Restaurant with Upstairs
For Sale
$1,499,000
37249 Highway 23, Grand Gorge, NY 12434
For sale restaurant property with a fully equipped main-level dining and commercial kitchen plus an upstairs apartment.
Property Size3,720 SF
Price / SF$402.96
Days on Market558
Property Features for 37249 Highway 23
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Commercial Sale / Business
Additional Details
Business Included
Yes
Amenities
Wall Unit(s), Yes
Pellet Stove, Other, See Remarks, Yes
Three Phase
Laminate
Yes
Slab
2
Frame
Building Details
Year Built
1900
Listing Agency:
Charlotteville Realty
(607) 397-9027
Listed By:
Kevin Lucero · License #10401350558
(607) 397-9027
Source:
Compass
Added: Jan 19, 2025
Changed: Jul 27
Last Checked: Jul 30 at 1:27PM
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 Charlotteville Realty
Investment Insights
Based on property information with market context.
This for-sale restaurant property includes a fully equipped, spacious main level with dining space and a commercial kitchen. The second level features a three-bedroom, one-bath apartment with an open floor plan.
The property is located at 37249 Highway 23 in Grand Gorge, a hamlet of Roxbury in Delaware County, New York. The public remarks note that it operates as a long-established local restaurant and reference visibility and community dining demand.
In addition to the restaurant space, the upstairs residence provides flexibility for owner occupancy or rental use, with approximately 1,375 square feet of living area identified in the remarks.
The property is located at 37249 Highway 23 in Grand Gorge, a hamlet of Roxbury in Delaware County, New York. The public remarks note that it operates as a long-established local restaurant and reference visibility and community dining demand.
In addition to the restaurant space, the upstairs residence provides flexibility for owner occupancy or rental use, with approximately 1,375 square feet of living area identified in the remarks.
Key Highlights
- Pizza Plus restaurant for sale with fully equipped main‑level dining area and commercial kitchen
- Upstairs includes a 3‑bedroom, 1‑bath apartment with open floor plan and approx. 1,375 SF of living space
- Restaurant includes gas range, gas oven, dishwasher, water heater, range hood, and exhaust fan
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.4k | $21.60 |
| − Vacancy | −$3.4k | −$0.91 |
| EGI | $77.0k | $20.69 |
| − OpEx | −$19.2k | −$5.17 |
| NOI | $57.7k | $15.52 |
3,720 SF · lease $21.60/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$824.8K
$721.7K – $962.2K
NOI $57,733 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,760 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12434, NY
622
Population
550
Households
1.1
Avg Household Size
52
Median Age
15%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
57
Density / Sq Mi
$48,558
Median Household Income
$55,366
Median Earnings
$920
Median Rent
$167,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - For sale restaurant property with a fully equipped main-level dining and commercial kitchen plus an upstairs apartment.
Where is this conventional restaurant located?
The property is located at 37249 Highway 23 Grand Gorge, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Pizza Plus restaurant for sale with fully equipped main‑level dining area and commercial kitchen; Upstairs includes a 3‑bedroom, 1‑bath apartment with open floor plan and approx. 1,375 SF of living space; Restaurant includes gas range, gas oven, dishwasher, water heater, range hood, and exhaust fan
