Restaurant with Outdoor
For Sale
$250,000
4962 State Highway 68, Ogdensburg, NY 13669
COMMERCIAL, Commercial, Ogdensburg, NY
Property Size951 SF
Lot Size1.38 Acres
Price / SF$262.88
Days on Market136
Property Features for 4962 State Highway 68
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Parking
10
Parking features
Driveway
Exterior features
Outdoor lights, Storage/out-building(s)
Lot features
Adj Pub/ Priv Open Area, Sidewalk
Elementary school district
Lisbon Central School District
Middle school district
Lisbon Central School District
High school district
Lisbon Central School District
Directions
From Main Street in Canton, this business is located on the right-hand side on Route 68 about 12 miles.
Subdivision
ST LAWRENCE
Standard status
Active
APN
60.001-2-14
Size
951 SF
Lot size
1.38 Acres
Taxes and HOA fees
Tax Annual Amount
3166
Utilities
Sewer type
Holding Tank
Water source
Well
Amenities
heated and fully wired split storage shed
two raised planter boxes
Building Details
Year built
1960
Floors in Building
1
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Palmer Realty
(315) 742-8100
Listed By:
Ariane Palmer · License #10491211743
(315) 262-6458
Added: Apr 15
Changed: Aug 24
Last Checked: Aug 28 at 7:06AM
MLS# 52571
Copyright © 2026 St. Lawrence Board of Realtors. 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 951-square-foot restaurant property on 1.38 acres includes an operating deli and ice cream business with an interior dining area for approximately 10 guests. Seasonal exterior seating adds six picnic tables. The property includes a commercial hood installed in 2025, a new refrigerator, two new freezers, and a heated, fully wired 12' x 30' split storage shed. Additional site improvements include an Oklahoma Joe pellet smoker and two raised planter boxes.
Located at 4962 State Highway 68 in Ogdensburg, the property offers driveway parking, outdoor lighting, vinyl siding, and a metal roof. Water is supplied by a well, and wastewater is handled by a holding tank. The building was constructed in 1960 and includes one bathroom.
Located at 4962 State Highway 68 in Ogdensburg, the property offers driveway parking, outdoor lighting, vinyl siding, and a metal roof. Water is supplied by a well, and wastewater is handled by a holding tank. The building was constructed in 1960 and includes one bathroom.
Key Highlights
- 951 SF restaurant on 1.38 acres at 4962 State Highway 68
- Interior dining area accommodates approximately 10 guests
- Seasonal outdoor seating with six picnic tables
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
$14,759
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
5.90%
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%
$295,180
$295.2K
Cap Rate 7%
$210,843
$210.8K
Cap Rate 9%
$163,989
$164.0K
Market Conditions
NOI Build-Up for 951 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
$20.5K $21.60/SF
− Vacancy
−$863 −$0.91/SF
EGI
$19.7K $20.69/SF
− OpEx
−$4.9K −$5.17/SF
NOI
$14.8K $15.52/SF
Area
St. Lawrence County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$295,180
Cap Rate 7%
$210,843
Cap Rate 9%
$163,989
Alternative Uses
Best Use
Specialty Retail
$210.8K
$184.5K – $246.0K
NOI $14,759 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$235.9K
$206.4K – $275.3K
NOI $16,515 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13669, NY
14,990
Population
7,419
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
85%
High-School Grad
101.5 sq mi
ZIP Area
148
Density / Sq Mi
$66,488
Median Household Income
$36,546
Median Earnings
$769
Median Rent
$101,800
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?
Restaurant - Operating deli and ice cream business on State Highway 68 with upgraded service equipment.
Where is this restaurant located?
The property is located at 4962 State Highway 68 Ogdensburg, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 951 SF restaurant on 1.38 acres at 4962 State Highway 68; Interior dining area accommodates approximately 10 guests; Seasonal outdoor seating with six picnic tables
