Freestanding Conventional
New
For Sale
$185,000
19 Forgham Street, Lyons, NY 14489
CommercialSale, Lyons, NY
Property Size1,250 SF
Lot Size0.50 Acres
Price / SF$148
Days on Market1
Property Features for 19 Forgham Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm Coor
Zoning description
Commercial
Parking
10
Lot features
Irregular Lot
Elementary school district
Lyons
Middle school district
Lyons
High school district
Lyons
Directions
Take NYS Route 31 (Forgham Street) into Lyons. Look for the former Subway restaurant.
Subdivision
Lyons-542800
Standard status
Active
APN
542800-071-111-0013-041-497-0000
Size
1,250 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
3003
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Number of units
1
Roof type
Shingle, Asphalt
Listing Agency:
Realmart Realty, LLC
(888) 362-6543
Listed By:
Jack Qizhan Yao · License #10491203908
(888) 362-6543
Added: Aug 20
Last Checked: Aug 20 at 7:06PM
MLS# R1708771
Copyright © 2026 New York State Alliance of MLSs, LLC. 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 freestanding restaurant property at 19 Forgham Street includes a building constructed in 2002 for restaurant use. The former Subway location has an existing drive-through window, on-site parking, prominent signage opportunities, and a layout that can support restaurant or other commercial reuse, subject to municipal approvals. The property is vacant and available for occupancy or renovation, with the sale including the land and building. It is being offered as-is.
The property sits along the Route 31 commercial corridor in Lyons, directly across from McDonald's and near established commercial businesses. Public water and public sewer serve the site. Building systems include forced-air heating with natural gas and central air conditioning, while the roof is shingle and asphalt.
The property sits along the Route 31 commercial corridor in Lyons, directly across from McDonald's and near established commercial businesses. Public water and public sewer serve the site. Building systems include forced-air heating with natural gas and central air conditioning, while the roof is shingle and asphalt.
Key Highlights
- Freestanding restaurant building constructed in 2002
- Existing drive‑through window and on‑site parking
- Located along the Route 31 commercial corridor
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
$16,597
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
8.97%
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%
$331,940
$331.9K
Cap Rate 7%
$237,100
$237.1K
Cap Rate 9%
$184,411
$184.4K
Market Conditions
NOI Build-Up for 1,250 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
$23.1K $18.48/SF
− Vacancy
−$970 −$0.78/SF
EGI
$22.1K $17.70/SF
− OpEx
−$5.5K −$4.43/SF
NOI
$16.6K $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%
$331,940
Cap Rate 7%
$237,100
Cap Rate 9%
$184,411
Alternative Uses
Best Use
Specialty Retail
$237.1K
$207.5K – $276.6K
NOI $16,597 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$336.7K
$294.6K – $392.9K
NOI $23,571 @ 7.0% cap · market cap 12.74%
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
Under-served
Demand for This Use
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?
Conventional restaurant - Vacant restaurant property with an existing drive-through window, on-site parking, and public water and sewer service.
Where is this conventional 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: Freestanding restaurant building constructed in 2002; Existing drive‑through window and on‑site parking; Located along the Route 31 commercial corridor
