Two-Story Restaurant
For Sale
Contact for pricing
2 Freemans Brg Rd, Schenectady, NY 12302
Includes FF&E, permits, docks, and shared rights to a large parking lot.
Property Size4,500 SF
Price / SF$366.67
Days on Market391
Property Features for 2 Freemans Brg Rd
General Information
Standard status
Active
Size
4,500 SF
Property subtype
RETAIL
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Traffic Count
12,163 vehicles/day
Amenities
docks
river views
Building Details
Buildings
1
Stories
2
Listing Agency:
CBRE | Albany
(518) 281-6942
Listed By:
John MacAffer · License #30MA0901034
(518) 281-6942
Source:
Moodyscre
Added: Jul 18, 2025
Changed: Jul 31
Last Checked: Aug 12 at 11:08AM
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 CBRE | Albany
Investment Insights
Based on property information with market context.
This ±4,500 SF, two-story building includes a ±3,500 SF restaurant with indoor seating for 200 people and outdoor seating for 175 people. The offering includes the building, FF&E, docks, permits, and shared parking rights to a large ±250-space parking lot. The property has a 20-year operating history and views of the Mohawk River.
Located at 2 Freemans Brg Rd in Schenectady, the property has an AADT traffic count of 12,163 and is in close proximity to four hotels, several apartment complexes, and Rivers Casino and Resort. The restaurant’s existing configuration, equipment, seating areas, and parking rights support continued restaurant operations, with lease options also available.
Located at 2 Freemans Brg Rd in Schenectady, the property has an AADT traffic count of 12,163 and is in close proximity to four hotels, several apartment complexes, and Rivers Casino and Resort. The restaurant’s existing configuration, equipment, seating areas, and parking rights support continued restaurant operations, with lease options also available.
Key Highlights
- ±4,500 SF two‑story building with a ±3,500 SF restaurant
- Indoor seating for 200 people and outdoor seating for 175 people
- Building, FF&E, docks, and permits included
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
$63,242
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
3.83%
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%
$1,264,840
$1.3M
Cap Rate 7%
$903,457
$903.5K
Cap Rate 9%
$702,689
$702.7K
Market Conditions
NOI Build-Up for 4,500 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
$88.0K $19.56/SF
− Vacancy
−$3.7K −$0.82/SF
EGI
$84.3K $18.74/SF
− OpEx
−$21.1K −$4.68/SF
NOI
$63.2K $14.05/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$19.56 /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%
$1,264,840
Cap Rate 7%
$903,457
Cap Rate 9%
$702,689
Alternative Uses
Best Use
Specialty Retail
$903.5K
$790.5K – $1.05M
NOI $63,242 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,284 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,163 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12302, NY
27,618
Population
12,406
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
638
Density / Sq Mi
$94,156
Median Household Income
$55,305
Median Earnings
$1,207
Median Rent
$240,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes FF&E, permits, docks, and shared rights to a large parking lot.
Where is this conventional restaurant located?
The property is located at 2 Freemans Brg Rd Schenectady, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: ±4,500 SF two‑story building with a ±3,500 SF restaurant; Indoor seating for 200 people and outdoor seating for 175 people; Building, FF&E, docks, and permits included
