Restaurant with Outdoor Event
For Sale
$825,000
3481 Two Rod Road, East Aurora, NY 14052
CommercialSale, East Aurora, NY
Property Size2,900 SF
Lot Size0.87 Acres
Price / SF$284.48
Days on Market356
Property Features for 3481 Two Rod Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
comercial
Zoning description
Commercial
Parking
70
Subdivision
Buffalo Crk Reservation
Lot features
Rectangular, Rectangular Lot
Elementary school district
Iroquois
Middle school district
Iroquois
High school district
Iroquois
Standard status
Active
APN
145400-157-030-0002-001-000
Size
2,900 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Annual Amount
5064
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Amenities
outdoor grove
music stage
wood burning stove
Building Details
Year built
2005
Floors in Building
1
Building materials
Masonry
Roof type
Asphalt
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Shannon G Szalay · License #10401311154
(716) 913-0662
Added: Sep 2, 2025
Changed: Aug 19
Last Checked: Aug 23 at 7:06AM
MLS# B1633365
Copyright © 2026 New York State Alliance of MLSs, LLC. 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.
This 2,900-square-foot masonry restaurant was built in 2005 and includes a bar area, dining room, fully equipped kitchen, hardwood flooring in the bar, carpeted dining space, a wood-burning stove, and mini-split systems. Furniture and equipment are included. The property also features a 900-square-foot, two-bedroom, one-bath apartment, providing additional on-site space.
Outdoor improvements include a dining grove with an awning, separate bar, and music stage. The grounds include parking for 70 vehicles plus a concrete motorcycle parking area. Recent improvements include new siding in 2023, a Kohler awning installed in 2022, a 2021 roof, and a 2021 tankless water heater. The property sits on 0.87 acres and is served by natural gas heat and a septic tank.
Outdoor improvements include a dining grove with an awning, separate bar, and music stage. The grounds include parking for 70 vehicles plus a concrete motorcycle parking area. Recent improvements include new siding in 2023, a Kohler awning installed in 2022, a 2021 roof, and a 2021 tankless water heater. The property sits on 0.87 acres and is served by natural gas heat and a septic tank.
Key Highlights
- 2,900 SF restaurant building on 0.87 acres
- 900 sq ft apartment with 2 bedrooms and 1 bath
- Outdoor grove with awning, bar, and music stage
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
$34,922
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
4.23%
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%
$698,440
$698.4K
Cap Rate 7%
$498,886
$498.9K
Cap Rate 9%
$388,022
$388.0K
Market Conditions
NOI Build-Up for 2,900 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
$52.2K $18.00/SF
− Vacancy
−$5.6K −$1.94/SF
EGI
$46.6K $16.06/SF
− OpEx
−$11.6K −$4.01/SF
NOI
$34.9K $12.04/SF
Area
Erie County, NY
Vacancy
10.80%
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%
$698,440
Cap Rate 7%
$498,886
Cap Rate 9%
$388,022
Alternative Uses
Best Use
Specialty Retail
$498.9K
$436.5K – $582.0K
NOI $34,922 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.0K
$554.7K – $739.6K
NOI $44,377 @ 7.0% cap · market cap 5.38%
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
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14052, NY
17,679
Population
7,603
Households
2.3
Avg Household Size
47
Median Age
47%
College-Educated
96%
High-School Grad
61.2 sq mi
ZIP Area
289
Density / Sq Mi
$103,474
Median Household Income
$57,093
Median Earnings
$992
Median Rent
$312,000
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?
Conventional restaurant - Masonry restaurant property with indoor dining, a fully equipped kitchen, and an outdoor grove configured for dining and events.
Where is this conventional restaurant located?
The property is located at 3481 Two Rod Road East Aurora, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 2,900 SF restaurant building on 0.87 acres; 900 sq ft apartment with 2 bedrooms and 1 bath; Outdoor grove with awning, bar, and music stage
