Building Details

Year Built 1890

Listing Agency: Bhhs Hudson Valley Properties Millbrook Real estate

Listed By: Michele Rios · License #NY 10301200217

Source: Crexi

Added: May 12 Changed: Aug 22 Last Checked: Aug 25 at 9:08AM

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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 Bhhs Hudson Valley Properties Millbrook Real estate

Investment Insights

Based on property information with market context.

This renovated mixed-use property, originally built in the 1890s, is equipped for a full-service restaurant. The kitchen includes a 6-burner stove, Bae Marie, ice maker, and walk-in cooler, among other equipment. The restaurant and bar area has seating for 68, with a semi-private room at the rear of the first floor suitable for parties. The building features live music, dinner specials, two handicap-accessible bathrooms, ample storage, and original tin ceilings. A wood-burning stove provides heat. Outdoor seating options include bar seating, benches, tables, and high-top tables. The backyard includes picnic tables, Adirondack chairs, and a firepit. A bandstand is available for live music. The barn has 200 amp electric service and could be converted into a country store or event space. The second-floor unit includes a kitchen, living room, office, pantry/laundry, two bedrooms, one full bathroom, and a walk-up attic. The property offers potential for various business uses.

Key Highlights

• Fully equipped restaurant and bar with seating for 68, including a semi‑private room
• Two‑bedroom residential unit on the second floor with kitchen, living room, office, pantry/laundry, and walk‑up attic
• Renovated 1890's building suitable for live‑in and work‑in use

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

$38,095

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

8.02%

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%

$761,900 $761.9K

Cap Rate 7%

$544,214 $544.2K

Cap Rate 9%

$423,278 $423.3K

Market Conditions

NOI Build-Up for 4,440 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

$69.3K $15.60/SF

− Vacancy

−$8.3K −$1.87/SF

EGI

$61.0K $13.73/SF

− OpEx

−$22.9K −$5.15/SF

NOI

$38.1K $8.58/SF

Area

Sullivan County, NY

Vacancy

12.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

37.50%

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%

$761,900

Cap Rate 7%

$544,214

Cap Rate 9%

$423,278

Alternative Uses

Best Use

Specialty Retail

$820.3K

$717.8K – $957.1K (±1% cap)

NOI $57,423 @ 7.0% cap · market cap 12.09%

Second Best

Mixed Use

$544.2K

$476.2K – $634.9K (±1% cap)

NOI $38,095 @ 7.0% cap · market cap 8.02%

Theoretical Best

Office A

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,248 @ 7.0% cap · market cap 17.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Bars & Pubs

Suggested Use

Top Pick Restaurant Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 12741, NY

251

Population

308

Households

0.8

Avg Household Size

50

Median Age

29%

College-Educated

100%

High-School Grad

9.2 sq mi

ZIP Area

27

Density / Sq Mi

$65,463

Median Household Income

$43,077

Median Earnings

$1,156

Median Rent

$356,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Completely renovated mixed-use property with restaurant, bar, and living space.

Where is this mixed-use property located?

The property is located at 553 County Road 94 Hankins, NY.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Fully equipped restaurant and bar with seating for 68, including a semi‑private room; Two‑bedroom residential unit on the second floor with kitchen, living room, office, pantry/laundry, and walk‑up attic; Renovated 1890's building suitable for live‑in and work‑in use