Fully Furnished Restaurant with
For Sale
$450,000
43641 State Route 12, Alexandria Bay, NY 13607
COMMERCIAL - Alexandria Bay, NY
Property Size2,040 SF
Lot Size0.83 Acres
Price / SF$220.59
Days on Market94
Property Features for 43641 State Route 12
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Business
Zoning description
Business
Parking
50
Parking features
Paved or Surfaced
Lot features
Irregular Lot
Elementary school district
LaFargeville
Middle school district
LaFargeville
High school district
LaFargeville
Directions
From Watertown, take the I-81N ramp to Alexandria Bay/Canada. Take exit 181A for NY-12N toward Alexandria Bay. Wolfe's Kountry Kottage will be on your left just after the entrance to the Swan Bay Resort.
Subdivision
Alexandria-222289
Standard status
Active
APN
222289-006-019-0001-071-220
Size
2,040 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Annual Amount
4501
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Oil
Cooling system
Central Air
Water source
Public
Building Details
Year built
1989
Floors in Building
1
Flooring type
Vinyl, Linoleum
Building materials
MetalSiding
Roof type
Asphalt, Shingle
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Shondra Beach · License #10401349039
(315) 782-9292
Added: May 29
Changed: Aug 4
Last Checked: Aug 30 at 10:06PM
MLS# S1684938
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 turnkey restaurant property is currently operating as Wolfe's Kountry Kottage and is being offered fully furnished with all seating and commercial restaurant equipment included. The interior provides seating for 86 guests, with an additional outdoor dining area for 24 guests. HVAC includes central air and a brand-new electric AC unit, while heating is available via forced air, electric (heating), and oil. The building construction includes metal siding with linoleum and vinyl flooring, and a roof of asphalt shingle.
The property sits on NYS Route 12 between Alexandria Bay and Clayton and is close to Interstate 81, supporting strong daily accessibility. Parking is paved or surfaced with over 50 spaces on site.
Outdoor and indoor updates and potential expansion of dining and/or building use can be considered, with public water and public sewer available to the property.
The property sits on NYS Route 12 between Alexandria Bay and Clayton and is close to Interstate 81, supporting strong daily accessibility. Parking is paved or surfaced with over 50 spaces on site.
Outdoor and indoor updates and potential expansion of dining and/or building use can be considered, with public water and public sewer available to the property.
Key Highlights
- NYS Route 12 location between Alexandria Bay and Clayton, close to Interstate 81
- Seating for 86 guests indoors plus 24 guests in outdoor dining
- Over 50 paved parking spaces
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
Yes
Highway access
Yes
Paved road 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant with seating for 86 indoors and 24 outdoors plus over 50 paved parking spaces on NYS Route 12.
Where is this conventional restaurant 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: NYS Route 12 location between Alexandria Bay and Clayton, close to Interstate 81; Seating for 86 guests indoors plus 24 guests in outdoor dining; Over 50 paved parking spaces
