Long-Standing Restaurant on East
For Sale
$649,900
559 E Ridge Rd, Irondequoit, NY 14621
Restaurant for sale on 1.26 acres in Rochester.
Property Size3,740 SF
Lot Size0.82 Acres
Days on Market152
Property Features for 559 E Ridge Rd
General Information
Standard status
Active
Size
3,740 SF
Lot size
0.82 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,791
Building Details
Building Size
3,740 SF
Year Built
1959
Stories
1
Units
1
Listing Agency:
RE/MAX Plus
(585) 787-8888
Listed By:
John Antetomaso · License #49AN1151017
(585) 787-8888
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:11AM
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 RE/MAX Plus
Investment Insights
Based on property information with market context.
This is a rare opportunity to purchase a long-standing restaurant, a Rochester staple. The free-standing restaurant has ample parking and is located along the East Ridge Road Commercial District. The sale includes the land, building, furnishings, and fixtures. The 1.26-acre site consists of three parcels. Signage on the building and a free-standing sign are available for business use. The ice machine and any Schaller-related signage are not included in the sale. This property is suitable for conventional restaurants and other commercial real estate ventures.
Key Highlights
- 1.26 acre site with 3 parcels
- Free standing restaurant in East Ridge Road commercial district
- Land, building, furnishings, and fixtures included
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
$54,347
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
8.36%
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%
$1,086,940
$1.1M
Cap Rate 7%
$776,386
$776.4K
Cap Rate 9%
$603,856
$603.9K
Market Conditions
NOI Build-Up for 3,740 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
$80.8K $21.60/SF
− Vacancy
−$8.3K −$2.22/SF
EGI
$72.5K $19.38/SF
− OpEx
−$18.1K −$4.84/SF
NOI
$54.3K $14.53/SF
Area
Rochester, NY
Vacancy
10.30%
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%
$1,086,940
Cap Rate 7%
$776,386
Cap Rate 9%
$603,856
Alternative Uses
Best Use
Specialty Retail
$776.4K
$679.3K – $905.8K
NOI $54,347 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$896.5K – $1.20M
NOI $71,718 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
209k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Shops & Services 34%
Dining 23%
Electronics 2%
Walmart
Superstores
83,771 visits/mo
0.3 miles
Delta Sonic Car Wash
Shops & Services
43,619 visits/mo
0.1 miles
McDonald's
Dining
28,194 visits/mo
0.2 miles
ESL Federal Credit Union
Shops & Services
9,876 visits/mo
0.1 miles
Family Dollar
Shops & Services
8,557 visits/mo
0.3 miles
Demographics for 14621, NY
32,891
Population
15,013
Households
2.2
Avg Household Size
35
Median Age
12%
College-Educated
76%
High-School Grad
4.1 sq mi
ZIP Area
8,022
Density / Sq Mi
$36,534
Median Household Income
$31,704
Median Earnings
$989
Median Rent
$83,300
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.
Similar Off Market Nearby
- A Little Less Merchandise — 1415 N Clinton Ave, Rochester, NY 14621
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant for sale on 1.26 acres in Rochester.
Where is this conventional restaurant located?
The property is located at 559 E Ridge Rd Irondequoit, NY.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 1.26 acre site with 3 parcels; Free standing restaurant in East Ridge Road commercial district; Land, building, furnishings, and fixtures included
