Restaurant and Bar with Outdoor
New
For Sale
$899,977
3195 NY-28, North Creek, NY 12853
COMMERCIAL - North Creek, NY
Property Size4,692 SF
Lot Size1.02 Acres
Price / SF$191.81
Days on Market3
Property Features for 3195 NY-28
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
50
Parking features
Off Street
Security features
Security
Patio and Porch features
Deck, Patio
Interior features
Grinder Pump, High Speed Internet, Paddle Fan, Vaulted Ceiling(s), Cathedral Ceiling(s), DSL Internet
Exterior features
Lighting, Outdoor Bar
Basement
Full, Exterior Entry, Interior Entry
Lot features
Road Frontage, Level, Cleared, Landscaped
Directions
From I-87, take the Warrensburg exit and head north on Route 28 toward North Creek -- the property will be on your right just before the village.
Standard status
Active
APN
523000 83.-2-52
Size
4,692 SF
Lot size
1.02 Acres
Taxes and HOA fees
Tax Annual Amount
14287
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Zoned
Cooling system
Central Air
Water source
Public
Building Details
Year built
1999
Floors in Building
1
Flooring type
Hardwood, Tile
Building materials
Cedar, Wood Siding
Roof type
Shingle
Listing Agency:
KW Platform · Keller Williams Realty
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 8 at 5:06PM
MLS# 202623397
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Basil & Wicks is a restaurant and bar property comprising 4,692 square feet on 1.02 acres. Built in 1999, the improvements include an outdoor bar, deck, patio, off-street parking, hardwood and tile flooring, vaulted and cathedral ceilings, forced-air heating with zoning, and central air conditioning. Cedar and wood siding complement a shingle roof, while public water and a septic tank serve the property.
The property is located at 3195 NY-28 in North Creek, approximately two minutes from North Creek and Gore Mountain. The surrounding area is seeing additions that include a year-round lodge and Ski Bowl expansion, a zip coaster, expanded lift-served mountain biking, and hiking trails. A public sewer project is also identified in the area. Commercial zoning supports the property's existing hospitality-oriented use.
The property is located at 3195 NY-28 in North Creek, approximately two minutes from North Creek and Gore Mountain. The surrounding area is seeing additions that include a year-round lodge and Ski Bowl expansion, a zip coaster, expanded lift-served mountain biking, and hiking trails. A public sewer project is also identified in the area. Commercial zoning supports the property's existing hospitality-oriented use.
Key Highlights
- 4,692‑square‑foot restaurant and bar on 1.02 acres
- Outdoor bar with deck and patio areas
- Built in 1999 with cedar and wood siding
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
$60,682
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
6.74%
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%
$1,213,640
$1.2M
Cap Rate 7%
$866,886
$866.9K
Cap Rate 9%
$674,244
$674.2K
Market Conditions
NOI Build-Up for 4,692 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
$84.5K $18.00/SF
− Vacancy
−$3.5K −$0.76/SF
EGI
$80.9K $17.24/SF
− OpEx
−$20.2K −$4.31/SF
NOI
$60.7K $12.93/SF
Area
Warren 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%
$1,213,640
Cap Rate 7%
$866,886
Cap Rate 9%
$674,244
Alternative Uses
Best Use
Specialty Retail
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,307 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
9k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,287 visits/mo
0.2 miles
Sunoco
Shops & Services
3,441 visits/mo
0.1 miles
Mobil
Shops & Services
843 visits/mo
0.1 miles
Demographics for 12853, NY
1,489
Population
1,070
Households
1.4
Avg Household Size
54
Median Age
22%
College-Educated
88%
High-School Grad
79.9 sq mi
ZIP Area
19
Density / Sq Mi
$58,850
Median Household Income
$32,264
Median Earnings
$938
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Restaurant - Established hospitality property with deck, patio, central air, and off-street parking on a commercial-zoned site.
Where is this restaurant located?
The property is located at 3195 NY-28 North Creek, NY.
What is the asking price?
The asking price for this property is $899,977.
What are key features of this property?
This property features: 4,692‑square‑foot restaurant and bar on 1.02 acres; Outdoor bar with deck and patio areas; Built in 1999 with cedar and wood siding
