Turn-Key Restaurant and
For Sale
$259,900
Pending
28 E Main St, Johnstown, NY 12095
Recently renovated, fully equipped restaurant with a full bar, outdoor dining, and event space for up to 75.
Property Size3,200 SF
Days on Market558
Property Features for 28 E Main St
General Information
Standard status
Pending
Size
3,200 SF
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$3,768
Amenities
outdoor dining space
full bar
space for live music
2nd floor event area
Building Details
Stories
2
Listing Agency:
Gateway Realty Solutions LLC
(518) 848-5774
Listed By:
Colleen M Ioele-DeCristofaro · License #40IO0785776
(518) 281-4467
Source:
Exprealty
Added: Feb 28, 2025
Changed: Sep 8
Last Checked: Sep 8 at 9:23AM
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 Gateway Realty Solutions LLC
Investment Insights
Based on property information with market context.
This recently renovated, turn-key restaurant and diner offers an equipped commercial kitchen and includes a full bar. The main dining area is furnished with a mix of colorful seating and sleek tables, and the exterior features a restored facade that keeps the historic feel of the property. Outdoor dining is available for guests, and there is space designed for live music. A second-floor event area accommodates up to 75 people.
Located in the heart of Johnstown, the property is positioned to serve a downtown atmosphere with ongoing activity.
The offering is designed for immediate operation with the restaurant’s core dining and service spaces already in place, along with dedicated areas supporting events and live music.
Located in the heart of Johnstown, the property is positioned to serve a downtown atmosphere with ongoing activity.
The offering is designed for immediate operation with the restaurant’s core dining and service spaces already in place, along with dedicated areas supporting events and live music.
Key Highlights
- Recently renovated, fully equipped restaurant/diner with a full bar
- Outdoor dining space for patrons
- 2nd‑floor event area with capacity for up to 75 people
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
$19,791
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
7.61%
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%
$395,820
$395.8K
Cap Rate 7%
$282,729
$282.7K
Cap Rate 9%
$219,900
$219.9K
Market Conditions
NOI Build-Up for 3,200 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
$30.3K $9.48/SF
− Vacancy
−$2.1K −$0.64/SF
EGI
$28.3K $8.84/SF
− OpEx
−$8.5K −$2.65/SF
NOI
$19.8K $6.18/SF
Area
Fulton County, NY
Vacancy
6.80%
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%
$395,820
Cap Rate 7%
$282,729
Cap Rate 9%
$219,900
Alternative Uses
Best Use
Specialty Retail
$642.5K
$562.2K – $749.5K
NOI $44,972 @ 7.0% cap · market cap 17.30%
Second Best
Industrial
$282.7K
$247.4K – $329.9K
NOI $19,791 @ 7.0% cap · market cap 7.61%
Theoretical Best
Multifamily LT 5
$2.21M
$1.94M – $2.58M
NOI $154,856 @ 7.0% cap · market cap 59.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
2,743 visits/mo
0.4 miles
Citizens Bank
Shops & Services
2,520 visits/mo
0.2 miles
Main Motorcar Chrysler Dodge Jeep Ram
Shops & Services
1,453 visits/mo
0.3 miles
Liberty Tax
Shops & Services
608 visits/mo
0.1 miles
Demographics for 12095, NY
12,242
Population
5,808
Households
2.1
Avg Household Size
43
Median Age
25%
College-Educated
89%
High-School Grad
65.2 sq mi
ZIP Area
188
Density / Sq Mi
$69,864
Median Household Income
$45,103
Median Earnings
$860
Median Rent
$159,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Recently renovated, fully equipped restaurant with a full bar, outdoor dining, and event space for up to 75.
Where is this conventional restaurant located?
The property is located at 28 E Main St Johnstown, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Recently renovated, fully equipped restaurant/diner with a full bar; Outdoor dining space for patrons; 2nd‑floor event area with capacity for up to 75 people
