Turnkey Restaurant and Bar
For Sale
Contact for pricing
301 FRANKLIN ST, Buffalo, NY 14202
Turnkey built-out restaurant/bar with seating for 180 and an outdoor patio for up to 36.
Property Size9,290 SF
Price / SF$150.70
Days on Market69
Property Features for 301 FRANKLIN ST
General Information
Standard status
Active
Size
9,290 SF
Class
A
Property subtype
Retail, Special Purpose
Zoning
N1-C
Additional Details
Highway Access
Yes
Patio
Yes
Building Details
Year Built
1946
Buildings
1
Stories
2
Units
1
Listing Agency:
716 Realty Group
Listed By:
Gregory Straus · License #NY 10491211091
(716) 266-6691
Source:
Crexi
Added: Jul 29
Changed: Oct 3
Last Checked: Oct 4 at 7:41AM
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 716 Realty Group
Investment Insights
Based on property information with market context.
Turnkey built-out restaurant/bar available for lease in Downtown Buffalo, including all furniture, fixtures, and equipment (FF&E). The space is formerly occupied by Dinosaur Bar-B-Que and includes a noted unique history as a former film vault for Universal International Studios prior to restaurant use.
The layout is designed for food and beverage service with seating capacity for 180 guests plus outdoor patio seating for up to 36. The property is located at 301 Franklin St near the Theatre District, Cobblestone District, and Canalside, with easy access to Route 33 and I-190 Expressways.
With 9,290 SF of existing restaurant/bar buildout, this is a ready-to-operate option for an operator seeking an established entertainment-dining environment.
The layout is designed for food and beverage service with seating capacity for 180 guests plus outdoor patio seating for up to 36. The property is located at 301 Franklin St near the Theatre District, Cobblestone District, and Canalside, with easy access to Route 33 and I-190 Expressways.
With 9,290 SF of existing restaurant/bar buildout, this is a ready-to-operate option for an operator seeking an established entertainment-dining environment.
Key Highlights
- Turnkey restaurant/bar buildout with included FF&E
- Seating capacity for 180 guests
- Outdoor patio seating for up to 36 guests
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
$106,519
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%
$2,130,380
$2.1M
Cap Rate 7%
$1,521,700
$1.5M
Cap Rate 9%
$1,183,544
$1.2M
Market Conditions
NOI Build-Up for 9,290 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
$156.1K $16.80/SF
− Vacancy
−$14.0K −$1.51/SF
EGI
$142.0K $15.29/SF
− OpEx
−$35.5K −$3.82/SF
NOI
$106.5K $11.47/SF
Area
Buffalo, NY
Vacancy
9.00%
Lease Rate
$16.80 /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%
$2,130,380
Cap Rate 7%
$1,521,700
Cap Rate 9%
$1,183,544
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,519 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.61M
NOI $156,384 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,152
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14202, NY
3,850
Population
2,452
Households
1.6
Avg Household Size
38
Median Age
45%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
4,278
Density / Sq Mi
$47,990
Median Household Income
$36,936
Median Earnings
$709
Median Rent
$495,800
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 Buffalo, NY
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey built-out restaurant/bar with seating for 180 and an outdoor patio for up to 36.
Where is this bar & pub located?
The property is located at 301 FRANKLIN ST Buffalo, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Turnkey restaurant/bar buildout with included FF&E; Seating capacity for 180 guests; Outdoor patio seating for up to 36 guests
