Mixed-Use Property with
For Sale
$649,900
3943 Route 394, Mayville, NY 14757
Includes restaurant, coffee shop, retail, residential, and outdoor gathering spaces.
Property Size6,367 SF
Lot Size3.50 Acres
Days on Market8
Property Features for 3943 Route 394
General Information
Standard status
Active
Size
6,367 SF
Lot size
3.50 Acres
Property subtype
Commercial
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$9,557
Amenities
outdoor beer garden
container bar
outdoor dining area
Building Details
Building Size
6,367 SF
Year Built
1985
Stories
2
Listing Agency:
(814) 720-3168
Listed By:
Lisa Nielsen · License #WVS210301639
(814) 720-3168
Source:
Elliman
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 28 at 8:35PM
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 Lisa Nielsen
Investment Insights
Based on property information with market context.
This mixed-use property spans approximately 3.5 acres and combines an operating-ready restaurant building with several complementary commercial and residential components. The restaurant conveys with nearly all commercial kitchen equipment, a pizza oven, dining furnishings, tableware, and related fixtures. A separate coffee shop space includes its equipment, while an additional storefront and Farmers Market garage provide further usable areas. A studio apartment above the storefront is configured separately from the restaurant and has previously served as a furnished rental.
Outdoor improvements include a beer garden with a container bar and beer taps capable of serving multiple kegs, along with space for outdoor dining and gatherings. Ample on-site parking serves the commercial areas and residential unit. The property is located at 3943 Route 394 in North Harmony, directly across from Camp Chautauqua, and was built in 1985.
Outdoor improvements include a beer garden with a container bar and beer taps capable of serving multiple kegs, along with space for outdoor dining and gatherings. Ample on-site parking serves the commercial areas and residential unit. The property is located at 3943 Route 394 in North Harmony, directly across from Camp Chautauqua, and was built in 1985.
Key Highlights
- Approximately 3.5 acres at 3943 Route 394, North Harmony, NY 14757
- Restaurant building conveys with commercial kitchen equipment, furnishings, tableware, and a pizza oven
- Separate coffee shop space includes equipment
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
$41,912
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
6.45%
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%
$838,240
$838.2K
Cap Rate 7%
$598,743
$598.7K
Cap Rate 9%
$465,689
$465.7K
Market Conditions
NOI Build-Up for 6,367 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
$77.2K $12.12/SF
− Vacancy
−$10.1K −$1.59/SF
EGI
$67.1K $10.53/SF
− OpEx
−$25.1K −$3.95/SF
NOI
$41.9K $6.58/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
37.50%
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%
$838,240
Cap Rate 7%
$598,743
Cap Rate 9%
$465,689
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,720 @ 7.0% cap · market cap 12.88%
Second Best
Retail
$1.12M
$976.7K – $1.30M
NOI $78,138 @ 7.0% cap · market cap 12.02%
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,401 @ 7.0% cap · market cap 20.53%
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
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 14757, NY
3,072
Population
2,181
Households
1.4
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
43.7 sq mi
ZIP Area
70
Density / Sq Mi
$63,542
Median Household Income
$40,042
Median Earnings
$677
Median Rent
$179,400
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?
Mixed-use property - Includes restaurant, coffee shop, retail, residential, and outdoor gathering spaces.
Where is this mixed-use property located?
The property is located at 3943 Route 394 Mayville, NY.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Approximately 3.5 acres at 3943 Route 394, North Harmony, NY 14757; Restaurant building conveys with commercial kitchen equipment, furnishings, tableware, and a pizza oven; Separate coffee shop space includes equipment
