Restaurant with Event
New
For Sale
$1,500,000
302 Barringer Rd, Ilion, NY 13357
Established dining property combining restaurant service, banquet functions, and a covered outdoor area.
Property Size8,910 SF
Price / SF$168.35
Days on Market3
Property Features for 302 Barringer Rd
General Information
Standard status
Active
Size
8,910 SF
Restaurant
Seating Capacity
200
Equipment Included
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1930
Listing Agency:
Keller-Williams Mohawk Valley
Listed By:
Delbert Ball · License #10401246417
(315) 868-3933
Source:
Skinnercnyrealty
Added: Sep 12
Last Checked: Sep 13 at 12:58PM
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 Keller-Williams Mohawk Valley
Investment Insights
Based on property information with market context.
This approximately 8,910-square-foot restaurant property combines everyday dining with banquet and entertainment functions. The improvements include dining areas, a pizzeria operation, sports bar tavern space, a bar, three bathrooms, and a covered outdoor area. The sale includes the business, building, and equipment, providing an operating hospitality property with multiple service components under one roof. The venue can accommodate up to 200 guests for weddings, graduations, birthdays, anniversaries, and other gatherings.
The property sits on a generous lot with ample parking and is commercially zoned. Its setting is close to Ilion Park, Central Valley Academy, and everyday conveniences. Built in 1930, the property offers an established restaurant and event-center configuration with both indoor gathering areas and seasonal outdoor space.
The property sits on a generous lot with ample parking and is commercially zoned. Its setting is close to Ilion Park, Central Valley Academy, and everyday conveniences. Built in 1930, the property offers an established restaurant and event-center configuration with both indoor gathering areas and seasonal outdoor space.
Key Highlights
- Approximately 8,910 square feet with restaurant, banquet, and entertainment areas
- Business, building, and equipment included in the sale
- Venue accommodates up to 200 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
$115,233
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
7.68%
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%
$2,304,660
$2.3M
Cap Rate 7%
$1,646,186
$1.6M
Cap Rate 9%
$1,280,367
$1.3M
Market Conditions
NOI Build-Up for 8,910 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
$160.4K $18.00/SF
− Vacancy
−$6.7K −$0.76/SF
EGI
$153.6K $17.24/SF
− OpEx
−$38.4K −$4.31/SF
NOI
$115.2K $12.93/SF
Area
Herkimer County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$2,304,660
Cap Rate 7%
$1,646,186
Cap Rate 9%
$1,280,367
Alternative Uses
Best Use
Specialty Retail
$1.65M
$1.44M – $1.92M
NOI $115,233 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,643 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13357, NY
10,330
Population
5,101
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
93%
High-School Grad
29.6 sq mi
ZIP Area
349
Density / Sq Mi
$62,500
Median Household Income
$46,064
Median Earnings
$751
Median Rent
$105,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established dining property combining restaurant service, banquet functions, and a covered outdoor area.
Where is this conventional restaurant located?
The property is located at 302 Barringer Rd Ilion, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 8,910 square feet with restaurant, banquet, and entertainment areas; Business, building, and equipment included in the sale; Venue accommodates up to 200 guests
