Turnkey Restaurant in Nautical
For Sale
Contact for pricing
46 Woodcleft Ave, Freeport, NY
Two-story restaurant with parking in a high-traffic entertainment district.
Property Size3,516 SF
Lot Size0.17 Acres
Price / SF$355.52
Days on Market428
Property Features for 46 Woodcleft Ave
General Information
Standard status
Active
Size
3,516 SF
Lot size
0.17 Acres
Property subtype
RETAIL
Listing Agency:
ERG
(646) 253-0952
Listed By:
Jazib Khan
Source:
Moodyscre
Added: Jun 18, 2025
Changed: Aug 15
Last Checked: Aug 19 at 2:01PM
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 ERG
Investment Insights
Based on property information with market context.
This turnkey restaurant space is suitable for immediate operation or rebranding. The two-story layout features a spacious dining area on the main floor, equipped with 14 tables and 59 chairs. The second floor includes office space and storage. An additional rear building provides extra storage and refrigeration. The property, situated in The Nautical Mile, a popular dining and entertainment district, benefits from heavy foot traffic. It includes 18 vehicle parking spaces and is near a municipal parking lot. The established local demographic consists of 44,873 people. The property size is 3,516 square feet.
Key Highlights
- Turnkey restaurant space ready for immediate operation or rebranding.
- Located in The Nautical Mile, a high‑traffic dining and entertainment district.
- Spacious dining area with 14 tables and 59 chairs.
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
$69,627
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
5.57%
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%
$1,392,540
$1.4M
Cap Rate 7%
$994,671
$994.7K
Cap Rate 9%
$773,633
$773.6K
Market Conditions
NOI Build-Up for 3,516 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
$105.5K $30.00/SF
− Vacancy
−$6.0K −$1.71/SF
EGI
$99.5K $28.29/SF
− OpEx
−$29.8K −$8.49/SF
NOI
$69.6K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,392,540
Cap Rate 7%
$994,671
Cap Rate 9%
$773,633
Alternative Uses
Best Use
Specialty Retail
$2.32M
$2.03M – $2.71M
NOI $162,729 @ 7.0% cap · market cap 13.02%
Second Best
Retail
$994.7K
$870.3K – $1.16M
NOI $69,627 @ 7.0% cap · market cap 5.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
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?
Turn key restaurant - Two-story restaurant with parking in a high-traffic entertainment district.
Where is this turn key restaurant located?
The property is located at 46 Woodcleft Ave Freeport, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Turnkey restaurant space ready for immediate operation or rebranding.; Located in The Nautical Mile, a high‑traffic dining and entertainment district.; Spacious dining area with 14 tables and 59 chairs.
