Turn-Key Restaurant Near Jackson
For Sale
$2,700,000
20 Center St, Batavia, NY 14020
Three-story restaurant with rooftop patio and mobile food options.
Property Size14,064 SF
Lot Size0.14 Acres
Days on Market174
Property Features for 20 Center St
General Information
Standard status
Active
Size
14,064 SF
Lot size
0.14 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,161
Building Details
Building Size
14,064 SF
Year Built
1930
Stories
2
Listing Agency:
Small City Realty WNY LLC
(585) 409-1088
Listed By:
Zachary Korzelius
(585) 409-1088
Source:
Elliman
Added: Mar 11
Changed: Aug 31
Last Checked: Aug 30 at 10:08PM
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 Small City Realty WNY LLC
Investment Insights
Based on property information with market context.
This three-story restaurant is located near Jackson Square, an area known for live bands and community events. The property, currently operating as Center Street Smokehouse, is a turn-key establishment with a finished basement and dining space across three levels. A rooftop patio provides space for dining and events. The sale includes commercial kitchen equipment, a professional-grade smoker, two food trucks, and a delivery vehicle, offering potential revenue streams. The property benefits from high foot traffic and a location in a culturally rich area. This presents an opportunity for both experienced operators and entrepreneurs to further develop the space.
Key Highlights
- Turn‑key restaurant with all commercial kitchen equipment included.
- Rooftop patio for dining and events.
- Includes two fully‑operational food trucks and a dedicated delivery vehicle.
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
$181,890
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
6.74%
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%
$3,637,800
$3.6M
Cap Rate 7%
$2,598,429
$2.6M
Cap Rate 9%
$2,021,000
$2.0M
Market Conditions
NOI Build-Up for 14,064 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
$253.2K $18.00/SF
− Vacancy
−$10.6K −$0.76/SF
EGI
$242.5K $17.24/SF
− OpEx
−$60.6K −$4.31/SF
NOI
$181.9K $12.93/SF
Area
Genesee County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$3,637,800
Cap Rate 7%
$2,598,429
Cap Rate 9%
$2,021,000
Alternative Uses
Best Use
Specialty Retail
$2.60M
$2.27M – $3.03M
NOI $181,890 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$13.05M
$11.42M – $15.23M
NOI $913,794 @ 7.0% cap · market cap 33.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
86k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 45%
Groceries 2%
Home Improvements & Furnishings 1%
Wendy's
Dining
21,014 visits/mo
0.2 miles
Tim Hortons
Dining
18,534 visits/mo
0.2 miles
Dollar General
Shops & Services
10,490 visits/mo
0.4 miles
Kwik Fill
Shops & Services
6,286 visits/mo
0.2 miles
M&T Bank
Shops & Services
5,732 visits/mo
0.2 miles
Demographics for 14020, NY
22,627
Population
10,930
Households
2.1
Avg Household Size
43
Median Age
23%
College-Educated
92%
High-School Grad
66.3 sq mi
ZIP Area
341
Density / Sq Mi
$59,834
Median Household Income
$43,031
Median Earnings
$915
Median Rent
$148,100
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 - Three-story restaurant with rooftop patio and mobile food options.
Where is this conventional restaurant located?
The property is located at 20 Center St Batavia, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Turn‑key restaurant with all commercial kitchen equipment included.; Rooftop patio for dining and events.; Includes two fully‑operational food trucks and a dedicated delivery vehicle.
