Turnkey Restaurant on Lake
For Sale
$625,000
4038 Hoover Rd, Hamburg, NY 14219
Turnkey restaurant with 455' Lake Erie waterfront.
Property Size2,420 SF
Lot Size1.08 Acres
Days on Market265
Property Features for 4038 Hoover Rd
General Information
Standard status
Active
Size
2,420 SF
Lot size
1.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,121
Building Details
Building Size
2,420 SF
Year Built
1997
Stories
1
Units
1
Listing Agency:
Century 21 North East
(716) 870-5726
Listed By:
Michael P Kaney
(716) 870-5726
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:31AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This turnkey restaurant property features 455 feet of Lake Erie waterfront. The owner is pursuing other culinary interests. The restaurant has operated as a year-round business, but it can also function as a 9-month seasonal operation. The square footage is based on a floor plan dated 10/15/2022. The property is also available for lease or lease with the option to buy, with terms and conditions negotiable.
Key Highlights
- 455' of Lake Erie Waterfront
- Turn Key Restaurant
- Year‑Round or Seasonal Business Potential
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
$29,142
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
4.66%
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%
$582,840
$582.8K
Cap Rate 7%
$416,314
$416.3K
Cap Rate 9%
$323,800
$323.8K
Market Conditions
NOI Build-Up for 2,420 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
$43.6K $18.00/SF
− Vacancy
−$4.7K −$1.94/SF
EGI
$38.9K $16.06/SF
− OpEx
−$9.7K −$4.01/SF
NOI
$29.1K $12.04/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$18.00 /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%
$582,840
Cap Rate 7%
$416,314
Cap Rate 9%
$323,800
Alternative Uses
Best Use
Specialty Retail
$416.3K
$364.3K – $485.7K
NOI $29,142 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$310.8K
$272.0K – $362.7K
NOI $21,759 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$529.0K
$462.9K – $617.2K
NOI $37,032 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
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?
Turn key restaurant - Turnkey restaurant with 455' Lake Erie waterfront.
Where is this turn key restaurant located?
The property is located at 4038 Hoover Rd Hamburg, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 455' of Lake Erie Waterfront; Turn Key Restaurant; Year‑Round or Seasonal Business Potential
