Mixed-Use Restaurant and
2389 State Route 5 Utica, NY 13502
2389 State Route 5, Utica, NY, 13502
$1,299,000
For Sale
$1,299,000
Fully operational restaurant and 14 apartment units on approximately 2 acres along State Route 5.
Property Size13,632 SF
Lot Size2.00 Acres
Price / SF$95.29
Days on Market80
Property Features for 2389 State Route 5
General Information
- Standard status
- Active
- Size
- 13,632 SF
- Lot size
- 2.00 Acres
Listing agency
The Beach Real Estate Team
(315) 796-3533
Listed by
Sheila A. Beach
(315) 796-3533
Source
Exprealty
Added: May 4 Updated: Jul 22 at 9:24AM Checked: Jul 22 at 9:24AM
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 The Beach Real Estate Team
Investment Insights
Based on property information with market context.
This mixed-use income property combines a fully operational restaurant with 14 apartment units. The restaurant, Papa Charlie’s Country Barbeque & Ice Cream, is currently owner-operated, and the residential component provides established rental housing.
The property is located on State Route 5 in Schuyler and sits on approximately 2 acres. It is being offered for sale as a turnkey combination of foodservice and multifamily income.
With restaurant operations and apartment units already in place, the property is set up to support multiple income streams within one site.
The property is located on State Route 5 in Schuyler and sits on approximately 2 acres. It is being offered for sale as a turnkey combination of foodservice and multifamily income.
With restaurant operations and apartment units already in place, the property is set up to support multiple income streams within one site.
Key Highlights
- Mixed‑use property in Schuyler featuring a fully operational Papa Charlie’s Country Barbeque & Ice Cream restaurant
- Includes 14 apartment units providing residential rental income
- Property sits on approximately 2 acres along State Route 5
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $220.8k | $16.20 |
| − Vacancy | −$14.5k | −$1.06 |
| EGI | $206.3k | $15.14 |
| − OpEx | −$92.8k | −$6.81 |
| NOI | $113.5k | $8.32 |
13,632 SF · lease $16.20/SF/yr · vacancy 6.57% · expense 45.00%
Alternative Uses
Best Use
Mixed Use
$2.31M
$2.02M – $2.70M
NOI $161,948 @ 7.0% cap · market cap 12.47%
Second Best
Specialty Retail
$2.24M
$1.96M – $2.62M
NOI $157,016 @ 7.0% cap · market cap 12.09%
Theoretical Best
Office A
$3.59M
$3.14M – $4.19M
NOI $251,461 @ 7.0% cap · market cap 19.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully operational restaurant and 14 apartment units on approximately 2 acres along State Route 5.
Where is this mixed-use property located?
The property is located at 2389 State Route 5 Utica, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Mixed‑use property in Schuyler featuring a fully operational Papa Charlie’s Country Barbeque & Ice Cream restaurant; Includes 14 apartment units providing residential rental income; Property sits on approximately 2 acres along State Route 5
