2 Freemans Brg Rd, Schenectady, NY 12302

Building Details

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Listing Agency: CBRE | Albany Show Phone

Listed By: John MacAffer · License NY 30MA0901034 Show Phone

Source: Moodyscre

Added: Jul 18, 2025 Changed: Nov 5 Last Checked: Nov 8 at 7:16AM

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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.

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 / Yr

$63,242

Cap Rate

3.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,264,840 $1.3M

Cap Rate 7%

$903,457 $903.5K

Cap Rate 9%

$702,689 $702.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,500 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $94,284 @ 7.0% cap · market cap 5.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Terrace At the Waters Edge Wedding Service Barrier Free Systems, ... General Contractor Max410 at The Waters Edge Restaurant

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Building Supply Skin Care Clinic Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Average Price Trend$/SF for Conventional restaurants in Schenectady County, NY

$177 Jul

$202 Aug

$107 Sep

$115 Oct

Properties on Market for Conventional restaurants in Schenectady County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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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