Listing Agency: Coldwell Banker Faith Properties i***@centralnewyork.com Show Phone

Listed By: Victoria Rodriguez · License #10401400646 Show Phone

Source: Exprealty

Added: Aug 27 Changed: Oct 5 Last Checked: Oct 15 at 2:18AM

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Investment Insights

Based on property information with market context.

This restaurant property includes approximately 2,090 square feet of building area with a commercial kitchen, additional storage, and a partial finished basement. Central air and public utilities are in place, while on-site parking supports the existing configuration.

The building is located at 401 W Dominick Street in Rome, New York, with a corner position that provides visibility from multiple directions. Constructed in 1955, the property can accommodate continued restaurant use or another commercial concept, subject to zoning and required approvals.

Key Highlights

• Approximately 2,090 square feet of restaurant building area
• Commercial kitchen space with additional storage
• Partial finished basement and central air

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,073

Cap Rate

8.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$481,460 $481.5K

Cap Rate 7%

$343,900 $343.9K

Cap Rate 9%

$267,478 $267.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,090 SF

Gross rent

$33.9K $16.20/SF

− Vacancy

−$1.8K −$0.84/SF

EGI

$32.1K $15.36/SF

− OpEx

−$8.0K −$3.84/SF

NOI

$24.1K $11.52/SF

Area

Oneida County, NY

Vacancy

5.20%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$481,460

Cap Rate 7%

$343,900

Cap Rate 9%

$267,478

Alternative Uses

Best Use

Specialty Retail

$343.9K

$300.9K – $401.2K (±1% cap)

NOI $24,073 @ 7.0% cap · market cap 8.60%

Second Best

Industrial

$184.7K

$161.6K – $215.4K (±1% cap)

NOI $12,926 @ 7.0% cap · market cap 4.62%

Theoretical Best

Office A

$550.8K

$481.9K – $642.6K (±1% cap)

NOI $38,553 @ 7.0% cap · market cap 13.77%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

5 Stars Barber ... Barber Shop Unico Sabor Latino Restaurant

Suggested Use

Top Pick Real Estate Agency Gym & Fitness Center Electrical Service Bakery Parking Lot & Garage Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

874

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 13440, NY

41,024

Population

19,286

Households

2.1

Avg Household Size

42

Median Age

23%

College-Educated

88%

High-School Grad

116.5 sq mi

ZIP Area

352

Density / Sq Mi

$65,497

Median Household Income

$43,747

Median Earnings

$863

Median Rent

$155,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Commercial kitchen, storage, basement space, and on-site parking support continued restaurant use.

Where is this conventional restaurant located?

The property is located at 401 W Dominick St Rome, NY.

What is the asking price?

The asking price for this property is $279,900.

What are key features of this property?

This property features: Approximately 2,090 square feet of restaurant building area; Commercial kitchen space with additional storage; Partial finished basement and central air