Restaurant Property with Deli
For Sale
$165,000
6 8TH AVE, Gloversville, NY 12078
Corner-lot restaurant with basement office, central air, and included deli equipment.
Property Size798 SF
Price / SF$206.77
Days on Market221
Property Features for 6 8TH AVE
General Information
Standard status
Active
Size
798 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$1,554
Amenities
Central Air
3
Corner Lot.
6 Parking Spaces. Paved Driveway.
91 X 117 X 75
Creek
Creek, Exterior Lighting. Corner.
Listing Agency:
(518) 774-5849
Listed By:
Joyce Royal Real Estate
(518) 774-5849
Source:
Xome
Added: Jan 7
Changed: Aug 12
Last Checked: Aug 16 at 3:48AM
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 Joyce Royal Real Estate
Investment Insights
Based on property information with market context.
This conventional restaurant property at 6 8TH AVE includes a full basement with office space, central air, and a new heating system. Equipment for deli and retail operations is included, and the site has been operated as a deli for over 2 years.
The property occupies a corner lot with 6 parking spaces, a paved driveway, exterior lighting, and a creek. Listed site dimensions are 91 X 117 X 75. The combination of restaurant improvements, basement support space, and included equipment provides a defined physical setup for continued deli or retail use.
The property occupies a corner lot with 6 parking spaces, a paved driveway, exterior lighting, and a creek. Listed site dimensions are 91 X 117 X 75. The combination of restaurant improvements, basement support space, and included equipment provides a defined physical setup for continued deli or retail use.
Key Highlights
- Deli and retail operating equipment included
- Full basement with office space
- New heating system and central air
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
$11,215
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
6.80%
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%
$224,300
$224.3K
Cap Rate 7%
$160,214
$160.2K
Cap Rate 9%
$124,611
$124.6K
Market Conditions
NOI Build-Up for 798 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
$15.6K $19.56/SF
− Vacancy
−$656 −$0.82/SF
EGI
$15.0K $18.74/SF
− OpEx
−$3.7K −$4.68/SF
NOI
$11.2K $14.05/SF
Area
Fulton County, NY
Vacancy
4.20%
Lease Rate
$19.56 /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%
$224,300
Cap Rate 7%
$160,214
Cap Rate 9%
$124,611
Alternative Uses
Best Use
Specialty Retail
$160.2K
$140.2K – $186.9K
NOI $11,215 @ 7.0% cap · market cap 6.80%
Second Best
Retail
$107.3K
$93.9K – $125.2K
NOI $7,513 @ 7.0% cap · market cap 4.55%
Theoretical Best
Multifamily LT 5
$551.7K
$482.7K – $643.6K
NOI $38,617 @ 7.0% cap · market cap 23.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Corner-lot restaurant with basement office, central air, and included deli equipment.
Where is this conventional restaurant located?
The property is located at 6 8TH AVE Gloversville, NY.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Deli and retail operating equipment included; Full basement with office space; New heating system and central air
