K −$4.25/SF
NOI
$12.5K $3.85/SF
Area
Fulton County, NY
Vacancy
55.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$249,320
Cap Rate 7%
$178,086
Cap Rate 9%
$138,511
Alternative Uses
Best Use
Specialty Retail
$650.5K
$569.2K – $758.9K
NOI $45,535 @ 7.0% cap · market cap 15.18%
Second Best
Hotel Hospitality
$178.1K
$155.8K – $207.8K
NOI $12,466 @ 7.0% cap · market cap 4.16%
Theoretical Best
Multifamily LT 5
$2.24M
$1.96M – $2.61M
NOI $156,791 @ 7.0% cap · market cap 52.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant and lounge with banquet room and parking in Gloversville.
Where is this restaurant located?
The property is located at 176 W Fulton Street Gloversville, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Established restaurant and lounge with nearly 60 years of consistent ownership.; Large capacity: **Two dining rooms (120 seats) and a banquet room (125 seats).**; Three fully outfitted kitchens and two walk‑in coolers.
