Renovated Restaurant With
For Sale
$799,000
209 Broadway, Whitehall, NY 12887
Updated dining facility includes an equipped kitchen, bar area, and two-bedroom apartment.
Property Size6,064 SF
Price / SF$131.76
Days on Market370
Property Features for 209 Broadway
General Information
Standard status
Active
Size
6,064 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Building Details
Year Built
1950
Listing Agency:
Davies Davies & Associates Real Estate LLC
(518) 796-9068
Listed By:
Daniel L Davies · License #49DA1061690
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 16, 2025
Changed: Aug 18
Last Checked: Aug 19 at 10:43AM
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 Davies Davies & Associates Real Estate LLC
Investment Insights
Based on property information with market context.
This 6,064-square-foot restaurant property combines a renovated dining operation with an upstairs residential component. The restaurant includes a main dining room, open table layout, bar area, updated restrooms, and an updated kitchen with prep and storage areas plus newer equipment. Ample parking is also provided. Built in 1950, the property offers a finished configuration for a restaurant operator without requiring a new buildout.
The property is located at 209 Broadway in Whitehall, NY, with exposure along Route 4. The site is positioned near the Vermont border and within reach of Lake George, the Adirondacks, and Vermont ski country. The second floor contains a two-bedroom apartment with modern updates, supporting live-work use, staff housing, or a separate rental arrangement.
The property is located at 209 Broadway in Whitehall, NY, with exposure along Route 4. The site is positioned near the Vermont border and within reach of Lake George, the Adirondacks, and Vermont ski country. The second floor contains a two-bedroom apartment with modern updates, supporting live-work use, staff housing, or a separate rental arrangement.
Key Highlights
- 6,064‑square‑foot restaurant property with an upstairs two‑bedroom apartment
- Renovated dining room with updated lighting and finishes
- Updated commercial kitchen with newer equipment, prep space, and storage
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
$61,398
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
7.68%
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%
$1,227,960
$1.2M
Cap Rate 7%
$877,114
$877.1K
Cap Rate 9%
$682,200
$682.2K
Market Conditions
NOI Build-Up for 6,064 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
$109.2K $18.00/SF
− Vacancy
−$10.9K −$1.80/SF
EGI
$98.2K $16.20/SF
− OpEx
−$36.8K −$6.07/SF
NOI
$61.4K $10.13/SF
Area
Washington County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,227,960
Cap Rate 7%
$877,114
Cap Rate 9%
$682,200
Alternative Uses
Best Use
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,093 @ 7.0% cap · market cap 11.90%
Second Best
Office B
$1.12M
$978.1K – $1.30M
NOI $78,248 @ 7.0% cap · market cap 9.79%
Theoretical Best
Office A
$1.50M
$1.32M – $1.76M
NOI $105,310 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12887, NY
4,966
Population
2,163
Households
2.3
Avg Household Size
42
Median Age
16%
College-Educated
93%
High-School Grad
89.7 sq mi
ZIP Area
55
Density / Sq Mi
$55,361
Median Household Income
$37,113
Median Earnings
$991
Median Rent
$121,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated dining facility includes an equipped kitchen, bar area, and two-bedroom apartment.
Where is this conventional restaurant located?
The property is located at 209 Broadway Whitehall, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 6,064‑square‑foot restaurant property with an upstairs two‑bedroom apartment; Renovated dining room with updated lighting and finishes; Updated commercial kitchen with newer equipment, prep space, and storage
