Turnkey Restaurant with Outdoor
For Sale
$450,000
43641 State Route 12, Alexandria Bay, NY 13607
Turnkey restaurant opportunity with furnished interior and outdoor dining, supported by easy access and ample on-site parking.
Property Size2,040 SF
Days on Market88
Property Features for 43641 State Route 12
General Information
Standard status
Active
Size
2,040 SF
Total Parking Spaces
50
Property subtype
Commercial
Zoning
Business, Business
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,501
Building Details
Building Size
2,040 SF
Year Built
1989
Buildings
1
Stories
1
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Shondra Beach · License #10401349039
Source:
Homeprocny
Added: May 29
Changed: Aug 23
Last Checked: Aug 23 at 10:05AM
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 Bridgeview Real Estate
Investment Insights
Based on property information with market context.
This turnkey commercial restaurant is currently operating as Wolfe’s Kountry Kottage, serving breakfast and lunch favorites daily for nearly a decade. The property is offered fully furnished with all seating and commercial restaurant equipment included, making it ready for the next owner from day one. Seating includes space for 86 guests indoors, plus an outdoor dining area for an additional 24 guests. A brand-new electric AC unit is also in place to support year-round comfort.
The restaurant is located on one of the busiest roads in the Thousand Islands region on NYS Route 12 between Alexandria Bay and Clayton, with close access to Interstate 81. The site is described as offering exceptional visibility and easy accessibility, along with abundant parking, with over 50 spots available. It is also positioned very near the St. Lawrence River, drawing tourists, seasonal visitors, and local cottagers throughout the year.
This property suits buyers looking to continue an established restaurant tradition or bring their own concept to a high-visibility site. With room to expand the existing building and enlarge the outdoor dining area, the layout supports both operational continuity and future development while maintaining an on-site guest experience built around breakfast and lunch service.
The restaurant is located on one of the busiest roads in the Thousand Islands region on NYS Route 12 between Alexandria Bay and Clayton, with close access to Interstate 81. The site is described as offering exceptional visibility and easy accessibility, along with abundant parking, with over 50 spots available. It is also positioned very near the St. Lawrence River, drawing tourists, seasonal visitors, and local cottagers throughout the year.
This property suits buyers looking to continue an established restaurant tradition or bring their own concept to a high-visibility site. With room to expand the existing building and enlarge the outdoor dining area, the layout supports both operational continuity and future development while maintaining an on-site guest experience built around breakfast and lunch service.
Key Highlights
- Turnkey commercial restaurant opportunity; includes all seating and commercial restaurant equipment, offered fully furnished.
- Restaurant seating for 86 guests indoors, plus outdoor dining seating for an additional 24 guests.
- Ample on‑site parking with over 50 spots available.
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
$20,931
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
4.65%
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%
$418,620
$418.6K
Cap Rate 7%
$299,014
$299.0K
Cap Rate 9%
$232,567
$232.6K
Market Conditions
NOI Build-Up for 2,040 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
$29.1K $14.28/SF
− Vacancy
−$1.2K −$0.60/SF
EGI
$27.9K $13.68/SF
− OpEx
−$7.0K −$3.42/SF
NOI
$20.9K $10.26/SF
Area
Jefferson County, NY
Vacancy
4.20%
Lease Rate
$14.28 /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%
$418,620
Cap Rate 7%
$299,014
Cap Rate 9%
$232,567
Alternative Uses
Best Use
Specialty Retail
$299.0K
$261.6K – $348.9K
NOI $20,931 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$562.3K
$492.1K – $656.1K
NOI $39,364 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 61%
Shops & Services 37%
Home Improvements & Furnishings 2%
Price Chopper
Groceries
11,978 visits/mo
0.3 miles
Dollar General
Shops & Services
3,810 visits/mo
0.3 miles
Sunoco
Shops & Services
3,421 visits/mo
0.3 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
321 visits/mo
0.4 miles
Demographics for 13607, NY
1,610
Population
2,079
Households
0.8
Avg Household Size
52
Median Age
34%
College-Educated
96%
High-School Grad
16.3 sq mi
ZIP Area
99
Density / Sq Mi
$58,167
Median Household Income
$45,625
Median Earnings
$649
Median Rent
$168,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Wolfes Kountry Kottage — 43641 NY-12, Alexandria Bay, NY 13607
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Turnkey restaurant opportunity with furnished interior and outdoor dining, supported by easy access and ample on-site parking.
Where is this breakfast & diner located?
The property is located at 43641 State Route 12 Alexandria Bay, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Turnkey commercial restaurant opportunity; includes all seating and commercial restaurant equipment, offered fully furnished.; Restaurant seating for 86 guests indoors, plus outdoor dining seating for an additional 24 guests.; Ample on‑site parking with over 50 spots available.
