Historic Restaurant
For Sale
$375,000
20 Brinkerhoff Street, Plattsburgh, NY 12901
Commercial Sale, Plattsburgh, NY
Property Size4,383 SF
Lot Size0.05 Acres
Price / SF$85.56
Days on Market255
Property Features for 20 Brinkerhoff Street
General Information
Property type
Commercial Sale
Property subtype
Other
Interior features
High Ceilings
Basement
Full, Partially Finished
Appliances
Electric Range, Refrigerator
Directions
Take Oak Street, right onto Brinkerhoff, building is on the left.
Standard status
Active
APN
207.74-2-17
Size
4,383 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7217
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1920
Building materials
Brick
Roof type
Rubber
Listing Agency:
Century 21 The One · Century 21 Real Estate
(518) 563-7350
Listed By:
Vanessa Davies
(518) 802-7732
Added: Jan 19
Changed: Oct 1
Last Checked: Oct 1 at 10:06PM
MLS# 206455
Copyright © 2026 Adirondack Champlain Valley MLS. 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.
Built in 1920, this brick commercial building combines restaurant space with three residential apartments. The property includes a full dry-storage basement, a large walk-in cooler, high ceilings, electric baseboard heat, ductless cooling, and public water and sewer. Restaurant-related equipment includes an electric range and refrigerator.
The residential component includes a two-bedroom top-floor flat with a private balcony and refinished hardwood floors, plus a one-bedroom apartment and a studio on the second floor. The upper-level units share views toward the park, while the restored stairway retains original architectural character. A residence entrance awning and a separate roll-out awning serve the building’s exterior.
The property occupies 0.05 acres and contains 4,383 square feet at 20 Brinkerhoff Street in Plattsburgh. The building is across from the Strand Center for the Arts and Strand Theatre, with outdoor seating along Brinkerhoff Street.
The residential component includes a two-bedroom top-floor flat with a private balcony and refinished hardwood floors, plus a one-bedroom apartment and a studio on the second floor. The upper-level units share views toward the park, while the restored stairway retains original architectural character. A residence entrance awning and a separate roll-out awning serve the building’s exterior.
The property occupies 0.05 acres and contains 4,383 square feet at 20 Brinkerhoff Street in Plattsburgh. The building is across from the Strand Center for the Arts and Strand Theatre, with outdoor seating along Brinkerhoff Street.
Key Highlights
- 4,383‑square‑foot restaurant and residential building on 0.05 acres
- Built in 1920 with brick construction and restored original stairway
- Three residential apartments: 2‑bedroom, 1‑bedroom, and studio
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
$33,267
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
8.87%
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%
$665,340
$665.3K
Cap Rate 7%
$475,243
$475.2K
Cap Rate 9%
$369,633
$369.6K
Market Conditions
NOI Build-Up for 4,383 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
$65.7K $15.00/SF
− Vacancy
−$5.3K −$1.20/SF
EGI
$60.5K $13.80/SF
− OpEx
−$27.2K −$6.21/SF
NOI
$33.3K $7.59/SF
Area
Clinton County, NY
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$665,340
Cap Rate 7%
$475,243
Cap Rate 9%
$369,633
Alternative Uses
Best Use
Specialty Retail
$809.8K
$708.6K – $944.8K
NOI $56,685 @ 7.0% cap · market cap 15.12%
Second Best
Retail
$768.4K
$672.4K – $896.5K
NOI $53,790 @ 7.0% cap · market cap 14.34%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,574 @ 7.0% cap · market cap 22.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant use is paired with three residential apartments, storage space, and a walk-in cooler.
Where is this conventional restaurant located?
The property is located at 20 Brinkerhoff Street Plattsburgh, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 4,383‑square‑foot restaurant and residential building on 0.05 acres; Built in 1920 with brick construction and restored original stairway; Three residential apartments: 2‑bedroom, 1‑bedroom, and studio
