Freestanding Drive-Through
For Sale
$185,000
19 Forgham Street, Lyons, NY 14489
Vacant restaurant building with existing food-service infrastructure, on-site parking, and flexible reuse potential subject to approvals.
Property Size1,250 SF
Lot Size0.49 Acres
Price / SF$160.59
Days on Market9
Property Features for 19 Forgham Street
General Information
Standard status
Active
Size
1,250 SF
Lot size
0.49 Acres
Property subtype
Commercial
Additional Details
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$3,003
Building Details
Building Size
1,250 SF
Year Built
2002
Buildings
1
Listing Agency:
Realmart Realty, LLC
(888) 362-6543
Listed By:
Jack Qizhan Yao · License #10491203908
(888) 362-6543
Source:
Griffith-realty
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 26 at 9:48AM
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 Realmart Realty, LLC
Investment Insights
Based on property information with market context.
This freestanding restaurant property includes a building constructed in 2002 for food-service use on a 0.49-acre parcel. The site includes an existing drive-through window, restaurant infrastructure, prominent signage opportunities, and on-site parking. The property is vacant, offered as-is, and includes the land and building.
Located along the Route 31 commercial corridor in Lyons, the property sits within the community’s primary commercial area, across from McDonald’s and near established businesses. The building’s prior use as a Subway restaurant supports continued restaurant occupancy, while the layout may also accommodate retail or professional-service reuse subject to municipal approvals.
The property is available for immediate occupancy or renovation. Any furniture, fixtures, or equipment included in the sale should be identified separately.
Located along the Route 31 commercial corridor in Lyons, the property sits within the community’s primary commercial area, across from McDonald’s and near established businesses. The building’s prior use as a Subway restaurant supports continued restaurant occupancy, while the layout may also accommodate retail or professional-service reuse subject to municipal approvals.
The property is available for immediate occupancy or renovation. Any furniture, fixtures, or equipment included in the sale should be identified separately.
Key Highlights
- 0.49‑acre parcel with a 1,152‑square‑foot freestanding commercial building
- Constructed in 2002 specifically for restaurant use
- Existing drive‑through window and restaurant infrastructure
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
$15,296
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
8.27%
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%
$305,920
$305.9K
Cap Rate 7%
$218,514
$218.5K
Cap Rate 9%
$169,956
$170.0K
Market Conditions
NOI Build-Up for 1,152 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
$21.3K $18.48/SF
− Vacancy
−$894 −$0.78/SF
EGI
$20.4K $17.70/SF
− OpEx
−$5.1K −$4.43/SF
NOI
$15.3K $13.28/SF
Area
Wayne County, NY
Vacancy
4.20%
Lease Rate
$18.48 /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%
$305,920
Cap Rate 7%
$218,514
Cap Rate 9%
$169,956
Alternative Uses
Best Use
Specialty Retail
$218.5K
$191.2K – $254.9K
NOI $15,296 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.3K
$271.5K – $362.1K
NOI $21,723 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 36%
Groceries 27%
McDonald's
Dining
16,816 visits/mo
0.1 miles
Aldi
Groceries
13,917 visits/mo
0.5 miles
Kwik Fill
Shops & Services
8,422 visits/mo
0.0 miles
Dollar General
Shops & Services
7,734 visits/mo
0.3 miles
SUBWAY
Dining
3,048 visits/mo
0.1 miles
Demographics for 14489, NY
7,347
Population
3,065
Households
2.4
Avg Household Size
44
Median Age
19%
College-Educated
83%
High-School Grad
69.6 sq mi
ZIP Area
106
Density / Sq Mi
$67,169
Median Household Income
$36,415
Median Earnings
$966
Median Rent
$101,100
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?
Drive through restaurant - Vacant restaurant building with existing food-service infrastructure, on-site parking, and flexible reuse potential subject to approvals.
Where is this drive through restaurant located?
The property is located at 19 Forgham Street Lyons, NY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 0.49‑acre parcel with a 1,152‑square‑foot freestanding commercial building; Constructed in 2002 specifically for restaurant use; Existing drive‑through window and restaurant infrastructure
