For Sale
$864,900
453 Center St, Lewiston, NY 14092
Conventional restaurants
Property Size3,298 SF
Days on Market70
Property Features for 453 Center St
General Information
Standard status
Active
Size
3,298 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Building Details
Building Size
3,298 SF
Year Built
1955
Listing Agency:
HUNT Commercial Real Estate Corp. of Buffalo New York
(716) 531-6880
Listed By:
Christina Cerrone Pecoraro
(716) 531-6880
Source:
Huntcommercial
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 16 at 3:42AM
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 HUNT Commercial Real Estate Corp. of Buffalo New York
Investment Insights
Based on property information with market context.
Key Highlights
- Turn‑key restaurant built in 1955 in the heart of Lewiston on Center St
- Seats about 85 people with a large open floor plan and two cozy sitting areas
- Huge bar with high ceilings, vinyl floors, two fireplaces, and LED lighting
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
$33,232
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
3.84%
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%
$664,640
$664.6K
Cap Rate 7%
$474,743
$474.7K
Cap Rate 9%
$369,244
$369.2K
Market Conditions
NOI Build-Up for 3,298 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
$47.5K $14.40/SF
− Vacancy
−$3.2K −$0.96/SF
EGI
$44.3K $13.44/SF
− OpEx
−$11.1K −$3.36/SF
NOI
$33.2K $10.08/SF
Area
Niagara County, NY
Vacancy
6.70%
Lease Rate
$14.40 /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%
$664,640
Cap Rate 7%
$474,743
Cap Rate 9%
$369,244
Alternative Uses
Best Use
Specialty Retail
$474.7K
$415.4K – $553.9K
NOI $33,232 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.80M
$2.45M – $3.27M
NOI $196,161 @ 7.0% cap · market cap 22.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Tops Gas
Shops & Services
7,198 visits/mo
0.4 miles
Dollar General
Shops & Services
5,824 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,478 visits/mo
0.4 miles
KeyBank
Shops & Services
4,692 visits/mo
0.1 miles
Crosby's
Shops & Services
3,365 visits/mo
0.4 miles
Demographics for 14092, NY
11,030
Population
5,241
Households
2.1
Avg Household Size
51
Median Age
40%
College-Educated
95%
High-School Grad
21.2 sq mi
ZIP Area
520
Density / Sq Mi
$67,835
Median Household Income
$48,315
Median Earnings
$979
Median Rent
$246,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
Where is this conventional restaurant located?
The property is located at 453 Center St Lewiston, NY.
What is the asking price?
The asking price for this property is $864,900.
What are key features of this property?
This property features: Turn‑key restaurant built in 1955 in the heart of Lewiston on Center St; Seats about 85 people with a large open floor plan and two cozy sitting areas; Huge bar with high ceilings, vinyl floors, two fireplaces, and LED lighting
