Freestanding Restaurant
For Sale
$299,900
2298 River Road, Wheatfield, NY 14304
Turnkey freestanding restaurant with prominent signage, high traffic exposure, and included equipment.
Property Size1,680 SF
Days on Market37
Property Features for 2298 River Road
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,086
Building Details
Building Size
1,680 SF
Year Built
1992
Listing Agency:
Century 21 North East
(716) 545-9743
Listed By:
David M Pascucci · License #10301223803
(716) 545-9743
Source:
Highfallssir
Added: Jul 24
Changed: Aug 26
Last Checked: Aug 29 at 3:40PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
Freestanding commercial restaurant property currently operating as a breakfast and lunch concept. The building is just under 1,700 square feet and offers a diner-style interior with a mix of classic character and tasteful modern touches. The sale includes the building and existing restaurant equipment, supporting a turnkey handoff for the next owner.
The property is positioned for strong visibility with prominent signage and is described as having high traffic exposure. It also offers ample on-site parking. WalkScore is listed as 0 with car-dependent access, and the bikeScore is listed as 25, somewhat bikeable.
For-sale as an operating, equipment-included restaurant location at 2298 River Rd in Wheatfield, NY, it’s well suited for continued use as a breakfast and lunch destination or for redevelopment into a different concept, subject to applicable approvals.
The property is positioned for strong visibility with prominent signage and is described as having high traffic exposure. It also offers ample on-site parking. WalkScore is listed as 0 with car-dependent access, and the bikeScore is listed as 25, somewhat bikeable.
For-sale as an operating, equipment-included restaurant location at 2298 River Rd in Wheatfield, NY, it’s well suited for continued use as a breakfast and lunch destination or for redevelopment into a different concept, subject to applicable approvals.
Key Highlights
- Freestanding commercial restaurant building built in 1992
- Just under 1,700 SF and currently operating as a breakfast and lunch destination
- Includes the building and existing restaurant equipment
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
$16,928
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
5.64%
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%
$338,560
$338.6K
Cap Rate 7%
$241,829
$241.8K
Cap Rate 9%
$188,089
$188.1K
Market Conditions
NOI Build-Up for 1,680 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
$24.2K $14.40/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$22.6K $13.44/SF
− OpEx
−$5.6K −$3.36/SF
NOI
$16.9K $10.08/SF
Area
Niagara County, NY
Vacancy
6.70%
Lease Rate
$14.40 /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%
$338,560
Cap Rate 7%
$241,829
Cap Rate 9%
$188,089
Alternative Uses
Best Use
Specialty Retail
$241.8K
$211.6K – $282.1K
NOI $16,928 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.43M
$1.25M – $1.67M
NOI $99,924 @ 7.0% cap · market cap 33.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14304, NY
28,923
Population
13,705
Households
2.1
Avg Household Size
45
Median Age
25%
College-Educated
92%
High-School Grad
21.5 sq mi
ZIP Area
1,345
Density / Sq Mi
$64,756
Median Household Income
$42,613
Median Earnings
$901
Median Rent
$151,500
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?
Breakfast & diner - Turnkey freestanding restaurant with prominent signage, high traffic exposure, and included equipment.
Where is this breakfast & diner located?
The property is located at 2298 River Road Wheatfield, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Freestanding commercial restaurant building built in 1992; Just under 1,700 SF and currently operating as a breakfast and lunch destination; Includes the building and existing restaurant equipment
