Turnkey Restaurant and Office
For Sale
$495,000
Pending
407 Tulip St, Salina, NY 13088
4,800 SF property with restaurant and office space.
Property Size9,646 SF
Lot Size0.17 Acres
Days on Market266
Property Features for 407 Tulip St
General Information
Standard status
Pending
Size
9,646 SF
Lot size
0.17 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$638
Building Details
Building Size
9,646 SF
Year Built
1965
Stories
1
Listing Agency:
Rooftop Realty Group, LLC
(315) 456-8926
Listed By:
Mark Cardone · License #10991228663
(315) 456-8926
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 19
Last Checked: Aug 19 at 9:09AM
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 Rooftop Realty Group, LLC
Investment Insights
Based on property information with market context.
This 4,800 square foot property, located in the village of Liverpool, offers a blend of retail and office space in a prime location. The front half of the property is a fully equipped, turnkey cafe/restaurant space, suitable for entrepreneurs looking to start or expand their business. The rear portion of the property features seven offices, offering an opportunity for additional income. These offices are suitable for local businesses, freelancers, or professionals seeking a convenient and professional workspace. The flexible layout allows for individual rentals or could be easily adapted to a co-working space model.
Key Highlights
- Prime location in the village of Liverpool.
- 4,800 square foot property offering retail and office space.
- Turnkey cafe/restaurant space ready for immediate operation.**
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
$29,940
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
6.05%
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%
$598,800
$598.8K
Cap Rate 7%
$427,714
$427.7K
Cap Rate 9%
$332,667
$332.7K
Market Conditions
NOI Build-Up for 9,646 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
$41.7K $4.32/SF
− Vacancy
−$1.8K −$0.18/SF
EGI
$39.9K $4.14/SF
− OpEx
−$10.0K −$1.03/SF
NOI
$29.9K $3.10/SF
Area
Onondaga County, NY
Vacancy
4.20%
Lease Rate
$4.32 /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%
$598,800
Cap Rate 7%
$427,714
Cap Rate 9%
$332,667
Alternative Uses
Best Use
Retail
$1.66M
$1.46M – $1.94M
NOI $116,435 @ 7.0% cap · market cap 23.52%
Second Best
Office B
$1.45M
$1.27M – $1.70M
NOI $101,729 @ 7.0% cap · market cap 20.55%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,345 @ 7.0% cap · market cap 23.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
Explore this area
Business Placement
Demographics for 13088, NY
22,331
Population
11,242
Households
2
Avg Household Size
43
Median Age
35%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,690
Density / Sq Mi
$73,814
Median Household Income
$46,985
Median Earnings
$1,104
Median Rent
$166,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Turn key restaurant - 4,800 SF property with restaurant and office space.
Where is this turn key restaurant located?
The property is located at 407 Tulip St Salina, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime location in the village of Liverpool.; 4,800 square foot property offering retail and office space.; Turnkey cafe/restaurant space ready for immediate operation.**
