Restaurant Space with
617 Union Street, Schenectady, NY 12305
For Sale
$425,000
Renovated restaurant space features a chef’s kitchen, outdoor dining, and on-site parking.
Property Size1,937 SF
Price / SF$219.41
Days on Market61
Property Features for 617 Union Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Restaurant
Patio
Equipment Included
Taxes and HOA fees
Annual Taxes
Amenities
Soaring Ceilings
Wrought Iron Railings
Huge glass windows
Chefs kitchen
Hardwood floors
Concrete counters
Full basement
Alarm system
Cathedral Ceiling(s)
Ceramic Tile Bath
High Speed Internet
Solid Surface Counters
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
Advantage Realty LLC
(518) 393-2500
Listed By:
Jesse J Lena
(518) 369-2730
Source:
Laffertyrealty
Added: Sep 15
Changed: Nov 13
Last Checked: Nov 13 at 2:06AM
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 Advantage Realty LLC
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Investment Insights
Based on property information with market context.
This 1,937-square-foot brick restaurant was built in 1920 and renovated six years ago, including replacement electrical, HVAC, and plumbing systems, along with updated Ansul and alarm systems. The interior has hardwood floors, concrete counters, high ceilings, a chef’s kitchen, and a full basement. Some cooking and line fixtures are included. Seating includes capacity for 89, bar seating for 15, and an outdoor patio with room for 30 additional guests.
The property is on Union Street in Schenectady’s restaurant row, near Union College and Ellis Hospital. On-site parking accommodates 15 vehicles.
The property is on Union Street in Schenectady’s restaurant row, near Union College and Ellis Hospital. On-site parking accommodates 15 vehicles.
Key Highlights
- Restaurant with 89 seats, 15 bar seats, and patio space for 30 more
- 1,937 square feet; built in 1920
- Renovation included electrical, HVAC, plumbing, Ansul, and alarm system updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,222
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,440
$544.4K
Cap Rate 7%
$388,886
$388.9K
Cap Rate 9%
$302,467
$302.5K
Market Conditions
NOI Build-Up for 1,937 SF
Gross rent
$37.9K $19.56/SF
− Vacancy
−$1.6K −$0.82/SF
EGI
$36.3K $18.74/SF
− OpEx
−$9.1K −$4.68/SF
NOI
$27.2K $14.05/SF
Area
Schenectady 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 Rate 5%
$544,440
Cap Rate 7%
$388,886
Cap Rate 9%
$302,467
Alternative Uses
Best Use
Specialty Retail
$388.9K
$340.3K – $453.7K
NOI $27,222 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$579.8K
$507.3K – $676.4K
NOI $40,584 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,095
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Schenectady County, NY
Properties on Market for Conventional restaurants in Schenectady County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated restaurant space features a chef’s kitchen, outdoor dining, and on-site parking.
Where is this conventional restaurant located?
The property is located at 617 Union Street Schenectady, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Restaurant with 89 seats, 15 bar seats, and patio space for 30 more; 1,937 square feet; built in 1920; Renovation included electrical, HVAC, plumbing, Ansul, and alarm system updates
