Building Details

Building Size 4,440 SF

Buildings 2

Stories 2

Listing Agency: Century 21 Geba Realty b***@yahoo.com Show Phone

Listed By: Elizabeth A Bernitt Show Phone

Source: Cohenandcohenrealty

Added: Jun 19 Changed: Aug 4 Last Checked: Aug 9 at 12:48PM

Report an Issue

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 Century 21 Geba Realty

Investment Insights

Based on property information with market context.

This established pub property at 553 County Road 94 includes a commercial kitchen, welcoming gathering areas, and a separate three-bedroom, one-bath apartment. The establishment dates to the 1890s, giving the building a long operating history and distinctive character. Zoning is RR.

Outdoor space includes a lawn arranged for guest gatherings, games, and seasonal events. A separate barn adds an additional venue component that may support private functions, entertainment, tasting-room expansion, or similar hospitality uses. The property combines a functioning tavern setting with food-service infrastructure, event-oriented improvements, and onsite living quarters.

Key Highlights

• Established pub dating to the 1890s
• Commercial kitchen included
• Separate barn for event or entertainment 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

$37,193

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

7.83%

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%

$743,860 $743.9K

Cap Rate 7%

$531,329 $531.3K

Cap Rate 9%

$413,256 $413.3K

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

$57.0K $12.84/SF

− Vacancy

−$3.9K −$0.87/SF

EGI

$53.1K $11.97/SF

− OpEx

−$15.9K −$3.59/SF

NOI

$37.2K $8.38/SF

Area

Sullivan County, NY

Vacancy

6.80%

Lease Rate

$12.84 /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%

$743,860

Cap Rate 7%

$531,329

Cap Rate 9%

$413,256

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

Industrial

$531.3K

$464.9K – $619.9K (±1% cap)

NOI $37,193 @ 7.0% cap · market cap 7.83%

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

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.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Well-served

Demand for This Use

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar Off Market Nearby

• Pelkeys Tavern — 553 Co Rd 94, Hankins, NY 12741

Frequently Asked Questions

What type of property is this?

Bar & Pub - Hospitality property with a separate barn, outdoor lawn, and three-bedroom apartment.

Where is this bar & pub 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: Established pub dating to the 1890s; Commercial kitchen included; Separate barn for event or entertainment use