Restaurant and Bar with
For Sale
$499,900
1857 Van Vranken Avenue, Schenectady, NY 12308
Turnkey restaurant and bar offering indoor and outdoor seating for 75+ guests and a fully equipped commercial kitchen.
Property Size3,521 SF
Price / SF$141.98
Days on Market430
Property Features for 1857 Van Vranken Avenue
General Information
Standard status
Active
Size
3,521 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1910
Year Renovated
2011
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Christine M Serafini
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jun 24, 2025
Changed: Aug 25
Last Checked: Aug 26 at 9:14AM
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 Miranda Real Estate Group Inc
Investment Insights
Based on property information with market context.
This for-sale restaurant and bar is offered as a turnkey package, including the business, building, furniture, and equipment. The property features indoor and outdoor seating for 75+ guests and includes a commercial kitchen with ovens, fryers, a walk-in cooler, and ample prep space. The building was remodeled in 2011, with the outdoor stone patio roof also installed in 2011. Updates include plumbing and electrical, and the property has garage door access to the basement for easier deliveries.
The location places the property just steps from Mohawk Harbor and Rivers Casino, with the future Mohawk Harbor Arena also nearby.
A private parking lot supports customer and operator access, and the property also benefits from plenty of public parking.
The location places the property just steps from Mohawk Harbor and Rivers Casino, with the future Mohawk Harbor Arena also nearby.
A private parking lot supports customer and operator access, and the property also benefits from plenty of public parking.
Key Highlights
- Historic 1910 restaurant/bar building with over 50 years of operating history in Schenectady’s North End
- Indoor and outdoor seating for 75+ guests
- Fully remodeled in 2011 with a large commercial kitchen: ovens, fryers, and walk‑in cooler plus ample prep space
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
$21,777
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
4.36%
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%
$435,540
$435.5K
Cap Rate 7%
$311,100
$311.1K
Cap Rate 9%
$241,967
$242.0K
Market Conditions
NOI Build-Up for 3,521 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
$33.4K $9.48/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$31.1K $8.84/SF
− OpEx
−$9.3K −$2.65/SF
NOI
$21.8K $6.18/SF
Area
Schenectady County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$435,540
Cap Rate 7%
$311,100
Cap Rate 9%
$241,967
Alternative Uses
Best Use
Specialty Retail
$706.9K
$618.6K – $824.7K
NOI $49,484 @ 7.0% cap · market cap 9.90%
Second Best
Industrial
$311.1K
$272.2K – $363.0K
NOI $21,777 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$1.05M
$922.2K – $1.23M
NOI $73,772 @ 7.0% cap · market cap 14.76%
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
746
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
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?
Conventional restaurant - Turnkey restaurant and bar offering indoor and outdoor seating for 75+ guests and a fully equipped commercial kitchen.
Where is this conventional restaurant located?
The property is located at 1857 Van Vranken Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Historic 1910 restaurant/bar building with over 50 years of operating history in Schenectady’s North End; Indoor and outdoor seating for 75+ guests; Fully remodeled in 2011 with a large commercial kitchen: ovens, fryers, and walk‑in cooler plus ample prep space
