Corner Restaurant
New
For Sale
$279,900
401 W Dominick Street, Rome, NY 13440
CommercialSale, Rome, NY
Property Size2,090 SF
Lot Size0.12 Acres
Price / SF$133.92
Days on Market1
Property Features for 401 W Dominick Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Zoning description
Commercial
Rooms
Basement
Parking
18
Parking features
Paved or Surfaced
Window features
Skylight(s)
Lot features
Rectangular, Rectangular Lot
Elementary school
Gansevoort Elementary
Middle school
Lyndon H Strough Middle
High school
Rome Free Academy
Elementary school district
Rome
Middle school district
Rome
High school district
Rome
Subdivision
Rome-Inside-301301
Standard status
Active
APN
301301-242-049-0001-005-000-0000
Size
2,090 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
3828
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
1955
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick, Masonry, WoodSiding
Roof type
Metal
Listing Agency:
Coldwell Banker Faith Properties · Coldwell Banker Real Estate
(315) 735-2222
Listed By:
Victoria Rodriguez · License #10401400646
(315) 520-2753
Added: Aug 27
Last Checked: Aug 27 at 3:06PM
MLS# S1710385
Copyright © 2026 New York State Alliance of MLSs, LLC. 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 2,090-square-foot restaurant property in Rome includes a commercial kitchen, additional storage, and a partially finished basement. The building also has central air, natural gas heat, a metal roof, concrete flooring, and brick, masonry, and wood siding construction. Public sewer serves the property, and on-site parking is paved or surfaced.
Built in 1955 on a 0.12-acre lot, the building occupies a corner location at 401 W Dominick Street. C1 zoning supports restaurant use and may accommodate another commercial concept subject to applicable zoning requirements and approvals. The property is positioned for continued restaurant operations or adaptation to another approved use.
Built in 1955 on a 0.12-acre lot, the building occupies a corner location at 401 W Dominick Street. C1 zoning supports restaurant use and may accommodate another commercial concept subject to applicable zoning requirements and approvals. The property is positioned for continued restaurant operations or adaptation to another approved use.
Key Highlights
- 2,090 square feet of restaurant building area
- 0.12‑acre lot at 401 W Dominick Street, Rome, NY 13440
- Commercial kitchen with additional storage and a partial finished basement
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
$24,073
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
8.60%
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%
$481,460
$481.5K
Cap Rate 7%
$343,900
$343.9K
Cap Rate 9%
$267,478
$267.5K
Market Conditions
NOI Build-Up for 2,090 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
$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 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%
$481,460
Cap Rate 7%
$343,900
Cap Rate 9%
$267,478
Alternative Uses
Best Use
Specialty Retail
$343.9K
$300.9K – $401.2K
NOI $24,073 @ 7.0% cap · market cap 8.60%
Second Best
Industrial
$184.7K
$161.6K – $215.4K
NOI $12,926 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$550.8K
$481.9K – $642.6K
NOI $38,553 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
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
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 - C1-zoned commercial property with a commercial kitchen, paved parking, storage, and public utilities.
Where is this conventional restaurant located?
The property is located at 401 W Dominick Street 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: 2,090 square feet of restaurant building area; 0.12‑acre lot at 401 W Dominick Street, Rome, NY 13440; Commercial kitchen with additional storage and a partial finished basement
