Restaurant with Large
For Sale
$599,000
Pending
453 Center Street, Lewiston, NY 14092
Renovated dining property with flexible seating, a commercial kitchen, basement storage, and room for outdoor seating.
Property Size3,298 SF
Days on Market50
Property Features for 453 Center Street
General Information
Standard status
Pending
Size
3,298 SF
Listing Agency:
HUNT Commercial Real Estate Corp. of Buffalo New York
(716) 854-5943
Listed By:
Christina Pecoraro · License #10401335573
(716) 531-6880
Source:
Nicholcityrealty
Added: Sep 18
Changed: Oct 28
Last Checked: Nov 6 at 8:14AM
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
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Investment Insights
Based on property information with market context.
This 3298-square-foot restaurant at 453 Center Street features an open dining layout with multiple seating areas, a substantial bar, high ceilings, vinyl flooring, two fireplaces, and LED lighting. Garage doors connect portions of the interior to the outdoors, while the dining room accommodates about 85 people. The property has been renovated inside and out and includes space for outdoor seating.
A functional kitchen includes some newer equipment, and the basement provides additional storage along with a large walk-in cooler and a smaller walk-in cooler. A rear entrance connects to a parking lot that supports additional parking and loading or unloading. The property is positioned among shops, restaurants, and businesses in Lewiston.
A functional kitchen includes some newer equipment, and the basement provides additional storage along with a large walk-in cooler and a smaller walk-in cooler. A rear entrance connects to a parking lot that supports additional parking and loading or unloading. The property is positioned among shops, restaurants, and businesses in Lewiston.
Key Highlights
- 3298 SF restaurant with seating for about 85 people
- Recently renovated interior and exterior
- Large bar, two fireplaces, LED lighting, and garage doors opening outdoors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,232
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
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
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 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 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.80M
$2.45M – $3.27M
NOI $196,161 @ 7.0% cap · market cap 32.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
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
$246,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Niagara County, NY
Properties on Market for Conventional restaurants in Niagara County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated dining property with flexible seating, a commercial kitchen, basement storage, and room for outdoor seating.
Where is this conventional restaurant located?
The property is located at 453 Center Street Lewiston, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3298 SF restaurant with seating for about 85 people; Recently renovated interior and exterior; Large bar, two fireplaces, LED lighting, and garage doors opening outdoors
