Restaurant With Event
For Sale
$479,000
3512 CR 14, Madrid, NY 13660
COMMERCIAL - Madrid, NY
Property Size1,656 SF
Price / SF$289.25
Days on Market317
Property Features for 3512 CR 14
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Security features
Security
Patio and Porch features
Porch, Deck
Interior features
9 ft.+ ceilings, Ceiling fan(s), Double door entry, Handicapped Bathrooms, Security features
Exterior features
Deck, Handicapped Entrance, Outdoor lights, Porch, Storage/out-building(s)
Accessibility
Accessible Approach with Ramp
Lot features
Sloped lot
Elementary school district
Madrid-Waddington Central School District
Middle school district
Madrid-Waddington Central School District
High school district
Madrid-Waddington Central School District
Directions
From 310 at the traffic light in Madrid turn heading into town. At the stop sign turn left. At next stop sign turn left again onto CR 14. The restaurant will be ahead about a mile or so on the left.
Subdivision
ST LAWRENCE
Standard status
Active
APN
52.021-1-16.11
Size
1,656 SF
Taxes and HOA fees
Tax Annual Amount
5506
Utilities
Utilities
Cable Available
Water source
Public
Amenities
pavilion
private meeting room
hardwired fire and police connections
Building Details
Year built
1950
Floors in Building
1
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Trego Realty Group, LLC
(315) 705-5542
Listed By:
Elizabeth Trego · License #10491210659
(315) 842-0266
Added: Oct 20, 2025
Changed: Aug 4
Last Checked: Sep 1 at 11:06PM
MLS# 52057
Copyright © 2026 St. Lawrence Board of Realtors. 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 1,656-square-foot restaurant property includes a bar, dining room, private meeting room, two restrooms, wide plank flooring, and a rear deck for outdoor dining. Interior features include 9 ft.+ ceilings, ceiling fans, double-door entry, handicapped bathrooms, and security features. The building was constructed in 1950 and has vinyl siding, a metal roof, public water, and cable availability. A custom-built smoker accommodates up to 300 pounds of meat at one time.
A separate 32' x 64' pavilion adds event capacity for weddings, proms, parties, and community gatherings. The property is situated on the St. Lawrence County snowmobile trail system and has hosted snowmobile and motorcycle runs. It is located in Madrid, with Massena, Potsdam, Canton, and Ogdensburg approximately 15–20 minutes away. Hardwired fire and police connections, an accessible ramp approach, outdoor lighting, porch areas, and storage or outbuilding space are also included.
A separate 32' x 64' pavilion adds event capacity for weddings, proms, parties, and community gatherings. The property is situated on the St. Lawrence County snowmobile trail system and has hosted snowmobile and motorcycle runs. It is located in Madrid, with Massena, Potsdam, Canton, and Ogdensburg approximately 15–20 minutes away. Hardwired fire and police connections, an accessible ramp approach, outdoor lighting, porch areas, and storage or outbuilding space are also included.
Key Highlights
- 1,656‑square‑foot restaurant property in Madrid, NY
- 32' x 64' pavilion for weddings, proms, parties, and community events
- Custom smoker holds up to 300 pounds of meat
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
$25,700
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
5.37%
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%
$514,000
$514.0K
Cap Rate 7%
$367,143
$367.1K
Cap Rate 9%
$285,556
$285.6K
Market Conditions
NOI Build-Up for 1,656 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
$35.8K $21.60/SF
− Vacancy
−$1.5K −$0.91/SF
EGI
$34.3K $20.69/SF
− OpEx
−$8.6K −$5.17/SF
NOI
$25.7K $15.52/SF
Area
St. Lawrence County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$514,000
Cap Rate 7%
$367,143
Cap Rate 9%
$285,556
Alternative Uses
Best Use
Specialty Retail
$367.1K
$321.3K – $428.3K
NOI $25,700 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$410.8K
$359.5K – $479.3K
NOI $28,759 @ 7.0% cap · market cap 6.00%
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
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13660, NY
2,019
Population
757
Households
2.7
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
58.8 sq mi
ZIP Area
34
Density / Sq Mi
$71,964
Median Household Income
$41,088
Median Earnings
$827
Median Rent
$121,000
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 - Operating restaurant property with dining, bar, private meeting space, outdoor seating, and a separate pavilion for gatherings.
Where is this conventional restaurant located?
The property is located at 3512 CR 14 Madrid, NY.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 1,656‑square‑foot restaurant property in Madrid, NY; 32' x 64' pavilion for weddings, proms, parties, and community events; Custom smoker holds up to 300 pounds of meat
