Restaurant Property with Event
For Sale
$575,000
258 Hamilton Street, Geneva, NY 14456
Established commercial property with dining areas, a full-service bar, event rooms, and a high-capacity kitchen.
Property Size6,273 SF
Price / SF$91.66
Days on Market50
Property Features for 258 Hamilton Street
General Information
Standard status
Active
Size
6,273 SF
Property subtype
CommercialSale
Listing Agency:
Coldwell Banker Finger Lakes
(315) 789-6768
Listed By:
John P. Parrott III · License #10301221870
(315) 789-6768
Source:
Nicholcityrealty
Added: Jul 10
Changed: Aug 27
Last Checked: Aug 27 at 10:45PM
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 Coldwell Banker Finger Lakes
Investment Insights
Based on property information with market context.
This 6,273-square-foot restaurant property at 258 Hamilton Street includes expansive dining areas, a full-service bar, dedicated event spaces, and a commercial kitchen equipped with high-capacity equipment. The layout currently supports restaurant, bar, and event operations, including private gatherings, live entertainment, community events, and off-site catering activity.
The property occupies a corner lot with ample parking and is directly across from Hobart and William Smith Colleges and near Wegmans. Seneca Lake and other regional attractions are also nearby. Its flexible configuration is identified as suitable for continued restaurant use or possible adaptation for retail, wine tasting, residential, or other creative ventures.
The property occupies a corner lot with ample parking and is directly across from Hobart and William Smith Colleges and near Wegmans. Seneca Lake and other regional attractions are also nearby. Its flexible configuration is identified as suitable for continued restaurant use or possible adaptation for retail, wine tasting, residential, or other creative ventures.
Key Highlights
- 6,273‑square‑foot restaurant, bar, and event property
- Expansive dining areas with a full‑service bar
- Event spaces used for private gatherings, live entertainment, and community events
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
$38,547
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
6.70%
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%
$770,940
$770.9K
Cap Rate 7%
$550,671
$550.7K
Cap Rate 9%
$428,300
$428.3K
Market Conditions
NOI Build-Up for 6,273 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
$59.5K $9.48/SF
− Vacancy
−$4.4K −$0.70/SF
EGI
$55.1K $8.78/SF
− OpEx
−$16.5K −$2.63/SF
NOI
$38.5K $6.14/SF
Area
Ontario County, NY
Vacancy
7.40%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$770,940
Cap Rate 7%
$550,671
Cap Rate 9%
$428,300
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $98,980 @ 7.0% cap · market cap 17.21%
Second Best
Industrial
$550.7K
$481.8K – $642.5K
NOI $38,547 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,432 @ 7.0% cap · market cap 22.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
139k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 34%
Dining 32%
Shops & Services 22%
Office Supplies 4%
Wegmans
Groceries
47,136 visits/mo
0.2 miles
McDonald's
Dining
26,802 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,003 visits/mo
0.4 miles
Arby's
Dining
10,669 visits/mo
0.1 miles
Tim Hortons
Dining
6,967 visits/mo
0.5 miles
Demographics for 14456, NY
19,602
Population
9,087
Households
2.2
Avg Household Size
38
Median Age
34%
College-Educated
90%
High-School Grad
77.3 sq mi
ZIP Area
254
Density / Sq Mi
$74,691
Median Household Income
$38,782
Median Earnings
$967
Median Rent
$166,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Ling Ling Chinese Buffet — 481 Hamilton St, Geneva, NY 14456
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established commercial property with dining areas, a full-service bar, event rooms, and a high-capacity kitchen.
Where is this conventional restaurant located?
The property is located at 258 Hamilton Street Geneva, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 6,273‑square‑foot restaurant, bar, and event property; Expansive dining areas with a full‑service bar; Event spaces used for private gatherings, live entertainment, and community events
