Turnkey Restaurant and Night
38-40 N Broadway, Schenectady, NY 12305
For Sale
Contact for pricing
Turnkey restaurant, tavern, and night club with a newly built outdoor patio for added guest seating.
Property Size600 SF
Price / SF$416.67
Days on Market147
Property Features for 38-40 N Broadway
General Information
Standard status
Size
Property subtype
Additional Details
Business Included
Building Details
Year Built
Listing Agency:
Berkshire Hathaway HomeServices Blake, REALTORS Albany
Listed By:
Joseph Legnard · License NY #10301211562
(518) 232-0697
Source:
Crexi
Added: Jun 16
Changed: Oct 25
Last Checked: Nov 8 at 7:42AM
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 Berkshire Hathaway HomeServices Blake, REALTORS Albany
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a business for sale presented as turnkey and includes FF&E. The concept combines restaurant, tavern, and night club operations, with the property formerly operating under the name Pinheads Susan's (Vice & Virtue). A newly built outdoor patio adds additional seating for guests.
The venue is located one block from Proctors and directly across from the Electric City Summer Fest venue, placing it in an active entertainment and event-oriented area.
For buyers, this offering is structured as a business sale only, with FF&E included, making it particularly relevant for an owner-operator or an operator looking to take over a ready-to-run hospitality and nightlife operation. The outdoor patio expansion supports year-round guest capacity and can help differentiate the experience for patrons attending events in the surrounding area.
The venue is located one block from Proctors and directly across from the Electric City Summer Fest venue, placing it in an active entertainment and event-oriented area.
For buyers, this offering is structured as a business sale only, with FF&E included, making it particularly relevant for an owner-operator or an operator looking to take over a ready-to-run hospitality and nightlife operation. The outdoor patio expansion supports year-round guest capacity and can help differentiate the experience for patrons attending events in the surrounding area.
Key Highlights
- Business for sale: Vice & Virtue (formerly Pinheads Susan's) restaurant, tavern, and night club
- Turnkey business sale with FF&E included
- Newly built 600 SF outdoor patio with additional seating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,432
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$168,640
$168.6K
Cap Rate 7%
$120,457
$120.5K
Cap Rate 9%
$93,689
$93.7K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$11.7K $19.56/SF
− Vacancy
−$493 −$0.82/SF
EGI
$11.2K $18.74/SF
− OpEx
−$2.8K −$4.68/SF
NOI
$8.4K $14.05/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$168,640
Cap Rate 7%
$120,457
Cap Rate 9%
$93,689
Alternative Uses
Best Use
Specialty Retail
$120.5K
$105.4K – $140.5K
NOI $8,432 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$179.6K
$157.1K – $209.5K
NOI $12,571 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,987
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Night club - Turnkey restaurant, tavern, and night club with a newly built outdoor patio for added guest seating.
Where is this night club located?
The property is located at 38-40 N Broadway Schenectady, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Business for sale: Vice & Virtue (formerly Pinheads Susan's) restaurant, tavern, and night club; Turnkey business sale with FF&E included; Newly built 600 SF outdoor patio with additional seating
