Turnkey Tavern and Restaurant
For Sale
$3,250,000
320 Canada Street, Lake George, NY 12845
COMMERCIAL - Lake George, NY
Property Size13,000 SF
Lot Size0.60 Acres
Price / SF$250
Days on Market3170
Property Features for 320 Canada Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
40
Basement
Full
Accessibility
Accessible Approach with Ramp
Elementary school
Lake George
High school
Lake George
Elementary school district
Lake George
Middle school district
Lake George
High school district
Lake George
Directions
Rt 87 north to exit 21 right to Rt 9,left on Rt 9 north to Village of Lake George on Corner of Canada St & Amherst
Standard status
Active
APN
522201 251.14-3-37
Size
13,000 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
27727
Utilities
Heating system
Baseboard
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
2
Building materials
Wood Siding
Listing Agency:
Howard Hanna Capital Inc
(518) 489-1000
Listed By:
Charles Curto · License #10301206236
(518) 669-4356
Added: Dec 7, 2017
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 201723485
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.
Turnkey tavern and restaurant property offered as a complete package, including the business, real estate, and parking lot. The offering includes two parcels: 22 Amherst Street and 320 Canada Street. The property is described as fully equipped and operational.
Set in Lake George Village, the location is steps from the lake with high foot traffic and seasonal demand. The building construction includes wood siding, with baseboard heat and central air cooling. Accessibility is provided via an accessible approach with a ramp.
The property was built in 1950. The remarks also note a reconstructed 2025 performance update and a debt coverage ratio of 1.65.
Set in Lake George Village, the location is steps from the lake with high foot traffic and seasonal demand. The building construction includes wood siding, with baseboard heat and central air cooling. Accessibility is provided via an accessible approach with a ramp.
The property was built in 1950. The remarks also note a reconstructed 2025 performance update and a debt coverage ratio of 1.65.
Key Highlights
- Turnkey tavern and restaurant package including business, real estate, and parking lot
- Two parcels included: 22 Amherst Street and 320 Canada Street
- 0.6‑acre lot with 13,000 SF property
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
$168,129
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
5.17%
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%
$3,362,580
$3.4M
Cap Rate 7%
$2,401,843
$2.4M
Cap Rate 9%
$1,868,100
$1.9M
Market Conditions
NOI Build-Up for 13,000 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
$234.0K $18.00/SF
− Vacancy
−$9.8K −$0.76/SF
EGI
$224.2K $17.24/SF
− OpEx
−$56.0K −$4.31/SF
NOI
$168.1K $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%
$3,362,580
Cap Rate 7%
$2,401,843
Cap Rate 9%
$1,868,100
Alternative Uses
Best Use
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $168,129 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.89M
$3.40M – $4.54M
NOI $272,376 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Courtyard Lake George
Hotels & Casinos
5,524 visits/mo
0.1 miles
Quality Inn Lake George
Hotels & Casinos
204 visits/mo
0.4 miles
Demographics for 12845, NY
4,873
Population
3,441
Households
1.4
Avg Household Size
52
Median Age
37%
College-Educated
94%
High-School Grad
45.0 sq mi
ZIP Area
108
Density / Sq Mi
$95,583
Median Household Income
$50,000
Median Earnings
$1,064
Median Rent
$371,700
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.
Similar Off Market Nearby
- DJ's Nite Club — 89 Canada St, Lake George, NY 12845
- Polar Ice Bar - Fort William Henry Hotel — 48 Canada St, Lake George, NY 12845
- The Tankard Tavern — 48 Canada St, Lake George, NY 12845
- Alif Cafe on the Lake George Beach — 28 Beach Rd, Lake George, NY 12845
- Lake George Music Festival — 48 Canada St, Lake George, NY 12845
Frequently Asked Questions
What type of property is this?
Bar & Pub - Commercial zoned, turnkey tavern and restaurant on a 0.6-acre lot with central air, baseboard heat, and accessible ramp access.
Where is this bar & pub located?
The property is located at 320 Canada Street Lake George, NY.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Turnkey tavern and restaurant package including business, real estate, and parking lot; Two parcels included: 22 Amherst Street and 320 Canada Street; 0.6‑acre lot with 13,000 SF property
