Turnkey Restaurant with Sports
For Sale
$795,000
2319 Niagara Falls Boulevard, Wheatfield, NY 14304
Former pizzeria and sports bar with an extensive commercial kitchen, patio, and second-story apartment for owner-operator use.
Property Size3,096 SF
Price / SF$256.78
Days on Market50
Property Features for 2319 Niagara Falls Boulevard
General Information
Standard status
Active
Size
3,096 SF
Property subtype
Street Retail
Additional Details
Business Included
Yes
Commercial Hood
Yes
Building Details
Building Size
3,096 SF
Year Built
1961
Listing Agency:
Recckio Real Estate & Development, Inc.
(716) 998-4422
Listed By:
Rick Recckio · License #31RE0821429
(716) 998-4422
Source:
Thebrokerlist
Added: Jun 23
Changed: Aug 8
Last Checked: Aug 11 at 4:37AM
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 Recckio Real Estate & Development, Inc.
Investment Insights
Based on property information with market context.
This 3,096± SF retail/restaurant building was previously operated as a pizzeria and sports bar and is offered as a ready-to-operate food service environment. The space includes a full commercial kitchen with extensive included equipment, including conveyor and pizza cooking equipment, fryers, charbroilers, refrigeration, a walk-in cooler, and a 12-head beer tap system with line cleaning. The package also includes a second-story apartment suitable for an owner-operator or rental income, along with a volleyball court with full underground drainage and an outdoor patio for seasonal dining and events. A paved parking lot provides on-site parking.
The property sits directly on Niagara Falls Blvd., a high-traffic commercial corridor serving Amherst, Wheatfield, Niagara Falls, and Tonawanda. The area is supported by national and regional retailers listed in the remarks, including Super Walmart, Target, Home Depot, Lowe’s, and multiple quick-service and casual dining concepts.
This offering is well suited for an operator looking to open or expand a restaurant, sports bar, or takeout-focused concept, including an event-driven venue that can use both the outdoor patio and on-site activity court. Owner-operators who want live-work capability may find the included second-story apartment especially practical, while investors may value the combination of a turnkey food service setup and a separate rental component.
The property sits directly on Niagara Falls Blvd., a high-traffic commercial corridor serving Amherst, Wheatfield, Niagara Falls, and Tonawanda. The area is supported by national and regional retailers listed in the remarks, including Super Walmart, Target, Home Depot, Lowe’s, and multiple quick-service and casual dining concepts.
This offering is well suited for an operator looking to open or expand a restaurant, sports bar, or takeout-focused concept, including an event-driven venue that can use both the outdoor patio and on-site activity court. Owner-operators who want live-work capability may find the included second-story apartment especially practical, while investors may value the combination of a turnkey food service setup and a separate rental component.
Key Highlights
- 3,096± SF retail/restaurant building built in 1961, formerly a pizzeria and sports bar.
- Fully equipped commercial kitchen with included equipment, including dual conveyor oven and new pizza oven.
- Outdoor patio for seasonal dining and events plus a volleyball court with full underground drainage.
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
$31,197
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
3.92%
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%
$623,940
$623.9K
Cap Rate 7%
$445,671
$445.7K
Cap Rate 9%
$346,633
$346.6K
Market Conditions
NOI Build-Up for 3,096 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
$44.6K $14.40/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$41.6K $13.44/SF
− OpEx
−$10.4K −$3.36/SF
NOI
$31.2K $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%
$623,940
Cap Rate 7%
$445,671
Cap Rate 9%
$346,633
Alternative Uses
Best Use
Specialty Retail
$445.7K
$390.0K – $520.0K
NOI $31,197 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.63M
$2.30M – $3.07M
NOI $184,146 @ 7.0% cap · market cap 23.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
23k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 35%
Tim Hortons
Dining
14,926 visits/mo
0.2 miles
Dollar General
Shops & Services
7,402 visits/mo
0.0 miles
Gerber Collision & Glass
Shops & Services
469 visits/mo
0.5 miles
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?
Conventional restaurant - Former pizzeria and sports bar with an extensive commercial kitchen, patio, and second-story apartment for owner-operator use.
Where is this conventional restaurant located?
The property is located at 2319 Niagara Falls Boulevard Wheatfield, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 3,096± SF retail/restaurant building built in 1961, formerly a pizzeria and sports bar.; Fully equipped commercial kitchen with included equipment, including dual conveyor oven and new pizza oven.; Outdoor patio for seasonal dining and events plus a volleyball court with full underground drainage.
