Renovated Restaurant With
For Sale
$799,000
209 Broadway, Whitehall, NY 12887
COMMERCIAL - Whitehall, NY
Property Size6,064 SF
Lot Size0.81 Acres
Price / SF$131.76
Days on Market366
Property Features for 209 Broadway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
50
Patio and Porch features
Porch
Basement
Full
Lot features
Road Frontage
Elementary school
Whitehall
High school
Whitehall
Elementary school district
Whitehall
Middle school district
Whitehall
High school district
Whitehall
Directions
Broadway (Route 4) in Whitehall Village, across from 1st Avenue
Standard status
Active
APN
535201 60.9-2-7
Size
6,064 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Annual Amount
14116
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Flooring type
Hardwood
Building materials
Vinyl Siding, Wood Siding
Listing Agency:
Davies Davies & Associates Real Estate LLC
(518) 656-9068
Listed By:
Daniel L Davies · License #49DA1061690
(518) 796-9068
Added: Aug 20, 2025
Changed: Aug 13
Last Checked: Aug 20 at 9:06AM
MLS# 202524253
Copyright © 2026 Global MLS, Inc. 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.
This 6,064-square-foot restaurant property combines a renovated commercial operation with an upstairs two-bedroom apartment. The restaurant includes a dining room with updated lighting and finishes, an open seating arrangement, large windows, a bar area, updated restrooms, and a fully equipped kitchen with prep and storage areas. Hardwood flooring, vinyl and wood siding, forced-air heating, and a porch are among the property’s physical features. The building was constructed in 1950 and occupies 0.81 acres.
Located on Route 4 in Whitehall, the property offers exposure along a regional thoroughfare and is positioned near the Vermont border. Public water and public sewer serve the property. Commercial zoning supports its current restaurant use, while the apartment provides an on-site residential component for an owner-operator, staff housing, or separate rental use.
Located on Route 4 in Whitehall, the property offers exposure along a regional thoroughfare and is positioned near the Vermont border. Public water and public sewer serve the property. Commercial zoning supports its current restaurant use, while the apartment provides an on-site residential component for an owner-operator, staff housing, or separate rental use.
Key Highlights
- 6,064‑square‑foot restaurant property on 0.81 acres
- Renovated dining room, kitchen, bar area, and restrooms
- Fully equipped kitchen with prep and storage space
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial restaurant property with an updated kitchen, dining area, bar, parking, and an upstairs 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 on 0.81 acres; Renovated dining room, kitchen, bar area, and restrooms; Fully equipped kitchen with prep and storage space
