Building Details

Year Built 1839

Listing Agency: Saratoga Spa Realty e***@gmail.com Show Phone

Listed By: Erin Roth · License #10401343241 Show Phone

Source: Exprealty

Added: Jun 1 Changed: Jul 10 Last Checked: Jul 31 at 1:22PM

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Investment Insights

Based on property information with market context.

The Waterwheel is a historic, landmark commercial property totaling 8,931 square feet, offered for sale. The building dates to 1839, originally constructed as a water-powered plow foundry. It later became known as Waterwheel Village, operating as a country-store style destination with offerings referenced in the property remarks, including aged New York cheddar, homemade pies, and penny candies.

Located at 2259 Route 29 in Galway, NY, the property is presented as an opportunity to preserve and re-purpose a well-known local site. The enclosed structure and its established identity as a visitor-style retail and food stop support a range of redevelopment concepts, while keeping the historic character central to the experience.

This property may appeal to buyers seeking a distinctive redevelopment project where the existing landmark story can be carried forward, whether through restoration or reinvention. For operators, the combination of a historic main building and its prior restaurant and storefront use can serve as a starting point for a dining, retail, or mixed-use concept, subject to applicable approvals. The current offering is positioned for a new vision for a Saratoga County landmark.

Key Highlights

• Historic landmark property originally built in 1839 as a water‑powered plow foundry
• Later operated as Waterwheel Village, known for aged New York cheddar, homemade pies, and penny candies
• Includes restaurant and storefront potential, anchored by a landmark waterwheel‑built structure

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Bakery Skin Care Clinic Acupuncture Gym & Fitness Center Spa & Massage Center

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

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12074, NY

2,901

Population

1,577

Households

1.8

Avg Household Size

49

Median Age

29%

College-Educated

88%

High-School Grad

34.3 sq mi

ZIP Area

85

Density / Sq Mi

$91,901

Median Household Income

$46,303

Median Earnings

$1,600

Median Rent

$287,600

Median Home Value

Market

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 - For sale historic property with restaurant and storefront potential, anchored by a landmark waterwheel-built structure.

Where is this conventional restaurant located?

The property is located at 2259 Route 29 Galway, NY.

What is the asking price?

The asking price for this property is $269,000.

What are key features of this property?

This property features: Historic landmark property originally built in 1839 as a water‑powered plow foundry; Later operated as Waterwheel Village, known for aged New York cheddar, homemade pies, and penny candies; Includes restaurant and storefront potential, anchored by a landmark waterwheel‑built structure