Updated Lakeside
New
For Sale
$295,000
266 County Route 7, Nassau, NY 12123
Seasonal dining venue with dock access, outdoor seating, and a fully equipped commercial kitchen.
Property Size950 SF
Price / SF$310.53
Days on Market5
Property Features for 266 County Route 7
General Information
Standard status
Active
Size
950 SF
Total Parking Spaces
25
Property subtype
Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Restaurant
Commercial Hood
Yes
Patio
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$2,266
Amenities
docks and gangway
dining pavilion
hardwood floors
central air
heating system
Building Details
Building Size
950 SF
Year Built
1947
Listing Agency:
Thomas Zengen
(845) 224-8005
Listed By:
Thomas P. Zengen
(845) 224-8005
Source:
Elliman
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 16 at 7:50AM
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 Thomas Zengen
Investment Insights
Based on property information with market context.
This 950 SF conventional restaurant occupies a lakeside setting on Nassau Lake, with indoor dining, a deck, and a separate pavilion. The property includes hardwood floors, an equipped kitchen with two hood and Ansel systems, refrigeration, freezers, griddle and stove equipment, fryers, and included smallware and dishware. Seating is arranged for 14 guests indoors, 18 on the lake-facing deck, and 20 in the pavilion.
The property offers upgraded docks and a gangway serving 5+ boats, along with 25 parking spaces. It is next to Empire State Trail heads, while Albany and Chatham are each approximately a 20-minute drive away. Updated mechanical systems include heating, central air, a water system, and septic. The business operates seasonally from mid-March through just after the Holidays, with beer and wine allowed.
The property offers upgraded docks and a gangway serving 5+ boats, along with 25 parking spaces. It is next to Empire State Trail heads, while Albany and Chatham are each approximately a 20-minute drive away. Updated mechanical systems include heating, central air, a water system, and septic. The business operates seasonally from mid-March through just after the Holidays, with beer and wine allowed.
Key Highlights
- 950 SF seasonal restaurant on 174 acre Nassau Lake
- Upgraded docks and gangway for 5+ boats
- 14 indoor seats, 18 deck seats, and 20 pavilion seats
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
$14,744
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
5.00%
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%
$294,880
$294.9K
Cap Rate 7%
$210,629
$210.6K
Cap Rate 9%
$163,822
$163.8K
Market Conditions
NOI Build-Up for 950 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
$20.5K $21.60/SF
− Vacancy
−$862 −$0.91/SF
EGI
$19.7K $20.69/SF
− OpEx
−$4.9K −$5.17/SF
NOI
$14.7K $15.52/SF
Area
Rensselaer County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$294,880
Cap Rate 7%
$210,629
Cap Rate 9%
$163,822
Alternative Uses
Best Use
Specialty Retail
$210.6K
$184.3K – $245.7K
NOI $14,744 @ 7.0% cap · market cap 5.00%
Second Best
Industrial
$143.4K
$125.5K – $167.3K
NOI $10,040 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$237.5K
$207.8K – $277.1K
NOI $16,624 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12123, NY
5,096
Population
2,346
Households
2.2
Avg Household Size
44
Median Age
39%
College-Educated
96%
High-School Grad
31.8 sq mi
ZIP Area
160
Density / Sq Mi
$104,438
Median Household Income
$54,646
Median Earnings
$959
Median Rent
$275,000
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 - Seasonal dining venue with dock access, outdoor seating, and a fully equipped commercial kitchen.
Where is this conventional restaurant located?
The property is located at 266 County Route 7 Nassau, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 950 SF seasonal restaurant on 174 acre Nassau Lake; Upgraded docks and gangway for 5+ boats; 14 indoor seats, 18 deck seats, and 20 pavilion seats
